Debt Update
Posted
Saturday, June 07, 2008 4:33 AM
I know I haven't posted in a while (for shame!) but here's an update on the financial situation. DH and I have decided to put off our house-buying dreams until the spring of '09. By that time we should have enought debt paid down, and down-payment saved up to seriously re-consider our living situation.
As far as the debt goes, we've paid off almost $12,000 in the last 6 months, which leaves us with about $12,000 remaining. In other words, we've just crossed the halfway point. If we continue our aggressive/willy-nilly repayment strategy, we'll be completely paid off in about 8 months.
It's really exciting to see our savings growing and our balances shrinking. Right now we have about 35k saved up, but it's all in one lumped-together savings account. I think in the very near future we'll be splitting it up into an emergency fund with about 3 months' savings, and then a separate account for the future house downpayment.
Posted by
angel28783
Filed under: Finances