by Tricia
Here’s our June Monthly Minimum Debt Payments:
Mortgage: $337 (going to $323 starting July 1)
Auto Loan: $258 (will be paid off in September – only 3 more payments!)
School Loans: $208
Credit Cards: $710
Total Payments: $1,513
Debt to Income Ratio: 45%
Monthly payments are going down and our ratio is going down – I can’t ask for more 🙂
You’re making some great progress! I bet you can’t wait to pay off the car! It’s great having a car free and clear. Which debt are you going to apply that car payment to after September?
I have done some major shuffling of debt lately with balance transfers and also with my Prosper loan funds due to arrive shortly. The Prosper loan will actually be my highest interest rate and normally would be the first debt to tackle. But I am actually going to go after one of the credit cards first. I’ll try to lay out my game plan shortly in a post.
The best part about my car is that once it is paid off it is still worth around $5,000! Pure asset 🙂