Thursday, August 30, 2012

Delve Into Your Finances in 2012 August 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:

Yet another month with unexpected expenses... well, okay, I should have expected that I would need to have the trees trimmed prior to hurricane season.  And I should have expected some large car repair bills, what with having two cars that are 9 and 11 years old.  And I certainly knew about my daughters' activities.

Basically, we need to do a better job of budgeting. 

We did pay off 1.5% of the debt total in August.  (Here's how we did in July, June, May, April, March, February, and January.)

So we have now paid off 40% of the amount we owed on December 31, 2011, and 79% 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 again 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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