Medicated Money

Friday, July 28, 2006

The Debt Repayment Plan - July 2006


With the plans of our upcoming move back to the Northeast, we decided that we would suspend the Debt Repayment Plan for the month of August. Due to this, we then decided to try and pay off as much as possible in the month of July. Our goal is still to pay off a total of $36,500 by the end of the year.

In the month of July, we paid off $4,924 in debt. As you may remember, last month we paid off Student Loan #1, and we are now close to paying off Car Loan #2. Since the start of this goal, we have paid off $18,548. We will need to pay off $3,560/month for us to reach our goal by the end of the year. It definitely will be close after looking at the numbers for this past month, and knowing that we will most likely suspend the repayment plan next month due to the move across the US.

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