Monday, November 4, 2013
November is off to a good start.
I Ended October with $7000.00 owed on my Personal Loan before a there was a $150 automatic transfer payment on my loan which happens every pay day. After interest was paid and loan insurance add on I was left with $6,860.69 left on my loan. but for Math purposes I am going with the $7000 total.
I am renting out a room in my house to help pay off the loan faster and to cover regular home maintenance costs. My renter pays rent of $275 twice a month on the 1st and 15th when she gets paid. I let her carry over a partial rent payment last month so I paid $400 on 1 Nov.
I used $350 towards my Loan and kept $50 for housing costs. After paying $1.50 in interest I now owe $6,512.19 on the loan.
So I have paid off almost 7% of my loan this month.
Since I got the loan I have paid off 34.87%
Here is what else I expect to pay towards the loan in November.
$85 from the extra money on my Mortgage
$300 from the 2 payday automatic transfers
$200-$275 from my Rent payment, for now I will plan on using $215.
so that is an additional $600 towards the loan this month. Now to see what else I can sell or save to help pay off the debt.