September 14, 2010

3/4 Through the Year

Filed under: birthday,budgets,debt,money — by elysianconfusion @ 11:02 am
Tags: , , ,

How are we doing? Good question.

Well, looks to me like so far this year we’ve made about $40k in payments to loans of one kind or another. About $26,680 was principal, leaving $13,277 in interest. What a waste of money. Honestly, it’s hard to even believe that we paid that much money out in any way at all. I guess the mortgage is at least $12k of the total.

Currently we owe $356,519.60. $271,1146 is house related (mortgage and home equity loan).  $19,757 is student loans. A shocking $17,140 in car loans (that’s two cars, and we just had to replace the tires on one of them– OUCH!). And finally, and truly worst of all, $48,508 in credit cards.

On the other hand (and I need to think positive, because I have to stay motivated and these numbers just depress me), according to my handy-dandy debttracker, we’ve paid off $22,842 in credit cards, $13,583 in mortgage loans, $20,830 in car loans, $8,243 in student loans and $12,302 in home equity. That’s $77,800 from my estimate of high balance…

So officially, down $2,207.98 from last month and $46,918.54 since I started this project in April 2009. Progress feels extremely slow. However, I did pay off preschool for the year, avoiding interest on those payments for this year (annual savings, $400!) and that is our LAST year of preschool. Next year will be kindergarten (pay for full day) and summer camp. That really is a lot less money. When we get to just paying for camp, we might even have to change the FSA deductions. That’s hard to imagine.

We also aren’t in any more debt, nothing is going up. We bought new tires for a car and got discounts because Sears was sloooow and for having some free Sears member card, plus a $70 rebate I’ll mail today. Total savings? $129.80. Not bad.

Now I just have to somehow pay for four more birthday presents this month and October… I’m hoping October we’ll actually have a good snowball going again. Then we’ll kick this debt out! We will!


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