ElysianConfusion

March 14, 2012

Progress over Perfection

Filed under: budgets,debt,mess,money — by elysianconfusion @ 1:06 pm

Now I’m going to do something (again) I dread doing, even though no one actually reads this blog. I’m going to put out the numbers for the debt and the interest rates.

Ready?

Debt Amount Rate Month Paid Off
Visa 0 8.5% February 2011
Bank of America $0 9.9% February 2012
Upromise $0 11.15% March 2012
Citi $12,756.39 9.15% January 2013
Car #1 $0 4.7% March 2012
Car #2 $4417.30 2.9% May 2013
Home Equity Variable $11,638.20 4.0% June 2013
Home Equity Fixed $72,050.76 3.99% October 2015
Student Loan $17,226.39 2.9% January 2014
Mortgage $181,940.65 3.0% March 2019

In November, we were at $319,589.11 – today that is down to $300,029.69. That’s $19,559.42 lower in four months. I just paid our minivan off yesterday – woohoo! In February we paid off a credit card, then moved another to our home equity line for two reasons. First, the rate is less than half, saving us LOTS of interest. The second reason is that we can deduct home equity interest from our taxes, whereas credit cards do nothing for us there despite all the money we send them.

I wish it went faster. I know I should be pleased to see zeros in that table, and I know we are making progress, but it just feels eternal.

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