I know I'm combining quite a few different debt repayment methods, but hey, as long as they work, there's no harm, right? I started with the snowball, paying the smallest first, but switched to the avalanche to get rid of the car loan, and I am thinking I may stay with the avalanche, because I'm tired of paying interest.
With the car gone, that frees up $410/mo to pay things. The car was my second highest expense after rent ($450), and a very far second from the next highest item ($133 for my Student Loan #2). I could easily rebuild my EF in 2 months, no problem.
To be entirely honest, I don't think I am ready for an EF. I'll give you a few seconds to consider that.
My problem with an EF is money that is there. I know it's there. And even though I won't go spending it foolishly on myself or something like that, history has shown that something non-emergency will come by and sweep it away (90% of it will have to deal with my family). If I don't have it, I can't spend it, right? I will eventually complete my EF, of course. But for right now, it may be a triumph of hope over experience to re-complete it right before Christmas... I have a bad feeling that if I do, it will be gone before New Year's hits.
After surviving April through September of this year paying the steep price to re-complete my own $2000 loan (which was used to pay off the car), I don't want to put myself into the same situation. Because it truly, truly sucks. And I got no benefits out of what my funds were used on.
So instead, I will stick with one of my original modification to my plans, which is to pay off CC1 with the extra money. If I stick with it, it will be gone by January, and save me an additional $80 or so in interest. And then I can work on my EF under less stressful times. Jan - May are usually very financially stable for me, so if I can hope on that, it should be the best time to have an EF last.
I know it's probably a bad idea to forgo an EF for such a long time... and I can trust myself not to spend the money on me, but my family is another matter. I believe my best alternative is to go this holiday season without an EF or intended funds. I'll scrape by a Murphy fund (~$300), and if that goes away, no biggie. Still gotta run the numbers on this plan, but I'll let you know!