An honest look at family finances
16 Jun
Well, I have my debt balances for June. Yay. I love watching them go down, down, down. Even if it’s just a little bit. We made debt payments totaling $1,859 and the balances were reduced by $1,142. Which means that we paid $717 in interest. Which is $61 less than last month. So that’s good at least. Our total debt now equals $176,697.
Here’s the break down…
| House | 142,771 |
| Van | 20,649 |
| Backyard | 7,785 |
| Car | 5,492 |
| 176,697 |
I was feeling pretty depressed about the debt situation yesterday. No particular reason really, just frustrated with how it doesn’t seem to go down. So I was looking at my spreadsheet and since January our total debt has gone down a total of $6,660. It means we are going to pay off well over $10,000 this year. It’s nice to see that it is going down, even if sometimes it doesn’t feel like it.
Ok, enough about debt… Lets talk about savings!
I earned $36.57 in interest. Which is about $2 less than last month. I’m assuming it’s a decrease in interest rates because the balances haven’t gone down. Hopefully soon those rates will be going back up. That would be nice to see.
Pic by: frankh
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5 Responses for "June’s Debt"
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A series of debt can lead to a very difficult cycle of unmanageable finances. We should find ways on reducing debt the cheapest way possible and enjoy financial freedom. Thanks for the article!
Feel better. My one mortgage is more than your entire debt. I would cry if I had to look at it everyday. Probably why I don’t put it on my blog with a measure. Depression would be horrible.
Yeah, I know that overall it’s probably not that bad, but I want so badly to be out of debt. I can’t wait.
Well at least your debt is going down. I’m just getting ready for my sophomore year at college, so I’m in the process of looking for a loan. Blegh!
Just curious, with whom do you have your savings?
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