Tuesday, August 10, 2010

My Debt Round Up

I haven't giving an update on my finances in a while so I thought now would be a good time. I was talking to a friend of mine the other day about my debt and I remember saying to her "I haven't paid much this year" Being shocked at my own statement this taunted me for a good few days until one day I was laying in my bed and realized it wasn't true!

When I was having the conversation I was basically recalling actual checks I have written to pay off debt which is mostly why I couldn't really tell from just looking at the numbers on my spread sheet. However it dawned on me that I was having money auto drafted out of my paycheck for a good 2 months in excess of 500-800 at a time. So after I went back and recalculated here is what I discovered.

My total debt pay off to date : $11,000 - this includes a 401k loan and a pay day advance from YEARS ago.

I also brought a car for $2500 with $400 in repairs to date.

There are a bunch of other randomness within my budget but over all I have done a great job (In my opinion). I certainly didn't think I would be rolling up on 3 years worth of getting out of debt but it has definantly made for good story telling if nothing else!

Whats your debt repayment round up?


Young Mogul said...

Great for you! Keep pushing forward.

Rhitter94 said...

My current amount is over 40K.

Everyday Tips said...

You have done a great job- so give yourself proper credit!

My only debt is my mortgage, so I am obviously paying that every month. I put an addition 225 a month toward principal reduction to reduce my timeline somewhat, but I wish I could apply more.

Divine and Debt Free said...

Thanks guys!

Rhitter94 thats where I started almost 3 years ago (IN JAN) and im down to about $13,000 so hang in there! also remind yourself while paying off debt life is happening too!! I looked up 3 years later and sure im not completely debt free but I haven't created any new debt which is an accomplishment in and of it self!! I probably have cash-flowed about 20,000 in unexpected things over 3 years (some stupid tax) but still no new debt!! So keep that in mind and hang in there!

Everyday Tips: thanks for reminded me I have done well with Gods help because its been a long road but when I think about it the time really has flew by! As far as your mortgage just keep plugging away. There aren't many who can actually live up to paying down on the mortgage so you should give yourself a pat on the back too!!

Nicole said...

Wow! Good for you!

I think debt that you don't even realize is being paid is the best repayment. What a nice thing to find out. Great job on the auto-extra-payments.

Keep on trucking!

John Lair said...

I just find it amazing how you keep track with your debts; I mean that's a good idea and a great tip. And I think, I also need to keep tracked with my unsecured financing 'coz this will help me become aware of how much I am gaining or of how much I am losing in terms of my financial savings.