Friday, May 25, 2012

Delve Into Your Finances in 2012 May update

Welcome To Delve into Your Finances in 2012!

This year, my goal is to pay off my home equity line of credit once and for all!

This month, we continued to make a nice large payment toward the debt.  More than in April, not as much as in March, and a lot more than in January and February.

So we have now paid off 23% of the amount we owed on December 31, 2011, and 73% of the total debt that we had incurred on our home equity line of credit in the years that we used it.   We haven't used it in several years, and though I won't close the account once it's paid off, I hope to never need to use it again.

Next month I'm hoping for another big payment - my husband is paid every other week, so twice a year he gets three paychecks in one month.  June has three paychecks, so I'm hoping to devote one full check to debt reduction, plus a portion of the other two as well.

How are you doing on your 2012 financial goals?  Leave a comment below!

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