Keeping on track

February 7, 2009 at 1:59 pm (goals) (, , )

I updated my No Credit Needed chart, and with a really small recent payment of $54, saw a small change in my debt percentage (in a tenth of a percent point). I was curious to see what that meant in the larger scheme of things. Basically, I need to pay 1.34 % of my total debt or $627 per month to discharge my entire debt within 6 year goal (even though I’m hoping and planning for 5.5 years).

Is that doable? For those of you in debt, how much do you put towards debt per month, on average? I had a big expected (but not saved for) expense recently, after just starting budgetting for the first time. I also just got a pay increase, $2K per year, not including overtime. With overtime, that’s about $4-5K extra.

I guess we all fall off the wagon sometimes – I just have to make up for it right afterwards. Now that I have my ducks in a row – my 0% discover card just opened with money transferred, my big looming computer purchase finally out of the way and paid for, and my raise in place, and my budget in fairly good shape after 3 months of fine-tuning, I think I should do ok in February.

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