5/12/2014

Debt Update

Just a quick update on where the debt stands.  All three credit cards have a $0 dollar balance, the Kia isn't tracked here because it's at 0% interest and the mortgage is...the mortgage.

As of Friday last week, the balance on the Escape and LOC was $34,900.  I've been continuing to add debt snowflakes to both accounts, but primarily to the Escape - because once it's paid, we can't add more to the pile (unlike the LOC), and it's interest rate is 1.5% higher than the LOC.

I've also included a bit of a breakdown of where the debt will stand at the end of the year with our regular payments.  My dream would be to have the balance at $0 but there's just no way we're going to find the money....My hope however, is that we're under $20K combined.

Once the balance is down another 5K, I'll pay off the Escape with the LOC, and we'll put the entire payment on to the single debt and then continue to decrease the available credit we have on the LOC until it's down to maybe $15K available.

Bit, by bit.
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