Thursday, April 15

Debt Update

Debt reduction has been my major focus in 2010. I can already see the results in reduced interest fees:
  • Mortgage Interest paid in December, 2009: $1,311
  • Mortgage Interest paid in March, 2010: $1,293
  • Personal Interest (credit cards, car loans, etc.) paid in December, 2009: $476
  • Personal Interest (credit cards, car loans, etc.) paid in March, 2010: $386
In just three months, I have reduced my monthly interest expense by $108.

I have not made any extra principal payments on mortgage debt this year. Instead, my focus has been on paying down revolving debt as well as my car loan and personal loan (Prosper.com loan).

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