Debt Progress - May 07

June 13, 2007

Along with my Retirement Progress, I’m also gonna track my debts.

I don’t have any CC debt. I pay them in full every month, so I don’t consider them debt.

I do have 2 car loans and a huge mortgage.

Yeah, I know that financially speaking, cars are not a good investment. Sometimes I feel like kicking myself for spending so much money on cars, because I didn’t think things thoroughly before buying them, but you gotta live a little. I really enjoy my car rides. Whenever there’s any issues at home with the missus, I just go for a ride and it calms me quite a lot.

As you can see below, I still owe some $7k on one of the cars and $18k on another one.

I have been putting serious extra money in the payments, so I believe I can pay the cheaper one in a few months.

My mortgage is the one that scares me. My condo is currently worth some $550k+, so that is some nice equity. But just the thought that I still owe 300K+ really makes me nervous.

Posted in Debt Progress, Finances