Wednesday, February 13, 2008

February's debt

The final numbers are in for February’s debt. We paid off $944! Even taking into account that the credit card balance went up by $140. I was surprised by this figure. I didn’t think it would be that much. I just started last month figuring our debt as a whole, and keeping this close of tabs on the balances. Before I have always tried to wait as long as I could so look at the balance so that I could be surprised how much it went down. I always liked that little jolt. “oh wow! We paid off another $3,000!” But last month I made a very simple Excel spreadsheet so that I can keep current balances.

Taking out the credit card completely(which I don’t pay interest on anyways), our total loan payments were $1823, and our balance went down $1084. So that means we paid $739 in interest, including our mortgage. I’m happy that over half our payments are going to real debt reduction.

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