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January Debt Update

January 3rd, 2012 at 05:38 pm

Here's my beginning of the year debt update:

Mort 1 - $103,771
Mort 2 - $70,000
CC 1 - $7,731
CC2 - $2,453
CC3 - $1,716
CC4 - $1,416
Van Loan - $6,174

Total principal paid as compared to one month ago: $936

That's short of my $1,000 monthly goal. Well, $64 short to be exact. But, I've already written about our holiday spending, so not too bad.

I will continue to concentrate on CC4. That's the one that was transferred to a 0.0% for 6 months card. February will be the final interest free month. Then it shhots up to 20.99%. We'll pay it off when we get our tax refund, but until then, interest will accumulate mightily.

2 Responses to “January Debt Update”

  1. creditcardfree Says:

    I see your reason to file your taxes so quickly!! That is a crazy interest rate.

  2. Bob B. Says:

    Yes, it is crazy. The rate on the old card was 16.99%. I've calculated that as long as I get it paid off by September, the six months at 0.0%, and remaining time at 20.99% (with a 3% balance transfer fee) will be better than the whole time at 16.99%.

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