The last time I updated on our debt payoff it was February….of last year (you can read that post here). I hadn’t realized it had been that long. But honestly, we stalled out quite a big over the summer. Then the whole medical bill fiasco hit in November.
I am happy to report that Abby’s birth is finally paid off!! And the van will be paid off in June!! We will be ending up with another car loan unforunately. We are limping Matt’s car along until we can get the van paid off. We aren’t going to have the time needed to save up enough to get him the truck he needs. We are saving as much as possible so we have a larger down payment which will result in a smaller payment.
But I’m getting sidetracked.
Last year when I last updated on our debt payoff, we had $37,757.97 left to pay minus mortgage.
Now we have $31,676.11 left. I do know that will go up some with the next car but for now, it’s exciting.
Since May 2012, we have paid off $11,660.73. I wish I had the numbers from all the way back when we first got married but I didn’t start keeping track as soon as I should have.
Part of me is disappointed. I hear these people call into the Dave Ramsey Show to do their debt free scream who have paid off $40,000 in 2-3 years. But they usually make quite a bit more than we do or ever will. For what we make and how many things have broken or had to be replaced in the past few years, I am pretty happy with the progress we have made. I can’t compare our debt payoff speed with that of families that make 2-3x more per year than we do. It makes no sense.
Because we are having to add in the truck loan, my goal is to have everything paid off in 8-10 years. I’d like to get that number closer to 5 but I’m trying to be realistic.Come party with me! Here are all the link parties I do each week.