11/03/2009

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.
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5 comments:

  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.

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  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! =)

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  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

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  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.

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  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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