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Three Year Debt Comparison

April 8th, 2013 at 07:19 pm

April 1, 2011 Total Debt - $202,374
April 1, 2012 Total Debt - $187,077
April 1, 2013 Total Debt - $178, 952

$ Change - 2011 to 2012 = $15,297
$ Change - 2012 to 2013 = $8,125
$ Change - 2011 to 2013 = $23,422

I borrowed money for a pickup purchase in December; that's the major reason total debt didn't go down as much 2012 -2013.

April 1, 2011 CC Debt - $18,980
April 1, 2012 CC Debt - $8,931
April 1, 2013 CC Debt - $914

$ Change - 2011 to 2012 = $10,049
$ Change - 2012 to 2013 = $8,017
$ Change - 2011 to 2013 = $18,066!

This shows that we moved a lot faster when there was a gun to our heads.

In the next year, we're scheduled to pay off:
$914 CC Debt
$11,947 Mortgage Debt
$3,790 Truck Debt
$16,651 Total Projected Debt Payoff

I'll take a look in a year to see how actual compares. We're not planning on any new borrowing this year.
It might not be any different than what’s projected. After CC debt is all taken care of, my big question will be whether we should accelerate truck payoff, or beef up savings. I'll address that later.

1 Responses to “Three Year Debt Comparison”

  1. creditcardfree Says:

    Great job on the debt pay down! I hope things go well with your short sale this week.

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