Debt Update

I don't believe that I posted an update on my total debt for a while, though I think that most of you know it is down to just student loans.  As my student loan payments just went through, I thought I would post an update.

I am 38.91% towards my goal of being 100% debt free.  Slowly but surely, it's coming along.

I've been playing with my 2010 budget some, and have hopes of increasing my student loan debt repayment to about $500/month. This will likely start in January, 2010.

I have read on some blogs, that many people feel that student loans aren't/shouldn't be a priority.  I think that because my other debt is paid off, it should be my number one.  Jordan and I chatted about this, and he is going to make sure his truck loan is paid off in short order as well.


  1. Nice to see those numbers inching down, but how cool will it be to see some 0 balances! I would continue with the $75 to the Alta Loan and $425 to the higher rate Canada loan. You could knock that sucker out so fast! And your tracking bars are sooo pretty filled in with red.

  2. Hahaha... I just noticed your side bars since your mom pointed them out. I love that you go out to two decimal points. I think that is just fantastic! =)

  3. I would do what your mom suggests. Make some extra lump sum payments toward the higher interest student loan.

    I like that you have done two decimal places too, even THREE places for the tier one house goal!! haha

  4. @ Mom - that's the plan - to hit the higher interest rate & the lowest balance first.

    @ SS4BC & Girl Makes Cents - I really didn't consider to track any other way then two decimal places... seems to make the most sense.

    *Laughs w/ GMC - oops, the 3 decimal places was an error - thanks for spotting it! That would be a little intense.

  5. Unforc math is not my strong point, but I love this spreadsheet. Do you mind sharing the formulas used to calculate this esp the monthly interest payments?


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