It feels like I’m not making any progress this month. I’ve got waaayyy too many bills. Bills for house renovations that haven’t even started yet are starting to appear: the building permit application fee yesterday, appraisal fee for the house tomorrow… and that’s only the beginning. Frankly it’s all scaring the crap out of me.
I’ve pretty much accepted the fact that I’m going for broke the rest of the year but that doesn’t mean I like it.
See it sucks, it’s pretty quick and painless getting into debt but it takes a bloody eternity to get out again. I’m scared I’m going to come out of this year worse than I went in. So, just to be clear with myself I decided to pull out the monthly statements I get from good ‘ole Bank of Montreal every month for my Student Line of Credit.
Yep, when in need of a pick-me-up I stare at financial statements. 😉
On December 3, 2009 I owed the most I ever owed on my SLOC, checking in at $16,042.66. As of August 2010 that was sitting at $15,938.06, so not impressive. (But consider, I did pay off $5,000 in credit card debt in that time frame)
After August 2010 I started to actually make an effort in paying down my SLOC, observe;
Jan 3, 2011: $15,442.89
Feb 3, 2011: $13,108.94
Mar 3, 2011: $13,028.07
Apr 3, 2011: $9,417.90
May 3, 2011: $8,082.21
Jun 3, 2011: $7,825.94
and as of July 3 the balance should be about $7,000.
Am I making progress? Hells yeah! Does it feel like it? Nope. It’s a loooong road to debt free.
Ps: IMG source.