An Article from Aaron's Article ArchiveOut-of-Debt By 2012 Progress Update
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Out-of-Debt By 2012 Progress Update
Wednesday, 02 March 2011 3:13 AM MST
Last month I restated my goal, to get out of debt (except for my mortgage) by tax time 2012. This is my monthly progress update, a little late.
A quick spot check of my total non-mortgage debt liabilities compared to mortgage debt as a percentage ratio is currently at 29.17%, down 1.65 points from last 'blog check-in's 30.82% ratio. That's progress in the right direction, but a little slow to reach my goal. And with tax time coming (and I'll have to write a check to Uncle Sam and the State of Utah this year), the next two months may be slow too. *growl*
I hope I can make it up the following few months.
Nevertheless, I'm happy about making headway in the right direction. Last year I'd been backsliding and acquired some new debts. Next month, one of those will be retired and I can "snowball" that monthly amount to help pay off another. A month later (April), depending on how much I end up owing Uncle Sam (I'm still working on my taxes), I may be able to retire the other acquired-last-year liability balance. That will be sweet.