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.
|Debt||Amount||Rate||Month Paid Off|
|Bank of America||$0||9.9%||February 2012|
|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|
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.