Payment Sent for Dad’s Loan

Well I did it. I wrote the big check for $4943.99 to transfer my dads loan that was at 24% to me. It’s now my burden at 4%. Eventually I will transfer it somewhere at 0%. Dad is still going to pay me the monthly payment for it, and once my car is paid off in March, I will be putting what I was paying towards my car into it. We should have this paid off in September.

It’s a bit of a mind game for me though, seeing that big balance of crap debt to my name. I can understand a huge mortgage, and even a car payment. But a debt that’s been revolving for so long that’s completely unnecessary, somehow really bugs me. I’m glad I’m able to shoulder it for my dad, but I still don’t like it. Right now I look at it like an enemy that needs to be defeated. When it finally is, it will feel like a victorious battle.

Dad is very cynical when it comes to money. Oftentimes he will shrug his shoulders apathetically when I mention his debts. “They can’t squeeze blood from a turnip. I don’t have anything they can take.” So he just doesn’t seem to care about them, because he doesn’t think he can do anything about them. I suppose technically on his own, he can’t. He’s not very good with money, and it really is a mental discipline to train yourself to live below your means. Even I’m struggling with it now, but that’s only because I’m throwing so much extra towards these debts to get them paid off for him.

I think he’s somewhat curious about what I’m doing with his debts, though. Almost like he’s not really sure they will actually be gone, but at the same time is excited at the idea that they will be. He always tells me I shouldn’t worry about his debts, he’ll get them paid off eventually. I just can’t do that, it would take him a decade. Fortunately I inherited his stubborn genes, and I took over his debts whether he likes it or not 🙂