Debt Payoff Progress for May 2013

turtleGood news!!  Even though it seems like things are moving incredibly slowly, we were able to get things back on track and break below the psychological $200,000 mark.  I was a little bit concerned during the month of May that it would be tough to get going again, but clearly there was quite a bit of progress.

 

Here are the monthly results:

February 1, 2013:  $204,682.21

March 1, 2013:  $202,074.40

April 1, 2013:  $200,241.22

May 1, 2013:  $201,650.44

June 1, 2013:  $197,517.24

 

Going forward, my wife and I are still doing some work on the house which may slow progress during the summer months, although it ultimately may have little to no impact.  We are wanting to pay for the work as it occurs, but may need to use a credit card to massage cash flow depending upon when the work happens relative to pay day.

Part of the results from May were reflective of this.  We put a purchase on a credit card to save 5% on the purchase, then I paid it off once the bill was received.  So far this month, we put a deposit down for a fence while simultaneously making an extra payment on another credit card with a higher interest rate spending the cash in the process.

Ultimately, the goal would be to be close to $150,000 by the end of the year.  I don’t know if this will happen since there are a lot of real estate issues with which we are dealing which will divert some of our cash.  But there are also some potential bright spots as well so who knows what will really transpire.  We just want to keep seeing consistent monthly progress and see where it all ends up in 31 more months.