Tuesday, February 12, 2008

Monday Debt Elimination Meter 2

This weeks meter is late by a day but there isn't much to report other than the fact that I have lost some ground as can be seen below. Since last week I actually added $60.46 to my debt. Part of the reason for this is that now Anita's and my pay checks are on the same week every two weeks and when we get paid we put as much money towards our debts as possible and then slowly take from our line of credits to pay our expenses.
I'm going to suppose that the longer I track this the less fluctuations I should see in the Debt payment per month field. Last Monday I had $1923.95 and this week I have $1828.27. I have also updated the interest of my debts to reflect the new lower interest on my debts; they have all decreased by 0.5% since September 2007 except for the fixed portion of my line of credit.

I don't think that I can do much more than I am currently in my debt elimination phase. I think, that in future articles, I will be focusing more an the kinds of cuts to my expenditures I can make to increase my debt accelerator.

As always feel free to comment on what I'm doing and what you would do or have done differently on your journey to financial independence and wealth.

3 comments:

Finally Frugal said...

Hey Angelo,

Thanks for the comment on my blog, and I think I agree---I'm leaning toward putting the EF to use to pay down the mortgage a bit. I love the spreadsheet you're using to track your debt---I have something like that, but not quite so fancy! I haven't posted my total debt count (and payback) but hope to do that this week.

I'll be checking back here to see you you're doing with your debt. . . . we'll get there eventually!

Angelo Bucciero said...

Yes!

My first comment!

All kidding aside I hope that you find what I write useful.

I will also look in on your blog. I'm hoping to get ideas on how to cut my expenses so that I can pay my debts faster.

And yes we will get there; I want this blog to be a record for my son Brandon (He just turned one on the February 11th) of what I did to try and secure his future.

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