Here’s how August looked in terms of minimum debt payments. I like to look at this just to see how things stand because as I see the monthly payments go down I feel a little better if an emergency occurs (meaning, we’d only have to pay this much to our debt to keep current).
Auto Loan: $258 (as of 9/12, it’s now paid off!!)
School Loans: $208
Credit Cards: $508
Prosper Loan: $113
Total Payments: $1,410
Debt to Income Ratio: 35% (based on earning $4048 in August)
Total Payments: $1,280
Debt to Income Ratio: 35%
August is higher with the payments because one credit card didn’t have a minimum yet in July because it was a new card. Now, all debt payments are showing up.
So, what do you think ?