Paying off debt.
Friday, April 25th, 2008Well during my downtime (laid off) I’ve been contemplating paying off 2 bills or keeping my cash stash for a raindy day.
If you’ve read my initial blog entry “My RDL introduction - Financial breakdown” you’re aware of my 2 debts I’ve been wanting to pay off.
Nebraska Furniture Mart (Wife just HAD to have a new washer & dryer set) and my (investment in myself) student loan. Those debts totaled $5500.
With the help of my budgeting program I’m now going to pay those 2 bills off IN FULL by May 30th of this year. If I get my stimulus check ($2100) early, I will be able to pay them off earlier than that.
Paying off those 2 bills will leave us with 3 debts left. My Wife’s student loan ($30K) Our mortgage ($97K) & our rental mortgage ($57K). This will also allow us to save $280/month which was going towards paying those 2 bills off.
My next hurdle will be to payoff the wifes student loan which will allow us to save $288/month. It’s a long hurdle but I think it’s attainable within 2 years. I’m reaching for a goal of end of ‘09. Realistically I’m thinking middle of ‘09
YEAH ME!
