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Monday, April 2, 2012

My Finance Journey...Update 3/31/2012

Thought I would do a quarterly update to our Financial Freedom progress...

In the last few months we were able to put to bed two more accounts. We are completely out of credit card debt and only owe on our car loan!

See our progress below:

 
 *I want to note that I don't count a debt as paid off until it is completely paid off. Therefore, while the starting number is accurate, the debt still owed is actually less due to ongoing monthly payments.

See our current debt category's below:


As you can see we have a beast of student loans to tackle!  My husband and I both have undergraduate and masters degrees, so this category is a substantial portion of our debt load.

We also sold our rental property last year, which help to eradicate $185k of the $430k we originally owed.

For those that think its not worth the sacrifice to pay off debts, take a look at the monthly savings alone.  We have more than $2,800 in extra income that is not going to bills!  That's money that is now going to pay for retirement, emergency fund, taxes, fun, giving, and of course to pay off more debt!  LOL

More to come...we can finally see the light at the end of the tunnel!

MsMoneyGuru



1 comment:

  1. Well, well, well! It can be done! 2800.00 of free money? That's what I'm talking about! All I want is to pay my mortgage my tithes and have free money too

    ReplyDelete

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