Back in January, I told you all that I decided to try to pay off our Chevy Malibu in 8 months or less. How are we doing?
Well, if you check out our debt scale on the right sidebar, you’ll see we only have 22%, or $3,286 left of the original $15,000. That’s about $11,300 paid off in just 5 months!
I have 2 more months budgeted to pay off the remainder of the loan. This past month, paid about $11 in interest on the loan from our credit card. Actually, if we really wanted to close out the loan, we could have it paid off this time next month, but I know we have some other expenses coming up, so I’ll hold off on the final payment until August.
Next up? Paying for a masters degree, a potential adoption (more to come), and figuring out which debt to pay down next. We have 2 student loans, 1 credit card (0% right until November) and my Honda Ridgeline.
I’m still considering whether to sell the Ridgeline, but I’d like to think a bit more before making this big decision. It’s really nice to have a truck as a homeowner, but I’ve only used it for things I couldn’t do with one of our cars about 8 times since I bought the truck last March (2006). I’ll post more about this decision later.