Tuesday, May 12, 2015

131829

That is my entire debt within 100 dollar accuracy range.

 Progress report. I wanted to calculate my ENTIRE debt to show myself where I stand compared to my neighbors. In this debt total there are, 2 mortgages, 7 credit cards, 4 medical, 2 401 K, 1 Hud loan, and 1 car loan.
If you look at this total and said it was a mortgage it wouldn't look bad at all. Some people would be ecstatic if this was their mortgage. Unfortunately for me because this is spread to 16 different debts with varying interest and higher payments it cost me a total of 1311 dollars a month (which actually shocks me. I thought it was alot more) If I were to combine all of my debt into 1 mortgage payment I would be spending in the ball park of around 850 to 900 bucks a month which would save me interest monthly income and surprisingly insurance.
A couple of fun facts before I close. 1. The total amount changes weekly( meaning it's going down). 2. The 401 K loans are drawn out of my account weekly so even if I don't have any other payments my total debt will go down. 3. Two of the medical bills could be gone by this weekend. And Lastly. Just 4 months ago this debt was around 143000 dollars. I was able to pay off close to 11000 dollars in 4 months so yay me.

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