Happy Memorial Day!
I haven’t updated our progress on Dave Ramsey’s Baby Step 2 yet but today I’d like to share where we are at. I was a bit hesitant, at first, because personal finance is often a taboo topic. However, I’ve found it helpful to hear more about other people’s journeys. I’m sharing my journey in hopes that it inspires someone else.
- January 1, 2010 – $70,744.32 (I admit to having this number memorized)
- January 31, 2010 – $66,775.51 (5.7% paid off)
- February 24, 2010 – $66,173.36 (6.5% paid off – we paid cash for a $10k air conditioning unit during February)
- March 23, 2010 – $64,857.78 (8.4% paid off)
- April 30, 2010 – $61,637.78 (12.9% paid off)
- May 15, 2010 – $59,907.40 (15.3% paid off – I measured this mid-month because we broke into the $50s!)
- May 31, 2010 – $52,466.34 (25.8% paid off – we cashed in a small non-retirement mutual fund account and my husband’s commission was larger than expected)
Although we’ve had a fantastic 30 days with more than $9,000 paid off, our payoff rate will slow down again for June and July. I am hoping to see our total figure dip into the $40s by July 1, though! August is another commission month so we’ll see a bump in payoff percentages again by September 1.
If you enjoyed this post, make sure you subscribe to my RSS feed!
Related posts:
{ 1 trackback }
{ 0 comments… add one now }