February 8, 2013

Happy 2013!

Filed under: budgets,debt,family,money — by elysianconfusion @ 10:03 pm

As trolls and other vermin like to comment, I haven’t updated in a while. Shockingly, life is busy and it’s hard to update something when you know no one is reading. Or at least, no one civil and intelligent. Anyway, if someone wanders along looking for a person who made progress, I hope this little journey is encouraging.

So the big news is that both our cars are paid off completely. We’ve also paid off all credit cards. The only debts remaining are our home equity loan, mortgage and student loan. Once the student loan is paid in full we’ll try to make our emergency fund more robust than $1,000. We’re sort of at the slow slog of debt payoff.

Still, I continue to keep a budget using one of my spreadsheets. I also track the remaining debt payoff with a spreadsheet calculator, and I still look at how much we pay in interest. Last year we paid over 43k in principal and just over 10k in interest. (This year we used a bonus for extra kick, so we’ve already paid over 13k in principal and not quite 1,500 in interest.) We really are turning that around, and it’s very rewarding.

Since I hardly need a table any more, I’ll just go for the big picture. In March 2012 we had $300,029.69 remaining, and in February 2013 we have $266,786.14. Seriously, I know people who owe more than that just on their house (we are near Boston, if you think that’s a ton, look at home values around here).

Anyway, Happy New Year (belatedly)!




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