Friday, April 4, 2008

Debt roundup #14

March turned out to be a pretty decent month for debt paydown. I had planned on opening an IRA for each of us and thought that I would not put much towards debt payments. Instead I opened one IRA and paid the rest on debt. And I plan on opening the other IRA before April 15th.

As of 3/31/08, here was where I was at:
  • Car loan = $11,756.68 (last month was $12,014.03 )
  • Credit cards = $18,998.90 (last month was $22,187.75)
  • School loans = $155,444.93 (last month was $155,444.93)
Student loan balance did not change as they are in deferment and no interest was added this month. Of course, just yesterday I got some stuff from Sallie Mae about accrued interest that is set to be added to those loans. Argh.

Note the excitement though of getting the credit cards not only below $20,000 but even below $19,000!!! Woo hoo!

That balance is for only 3 credit cards. One has a balance of $599, one has a balance of $1440 and one has a balance of $16, 791. Luckily, the highest balance card is also the lowest interest rate!

In fact, it's interest rate is even lower than the car loan. So that means, that the plan is paying off the two smaller balance cards and then moving on to the car loan.

Also on the agenda this month is another IRA to be opened.

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