Monday, April 14, 2008

April's Debt

April’s numbers are in and I have to admit that this is my favorite part of the month. I get to figure out our total debt reduction for the month. Wohoo! And this is how I know I’m a total dork.

We paid $2,049 in debt payments and reduced our debt by $1,256, which means we paid $793 in interest. That’s $27 less in interest than last month!

It breaks down like this…

House

143,390.78

Van

21,445.19

Backyard

8,112.03

Car

5,967.30

So this brings our total debt to $178,915.30. Finally broke into the $170’s. Yay! The most frustrating part of debt is how long it takes to come down. It would be more motivating to see results more than once a month.

I’ve been thinking about how I would like to snowflake this debt but right now I need to snowflake for our bills. I’ve said before how we need to earn an extra $6,000 to make it through the rest of the year. So first I need to snowflake that money before I can start working on our debt. The good news is that my husband has been getting some overtime so that will help immensely.


5 comments:

Seb said...

I think it's good that you're keeping track of your debt the way you are. Even though seeing such large numbers might seem daunting, it gives you a light at the end of the tunnel :-)

Good luck, you're on the right track!

Kookaburra said...

Wow... looks like you guys are doing a great job at reducing your debts. I've never added up our total debts this way. But it looks like it really helps to see that progress towards the total. Gonna have to try that out.

Debt Advice said...

Hmmm - I really don't think i'd want to see exactly how much interest I was paying every month! That's got to kill your motivation! I know it's there, but I don't dwell on it.

debt said...

Yeah, keeping track of things like this is a great way to stay in control and manage your debts. Seeing the total reduce each month must really help you stay focused!

Debt Help said...

Good idea to keep track of whats coming in and out. Most people avoid it.