Join us on our journey to lead a debt-free, credit-free, clutter-free life.
From the category archives:
Debt Balances as of the End of April 2011:
First Mortgage: $168,292.32
Credit Card Transfer #1: $22,502.00
Credit Card Transfer #2: $0 !!!
Rental Property: $105,100.09
Total Debt: $295,894.41
This is a difference of -$4,661.21 in principle from the $300,555.62 owed in primary and rental mortgage debt* at the end of March.
I just have to point out that we finally got it under $300,000!!!!!
(With a [...]
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Debt Payments in April: $2,580.53
Interest: $2,078.73
Principle: $501.80
Total Debt: $311,014.06
Second Mortgage: $31,482.99
Rental Mortgage: $108,899.92
Primary Mortgage: $170,631.15
*****
Our Debt Snowball is taking a breather. We made our regularly scheduled payments and nothing extra. And I’m okay with that. Instead of throwing snowflakes on the debt snowball, I am throwing as much cash as I can into our “Emergency [...]
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We paid off our consumer debt last month! Woo-hoo!
Oh, wait. Did I mention that already?
But we still have a boat-load of mortgage debt. Here’s the skinny.
Second Mortgage: $31,552.49
Primary Mortgage: $170,820.61
Rental Mortgage: $109,150.33
Total Mortgage Debt: $311,523.43
*gulp*
We are taking a brief hiatus on the debt snowball to build up some savings (beyond the $1000 emergency [...]
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February’s Progress
Debt #1 Original Balance (in May): $2260.17
Paid Off June 2009
Debt #2 Original Balance (in May): $6493.00
Paid Off August 2009
Debt #3 Previous Balance: $1,627.71
Paid $1,627.71
Paid Off!
Original non-mortgage Debt (in May): $19,375.72
Current Grand Total: $0.00!
Oh, but this isn’t the end! Folks, we will now be moving on to Mortgage Debt and all its dirty laundry: Primary [...]
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January’s Progress
Debt #1 Original Balance (in May): $2260.17
Paid Off
Debt #2 Original Balance (in May): $6493.00
Paid Off
Debt #3 Previous Balance: $3,396.21
paid $1,768.50
Current Balance: $1,627.71
Original non-mortgage Debt (in May): $19,375.72
Current Grand Total: $1,627.71
***
I have high hopes for paying off this debt completely by the end of February! I only wish that were the end of it — [...]
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December’s Progress
Debt #1 Original Balance: $2260.17
Paid Off
Debt #2 Original Balance: $6493.00
Paid Off
Debt #3 Previous Balance: $4.907.12
paid $1510.91
Current Balance: $3,396.21
Original non-mortgage Debt: $19,375.72
Current Grand Total: $3,396.21
***
What I said a month ago…
“Obviously our tenants moving out of our rental house in Vegas is going to put a damper on our debt eradication. We can cash flow two [...]
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November’s Progress
Debt #1 Original Balance: $2260.17
Paid Off
Debt #2 Original Balance: $6493.00
Paid Off
Debt #3 Previous Balance: $6,607.12
paid $1000.00
Current Balance: $4,907.12
Original non-mortgage Debt: $19,375.72Current Grand Total: $4,907.12***
Obviously our tenants moving out of our rental house in Vegas is going to put a damper on our debt eradication. We can cash flow two mortgages… But it ain’t pretty.Looking [...]
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October’s Progress
Debt #1 Original Balance: $2260.17
Paid Off
Debt #2 Original Balance: $6493.00
Paid Off
Debt #3 Previous Balance: $8,802.00
paid $1000.00
Current Balance: $6,607.12
Original non-mortgage Debt: $19,375.72Current Grand Total: $6,607.12***
We paid $2,128.10 in debt last month! Woo-hoo! We met and even exceeded our goal of $2000!
One snowflake that helped us achieve this goal was an escrow overage check we received [...]
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September’s Progress
Debt #1 Original Balance: $2260.17
Paid Off
Debt #2 Original Balance: $6493.00
Paid Off
Debt #3 Previous Balance: $9,802.00
paid $1000.00
Current Balance: $8,802.00
Original non-mortgage Debt: $19,375.72Current Grand Total: $8,802.00***
Our snowball clearly took another hit in September. Our goal is to put $2000 toward debt every month. In September we managed half of that.The main culprits:
Home Warranty: $519.00
Two Pre-Paid Cell [...]
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August’s Progress
Debt #1 Balance in April: $2260.17
*Still Paid Off* (wOOt!)
Current Balance: $00.00
Debt #2 Previous Balance: $389.09
PAID OFF!
Current Balance: $00.00
Debt #3 Previous Balance: $10,270.55
Paid minimum balance of $68.00…
and an extra $400.55
Current Balance: $9,802.00
Previous Grand Total: $10,659.64Current Grand Total: $9,802.00
You might say our debt eradication took a beating in August. It’s a bit ironic, because our final [...]
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