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Debt update

September 29th, 2006 at 07:01 pm

1. Pay off Discover $628 balance -> down to a $367 balance, which will be paid off this month
2. Pay off American Express $4530 balance (0% interest until 8/07) -> up to $4552
3. Pay off car loan, $1085 balance, 3.75% interest (this was a higher priority until I realized that I am only paying less than $4 per month in interest!) - at $200 per month this will be paid off relatively soon anyway
4. Pay off my student loans $6200 balance (about 4.6% interest) -> down to 6122
5. Pay off Dh's student loans $15145 balance (in deferment)

Overall, a $357 reduction in debt. It's a start...

Posted in | 3 Comments »

3 Responses to “Debt update”

  1. JanH Says:
    September 29th, 2006 at 07:29 pm

    You're going in the right direction--down! Congrats!

  2. yummy64 Says:
    September 29th, 2006 at 08:23 pm

    It is an excellent start! You are doing awesome!

  3. Bookie Says:
    September 29th, 2006 at 08:24 pm

    About six years ago I sat and looked at my totals after sifting through the wreckage of a failed marriage and its aftermath. I was $32,000 in the hole, all of it in credit cards and credit lines. I know how trifling a couple of hundred dollars may seem paid against a massive total.

    Today, I owe $1785, and I will clear that in the first quarter of next year according to my budget schedule. All the rest of it was liquidated a few hundred at a time. Reguar payments, found money, extra earnings, anything I could toss into the pot. It all added up -- over time.

    You'll get there. Wink

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