Medicated Money

Friday, September 01, 2006

The Debt Repayment – August 2006

We knew coming into the month of August that we were going to suspend our repayment plan and just pay the minimal amounts on each bill. It still was disappointing to see that we only paid $1,000.96 to our bills. I was getting use to seeing the total debt get smaller and smaller each month. As for our goal of paying off $36,500 by the end of the year, this will definitely make it even more difficult.

In the month of August, we paid $1,000.96 to our repayment plan lowering our total goal to $17,547 left to pay off. This means we need to average $4,390/month to reach our goal! My guess is that we will not be able to reach this goal due to the expense of our move and we are running out of time. However, I am optimistic that we may be able to complete this goal. We'll just have to wait and see!

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