And time for the big reveal…after the dust has settled from the house sale, the car sale and the refinance of my highest interest loan. Here are my numbers as of today!
|Debt Name||Current Balance||Interest Rate||Min. Mo. Pymt||Original Balance||Status|
|Checking Account||$741||0%||$0||$741||Going down, Jan 2015!|
|CC Intro Rate - Retail #2||$3500||3.99%||$39||$3500||Retail #2 refinance|
|Personal Loan - Car||$5000||12%||$96||$5000||Car Sale Difference|
|Credit Card - Consumer||$5043||13.90%||$105||$4,974||Minimum Payments|
|Student Loan||$32,805||2.875%||$0||$31,687||Forbearance until Feb.|
|Credit Card - Retail||$0||25.99%||--||$2,265||Refinanced - Dec, 2015|
|Car Loan - Accord||$0||0%||--||$1,900||Paid Off - Dec, 2015|
|Car Loan - NV||$0||6.79%||--||$31,138||Sold - Dec, 2015|
|Line of Credit||$0||15.95%||--||$1,248||Paid Off|
|Credit Card - Retail #1||$0||0%||--||$413||Paid Off|
|Property Tax||$0||0%||--||$700||Paid Off|
So a couple of things to note.
CC Intro Rate – Retail #2: I was able to refinance my high interest debt (Retail Card #2) to a 6 month introductory rate of 3.99%…so of course, my goal is to pay it off within the 6 months.
Personal Loan: I had to take out a personal loan in order to pay the difference in what I owed on the NV and what I sold it for.
Because of all the stress, changes and a little bit due to the holidays I did not accomplish my December goal of paying off the utility bills on the old house or closing out the checking account debt so those are #1 on my list this month.
So goals for this month…in priority order:
1. Pay off checking account debt
2. Finish paying off utility bills for old house.
3. Work on paying off CC Intro Rate – Retail #2
With the selling of the van, I’ve freed up approximately $1000 per month…$696 car payment, insurance payment and gas. I am confident I can accomplish these three goals this month!