I can’t believe another month is gone already, but at least this month I feel like we made a little progress. Let’s see if the numbers prove me right or wrong!
Current Non-Mortgage Debt:
| Debt | Balance | Interest Rate | Payment | Due Date |
| Appliance Loan | 0.00 | 0% | 0.00 | 2012-06-01 |
| RRSP Loan | 4,444.00 | 30.0% | 0.00 | 2013-03-01 |
| Mastercard | 1,540.64 | 24.99% | 1,540.64 | 2012-09-01 |
| Visa | 4,499.74 | 1.99% | 100.00 | 2012-08-15 |
| MBA Debt | 8,474.86 | 0.0% | 0.00 | 2013-10-01 |
| 2nd Mortgage | 21,589.44 | 3.99% | 57.50 | Bi-weekly |
| SUV Loan | 31,150.80 | 0.0% | 432.65 | Monthly |
| Line of credit | 40,019.88 | 6.25% | ~225.00 | Monthly |
Original Amount as of February 1, 2012:
| Debt | Balance | Interest Rate | Payment | Due Date |
| Appliance Loan | 4,000.00 | 0% | 0.00 | 2012-06-01 |
| RRSP Loan | 0.00 | 30.0% | 0.00 | 2013-03-01 |
| Mastercard | 4,000.33 | 24.99% | 4,000.33 | 2012-07-01 |
| Visa | 0.00 | 1.99% | 0.00 | 2012-08-15 |
| MBA Debt | 12,106.90 | 0.0% | 0.00 | 2013-10-01 |
| 2nd Mortgage | 21,883.63 | 3.99% | 57.50 | Bi-weekly |
| SUV Loan | 33,746.70 | 0.0% | 432.65 | Monthly |
| Line of credit | 38,973.82 | 6.25% | ~225.00 | Monthly |
Changes: Net Decrease ($597.30)
Current total: $111,719.36
Previous total: $112,316.66
Original total: $114,711.38
Appliances: Paid in FULL. No extra interest here!
RRSP: Yes, this is a new loan. This is now priority #2. While no interest is actually being paid, we will owe 30% in taxes if we do not pay it back by March 1, 2013.
Mastercard: Increase of $572.43. We put most of our Wisconsin trip on this card. This card gets paid in full monthly.
Visa: I made one $100 payment, plus a little interest was added. The promotional rate ends August 15; we will be tackling this balance first in our new payment strategy.
MBA Debt: Every month I stay with my current employer reduces the balance by another $600.
2nd Mortgage: We pay $57.50 bi-weekly, and the balance reduced by $24.72 this month.
SUV Loan: Down by $432.65 this month.
Line of Credit: Down by $14.45 after I paid a small snowflake payment this month.
Well, we’re down. That’s progress. Even with my son’s dental surgery and our trip to Wisconsin, we are still making a little bit of head way. I’m hopeful that by September, we will actually be able to put $500 extra per month against the Visa.
If we can finally rent out our spare room, and make just a little more monthly pet sitting, we could have that card paid off by Christmas. That would be wonderful.
Good luck! I love when progress is both felt and able to be seen!
It is starting to edge the right direction, I just have to get a little closer.
Progress is progress. Congrats and keep going!
Thanks! We’re pushing ahead with multiple attempts to get our side hustles going. All that money will go towards debt.
I just found your blog, and I’m loving your progress! I also have 6 figures worth of debt – They are in student loans and my husband is still accuring them while in school, so I definitely love your positive attitude and can’t wait to see how you do. Keep on keeping on! You’re an inspiration!
xo
Cat
aka
Budget Blonde
Welcome! So glad you dropped by. I’ll pop over and check out your site too, and thanks for commenting!
YES! I love seeing things go to zero! Good work!
We’re getting there. It feels so slow, but we’re getting there.