Last Personal Loan Debt Reduction July 2010

August 5, 2010

I’m keeping track of my payments towards my final debt balance (besides the house) to kinda see the progress as we reached my goal of having this gone by or in ~~December 2010~~ April 2011. This report is slightly different because there is no interest on this, as it was a loan from a friend.

Starting Balance of Debt in July 2010: $4850
Total Payments in July 2010: $50
Total Payments YTD: $200
Starting Balance for August 2010: $4800
$0 Goal: ~~December 2010~~ April 2011

Notes for this month:
What happened to June!? Well, no payments happened in June, unfortunately. Dad’s emergency gall bladder surgery took up the excess I would have used for debt repayment.

Why is July’s payment so small!? Because of the above, in addition to a new air conditioner and getting dads truck fixed, I created excess debt and decided to make minimum payments on this personal loan until this new interest debt is gone.

I don’t know whether I’m going to make posts on the interest debt that was created, only because it’s fairly small and won’t last that long. I hope to have it paid off soon enough so that I’m only focusing on this debt again.

Additional Payments in this series:
May 2010