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Author: dianakalt Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308557  
Subject: dianakalt February update! Date: 3/1/2008 2:33 PM
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Hello All!

Time for my February 2008 update!

Here are the numbers:


Debt Rate Min Pymt 4/30/2007 Bal 3/1/2008 Bal
BOA#1 18.99% $0 $124.11 $0.00
BOA#2 12.99% $0 $0.00 $0.00
Commerce 16.50% $0 $625.32 $0.00
Discover #1 20.99% $0 $3085.00 $0.00
Discover #2 17.24% $0 $4774.90 $0.00
Chase 7.99/1.99%* $0 $2530.93 $0.00
WoW Visa 0% til 9/08 $164 $0.00 $8053.30
ATT #1 5.99% $82 $6118.40 $5442.54
ATT #2 5.99% $105 $7564.74 $6758.57
Amex 3.99% $168 $9781.93 $8097.02
Dad! 0.00% $0 $9000.00 $6000.00
============================================================
Blended 3.07% $514 $43,635.33 $34,351.43


February was a VERY good month to me. VERY good. You see, not only did we get a tax refund, but my TOWNHOUSE FINALLY SOLD! WOOT!

For anyone who has been following this debt paydown saga closely, the numbers above may be a little bit confusing. Up until now, I had been reporting my starting balance from 4/30/2007 as being $34,635.33. However, I changed this number to reflect a new debt. When I bought the finally-unloaded townhouse in 2003, my dad gave me $9000 towards down payment and closing costs. I told him at the time that I would pay him back out of proceeds whenever the house sold. Up until now, I had always lumped that debt in with my house mortgage rather than my unsecured debt. However, now that the house has sold I am tracking it with my CC debt. Unfortunately, I didn't clear enough from my home sale to pay my dad off in full, but I sent him $3000 today as a first payment. DH and I still have about $2900 left that we could send right now, but we are holding on to it for the moment because DH is expecting to have surgery towards the end of this month and we don't want to be too short of cash when that occurs. We aren't expecting to have to pay much for the surgery since he has pretty good insurance, but my dad is amenable to getting paid off over a few months so we are planning to give him the $3000 now and then pay him at least a little bit each payday until we see how the bills come out from the surgery and then agressively pay back.

Other good financial things that have occurred since my last update:

a) We got our e-fund back up to our "scheduled" amount. We had to use some of the e-fund money back in December for some plumbing related repairs. All of that money has been replenished as of today.
b) We paid off our BOA account that was set to have the balance transfer rate expire this billing period. WOOT! We won't have to deal with any nasty 13.99% interest on that account.
c) We got our 2007 taxes done and have received the refund already. Additionally, we have estimated 2008 taxes based on not having our house and figured out how we need to change our withholding. Unfortunately we have to increase our withholding in order not to owe a bunch of money next spring, but at least we figured it out NOW rather than later!

All in all, we're very relieved not to have the additional mortgage payment to deal with every month and looking forward to seeing how much progress we can make on our other financial goals now that we don't have that burden to worry about!

d
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