It is time to update our progress towards completing Baby Step 2. This will the last update of 2010 and I’m going out with a bang! We ended up revising our Christmas budget down so we could put more money towards our debt and although we went over budget by $5.86, I’m glad we made the revision.
Without further ado, here’s my December 30, 2010 Baby Step 2 Update:
- 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)
- July 5, 2010 – $49,672.57 (29.8% paid off)
- July 31, 2010 – $47, 342.92 (33.1% paid off)
- August 31, 2010 – $40,688.78 (42.5% paid off)
- October 2, 2010 – $36,175.56 (48.9% paid off)
- October 29, 2010 – $35,884.22 (49.3% paid off)
- November 26, 2010 – $29,102.71 (58.9% paid off)
- December 30, 2010 – $21,584.09 (69.5% paid off)
At the end of November, my goal was to reach 66% of our debt paid off and thanks to the revised Christmas budget we exceeded that goal. I really wanted to see the debt number hit the teens this year but there was no more money to squeeze so we have to wait until next Friday to hit the teens.
My goal for February 1, 2011 is to have 76.6% of our debt paid off. Looking a bit beyond that, I would absolutely love to have all of this paid off by 4/1/11. I think that is going to be a bit aggressive but I’m going to take advantage of more writing opportunities to see if we can make this goal.
