This year, my goal is to pay off my home equity line of credit once and for all!
This month, we made a huge dent into the debt. My husband is paid every other week, so twice a year he gets three paychecks in one month. June had three paychecks, so we were able to devote a lot of money to debt reduction!
(Here's how we did in May, April, March, February, and January.)
So we have now paid off 37% of the amount we owed on December 31, 2011, and 77% 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 we have some large one-time payments coming up, so I expect we won't make as great progress as we did this month. But we'll keep at it until the debt is gone!
How are you doing on your 2012 financial goals? Leave a comment below!
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