It’s been awhile since I’ve really talked about (or looked at) my total debt. As most of you know, I paid off my last credit card in July of last year. Since then, it’s kind of depressing how little I’ve had to get excited about where my debt is concerned. (Check out my debt and savings page to see the details of where I am right now.)
Now that I’m not knocking out a debt every few months, it’s easy to forget that I AM still making progress. Yesterday I updated my numbers and realized I am finally under $50,000 in debt! While that’s nothing to throw a party about, it IS a significant milestone and I don’t want to ignore it. When I got divorced in December 2009, I had a little over $61k in debt, so I’ve paid off about $12,000 in three years.
My car loan is just barely under $9k, down quite a bit from the $12k I refinanced a year ago. I’d really like to see this debt GONE in the next 2 years, though I’m not sure I’ll be able to do it. I’m thinking more and more about a part-time job (though not the one I talked about earlier this week!) to give me extra money to put toward my car loan. At any rate, I’d like it to be paid off before Jayden needs a car in the fall of 2014. He has about $7k in savings to pay for a car – I’m not financing a car for a teenager, so it’ll have to do.
As for my dreaded student loans, they’re still deferred and will remain so for the foreseeable future. The payment is enormous and I just can’t think about it right now. Once I (a) pay off my car or (b) become independently wealthy, the student loans will become my priority. I’m determined to pay them off before my 40th birthday. It’s less than 11 years away, so I need to get going!
What about you guys? What progress have you been making lately? Any milestones you didn’t celebrate because they didn’t seem important enough? Let me know what’s up!