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Final 2008 Payment

December 31st, 2008 at 02:34 am

In my previous post, I mentioned that we have $100 left in our checking account. Payday is tomorrow.

I have just made a $100 principal payment to the home equity loan. This brings the beginning balance for 2009 to $13,899.

Once we are paid tomorrow, I will pay all bills and schedule another principal payment to the HEL. I expect this to be about $600!

We have decided to accelerate the home equity loan payoff by using money we previously had allotted for college funding. This doesn't mean we won't save for college this year. We will simply do it later in the year!

All extra money from surveys, interest, cash back from the debit card and ebay sales will also go to paying this debt off!!



Posted in Home Equity Payoff | 2 Comments »

2 Responses to “Final 2008 Payment ”

  1. D Says:
    December 31st, 2008 at 04:27 am 1230697645
    1230697645

    That is awesome! Way to start the new year out!

  2. Amber Says:
    December 31st, 2008 at 01:28 pm 1230730102
    1230730102

    Good for you and I think it is a great idea to use all extra funds to pay down debt, good for you

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