Debt Update

I haven’t been online much lately (horrible habit of not being able to keep up with writing projects), but I just wanted to log in my debt update as of today. Still chopping away at the debt which is good. Depending on how my eBay auctions end up, I may be able to pay my car off completely this month, but if not, I’ll definitely get it done by July. I’ll need to run the numbers again in Excel to see how the month delay will affect my other debt payoffs, namely Advanta and Discover. My 0% promotional rate with Advanta ends in October, so after the car, that’s the next thing to go before the rate adjusts. Discover is May 2010, so that is second.

JUNE 2009 DEBT UPDATE

Auto Loan $1,300

Advanta $1,969

Discover $7,210

Student Loan $5,698.60

Friend #1 Loan $8,400

Friend #2 Loan $8,200

TOTAL $32,777.60

Total paid off this year (by end of June – half year mark) = $9,926.25

Not too bad, especially since I am cash flowing the remainder of my college education, due to be done by first half of 2010. I would love to add the college fund portion to my debt snowball, but with the economy, it’s pretty important to me to finish this up, especially since fees are due to go up next year.

Nothing too exciting to report in other words; just steadily chipping away. I can’t say that I don’t at times feel impatient at the seemingly slow progress, but listening to Dave Ramsey especially on Fridays where he gets his Debt-Free calls is really a great motivator.

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