Friday, May 16, 2008

May's Debt

First off, I realized I’ve been making a mistake in calculating our debt payments. I was including our total mortgage payment, not just the principle and interest. So that messed my numbers up, but I’m too lazy to go back and update my past posts. I’ll just start doing it right from now on.

In May we made a total of $1,853 in debt payments and reduced our debt by $1,075 to $177,840. Which would mean we paid interest of $778. Which seems about right because we pay about $700 a month in interest on our mortgage and about $70 a month in interest on our car loans.

Here is the breakdown...


I also added a new section to my spreadsheet that keeps track of the interest I’ve earned. Which is pretty fun. I haven’t included our retirement accounts, I might someday but for right now it’s just our savings accounts. So in April we earned $38.66. Cool! It’s more than I was expecting to have made in one month.

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