Wednesday, 17 April 2013

Ding dong the credit cards gone!!!

Three cheers for being well on our way to debt free!!!
The last payment was made on the credit card last Thursday (11/4/13). Its lovely to see the balance of it as $4,000 credit.
So now all the free money will be going onto the personal loan.
The personal loan started out at $36,927.63 at the beginning of this financial fast. As of today the amount owing is $34,894.16.
We have paid off $2,033.47 in total over the last 3 months. Unfortunately $2,000 of that amount was paid yesterday and today.
Before the credit card was payed off, we were paying $300/month onto the credit card and $900/month onto the personal loan (what a lot of money that is!).
Now that the credit card is done we will be putting $1,200/month onto the personal loan plus my weekly contributions from my earnings (usually around $200).
If we can manage to put around $2k per month on the personal loan we should have it payed out in about 17  months....is that right? Gosh I hope not. I was hoping to be debt free in about 13 months.
Anyhoo. My point is that we are going in the right direction.
Spending has been a little looser this month. We have eaten out a few times and there have been new clothes bought.
Ive had to spend more on the boys winter school uniforms and my work clothes. Im sure I must be due to get a work uniform soon???
When Dan gets back from overseas we will need to sit down and go back through our goals so we dont flake off into spending too much again. Its so easy to slip back into the old ways.

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