Friday, July 27, 2012

Delve Into Your Finances in 2012 July 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, here's how we did:

 We didn't make as much progress as we did last month.  But that month was a three-paycheck month, so I knew we'd be able to make a large payment.  This month we had several one-time payments for car insurance and religious school tuition, so there was not much left over for debt reduction.

(Here's how we did in June, May, April, March, February, and January.)

So we have now paid off 39% of the amount we owed on December 31, 2011, and 78% 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 hope to make a bigger dent in the remaining amount!

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

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