- First Mortgage: $170,056.58
- Second Mortgage: $31,293.06
- Rental Property: $107,954.38
Total Debt: $309,304.02
This is a difference of –$558.13 in principle from the $309,862.15 owed in primary and rental mortgage debt at the end of June.
Reminder: Regular Payments Breakdown:
- First Mortgage: $1538.63
- Second Mortgage: $283.90
- Rental Property: $758.00
Total Monthly Payments: $2580.53.
$2,022.40 of this was toward interest alone. That is so… wrong.
Again, we are still just making regular payments and are taking a rest from snowballing our debt. And letting it just sit there. Because we are still trying to sell our house. Which will sell in time. At the perfect time. Because it will. So we are gathering up all available cash in our savings in case we need it. You know, at the closing table. For when we sell our house.
I feel like a broken record. And I’m finding this quite monotonous. In a burst of frustration I decided to look for all the personal finance bloggers I could find who also recently posted debt repayment updates of their own. You know, for a little excitement. I found quite a few! What can I say: my kids were playing really well together and I got on a roll. It was like I was meant to do this.
So please go visit some of these sites and enjoy some inspiration. Then come back and tell me how much you appreciate me looking all these posts up for you for your own debt-repayment-motivating pleasure. Because it really did take me a while.
What can I say: my kids were playing really, really well together. It was like, a miracle. Have I mentioned that the teenager’s been at tennis camp? I probably should have been cleaning my toilets.
Debt Repayment and Net Worth Updates from Around the Personal Finance Blogosphere:
- Girl with the Red Balloon: July’s Debt Wrap-Up — Young and newly married and still in school, she’s already working those student loans!
- Deliver Away Debt: Net Worth July 2010 — Family man w/a full-time career who’s delivering pizzas on the side to help his family eradicate their debt even faster. He’s been going at this for over a year! He’s walking inspiration for what a lot of hard work will get you.
- Sustainable Life Blog: July 2010 Monthly Review — He’s pounding away at those student loans and car debt.
- Money Relationship: Debt Update: $1,000 on the Family Loan — Also paying down student loans and car debt, selling stuff and taking extra jobs!
- Budgeting in the Fun Stuff: July 2010 Net Worth — They just paid off their car and only have mortgage debt left!
- Consumerism Commentary: No More Credit Card Debt, Now We Need a New Budget — Title is self-explanatory. His question now: What to do with the money that went toward credit card debt? (I vote for the car loans, but as the blogger states, he’s not strongly compelled to pay those off early.)
- Cool to be Frugal: Net Worth and Goals: July 2010 — Up 5.9% — On track to be debt-free next year!
- Couple Money: Net Worth Review: July 2010 — They’re plugging away at their mortgage and are on track to paying off their 30-year mortgage in 20 years instead!
- My Financial Objectives: Saving for a Down Payment as a First-Time Home Buyer — The author is planning to halt his debt snowball to start saving for a down payment. Au contraire! 😉 I couldn’t help but give him my two-bits. What would you advise?
- Narrow Bridge Adventures: August 2010 Net Worth Update — Eric’s goal is to pay off his student loans from his MBA in the next two years while simultaneously bulking up his cash reserves.
- Punch Debt in the Face: Net Worth: August 2010 — Ninja has no debt! And he’s getting married this weekend, so congratulations go to him!
- The Amateur Financier: Net Worth Update August 2010 — A graduate student chugging away at consumer and student loan debt!
Most (all?) of these sites came from the Yakezie network (see my sidebar), a group of bloggers who are banding together in the name of personal finance community and global dominance. Did I miss any updates? Did I miss you?
Well, there’s something we can do about that! Just add your update below using the linky-linky “add your link” button. Then follow the instructions. It’s simple, I promise. But you do have to go to my site to do this (in case you’re reading this on email). Your debt and/or net worth update does not have to be from July — it can go back to the last time you posted an update! But it does need to be an update on debt. Or your net worth. You know: Numbers.
And if you don’t follow these guidelines then I’ll just delete it. I have that power.
I’m feeling a little loopy this evening for some reason. Must be all that blog-hopping. Or maybe it’s the wine. It may have been sitting in its box a little too long, who knows. I’m so classy.
I would like to do this link-up for Debt and Net Worth Updates every month! So tell your friends. And tie a string around your finger to remind your own self to come back and share your update with us, too. And if you don’t have a post — or even a blog — detailing your numbers in all their glory, then just share with us in the comments. (Anonymously, if you must.) The idea is to share and cheer each other on! So face the music, look up your numbers, and tell us what you got. Or don’t got, whichever the case may be. It may hurt at first, but it’ll just get easier from there. I promise.
Yea! The linky-linky’s working! I hope you all continue to add your own Debt and Net Worth updates, and come back next month to do the same! Just please remember to add the URL for your post and not just your blog.