Financial update are HARD! We’re not where we want to be, but we’re working on it. So, without further ado, our end of August Budget Update!
Beginning Total Debt: $106,288.76
Credit Card #1
July 31st – $1,836.77
August 31st – $1,360.59
Credit Card #2
July 31st – $644.80
August 31st – $594.80
Car Loan #1
July 31st – $11,636.35
August 31st – $11,305.36
Car Loan #2
July 31st – $22,852.61
August 31st – $22,458.61
Personal Loan
July 31st – $11,304.00
August 31st – $10,804.00
Mortgage
July 31st – $42,615.23
August 31st – $42,072.23
Student Loans – in deferment
July 31st – $15,400.00
August 31st – $15,400.00
Our Total Debt is now: $103,995.59
Over August I paid off:
$2,293.17
Or, 2.15% of our total Debt!
We also increased our investments and savings to $1,080.93!
What do you think? Did we pay off too little this month?
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Did you increase your saving and investments through adding income to them or through organic (interest, dividend & capital) growth?
Paying that amount each month means you’ll be paid off with your entire debt in around 3 years, which is something to look forward to!
Not to put a downer on it, but its only 2% by my maths.
You are totally right! Thanks for catching that! Its 2.15%….hate it when I make simple mistakes….
Our savings and investments increased entirely due to extra contributions. On the interest front, we actually lost money :-(
Thanks for stopping by!
Looks good to me! I’d love to have made $2200 of progress on my mortgage. Slowly but surely.
Oh yeah! The PMI is killing us, at least in my mind! Can’t wait to get it paid down enough that it drops off!
Good luck to you on your debt progress!
Nice job. That will only snowball from here on out. I can see all of your debt gone in about 2 years!
Thanks! I love seeing the numbers go down!