April 1st Check In

It’s April Fool’s Day. We have now completed a full 3 months of the second year of my debt reduction. Man, time flies! My birthday is coming up on Earth Day and in addition to giving myself the gift of one paid off loan, I’m trying to think of what gift to give you guys for my birthday. I’ll come up with something by then. It’s time to check in and see how I did in March. I think I’m trucking along pretty well and made some great progress in March.

January 1, 2010
Student Loan #1 $1,871.04 @4.5%earth day - It's April Fool's Day
Credit Card #1 $1,019.12 @13.99%
Credit Card #2 $3,907.79 @13.99%
HELOC $45,070.66 @3.875%
Student Loan #2 $38,301.68 @3.3-7.5% (it’s a bunch of Grad School and Undergrad loans together)
Personal Loan $1,580.52 @9.45%
Car Note $0
Total: $91,750.81

April 1, 2010
Student Loan #1 $1,533.05 @4.5%
Credit Card #1 $756.01 @13.99%
Credit Card #2 $3,659.73 @13.99%
HELOC $44,117.44 @3.125%
Student Loan #2 $38,066.08 @3.3-7.5% (it’s a bunch of Grad School and Undergrad loans together)
Personal Loan $0
Car Note $0
Total: $88,132.31

Savings: $1200 GOAL REACHED

As you can see, I’ve paid off the personal loan. My debt balance is down by $3,618.50 since January and my savings surpassed my goal of $1,000. This was of course due to the tax refund that I received from the Federal government. Nice, huh? There is one thing that I need to add to the list though. Last month I mentioned that I purchased a bed. I’ve paid the balance down by over $500 but I still have a balance of $1,696.50 at 0% interest. This brings my debt total to $89,828.81. That’s awesome! I’ve cracked the 90’s and I’m working my way back down to Madonna land. The 80’s is a great place to be.

Goals for this month? Well, I’d like to enjoy my birthday. Beyond that I need to reduce the balance of CC#1 below $500 and increase my savings to $1,500. Happy April everyone.

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