| Savings | 1000.00 | 989.14 |
| Lawyer | 2,480.32 | 2480.32 |
| NSB | 863.30 | 863.30 |
| Taxes | 1,711.81 | 1711.81 |
| Coop | 391.29 | 391.29 |
| CC 1 | 430.57 | 430.57 |
| CC 2 | 454.32 | 15.00 |
| CC 3 | 787.78 | 765.37 |
| CC 4 | 687.34 | 21.00 |
| CC 5 | 2,195.60 | 78.00 |
| Furniture Card | 2,489.04 | 117.00 |
| Vehicle Loan | 2,866.51 | 284.40 |
The second column is the amount that was paid towards each of the debts. Some of the amounts are different from the original post just because they had to be updated after all the previous months payments posted. When I checked our online savings account it still had just over $10.00 so I just deposited enough to get to the $1000 mark.
When Hubby and I were looking at the debt repayment plan for the remainder of our debt he was shocked to see that we pay out $439.20 in debt repayment. "That's half a paycheck" he commented.
We then talked about how even though we paid off over $8000 our monthly payments hadn't changed much because only two cards with minimum payments were paid off. The rest was debt we'd just been ignoring...bad I know.
The other thing is that even if we had been making minimum payments, the whole idea of the debt snowball is that when one debt is paid you put that payment towards the next smallest debt. It does allow you a little wiggle room if you get into a pinch though.
As things stand now if we only continue to make the $439.20 our debt will be paid off in December 2011. It's comforting knowing that we will have $3896.71 left at tax time next year. We definitely won't receive the payments we did this year, but we should easily have that much. So realistically we will have our debts paid off February 2011at the latest! If I could choke out an extra $200/month we would only owe $1800...ugh, sometimes I just can't slow my brain down sometimes.
Imagine what we could do with $425/month!! I better not...my imagination would up and take me away and I have things to do this weekend!!
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