Ok, so I admit that debt reduction isn’t on the top of my list of things to do.  I mean, it IS, but not like a lot of bloggers.  While I think it’s very important, I don’t spend a lot of time thinking about it.  It’s basically on auto pilot, I pay my payments plus a set amount extra and that’s that.

But even so it’s great to look back to see how much it’s gone down over the year.  So here we go…

Total payments Amount Paid Off Interest
House 12,990 4,503 8,487
Van 5,544 4,413 1,131
Backyard 1,758 1,758 0
Car 3,144 2,635 509
Totals 23,436 13,309 10,127

I guess I’m happy with that.  Obviously I wish we didn’t have so much to pay towards debt, but I’m glad over half of our payments go towards principal.  It’s crazy that we sent an extra $1,950 towards the mortgage and we still only paid off $4,503.  Wow.  It’s sad how little of your payment goes towards the mortgage balance.  That’s why I force myself to pay extra.  I just can’t stand sending all that money and having nothing to show for it.

Pic by Morning Glory

Thanks for reading. If you enjoyed this post consider subscribing!

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

Related posts:

  1. February’s debt
  2. May’s debt
  3. April’s Debt
  4. March’s Debt
  5. July’s Debt