I redid my Quicken debt planner the other day and took out the mortgages so that I could see how long it would take us to be debt-free minus the mortgage. I thought if I broke it all down into a smaller goal that would help keep me on track since it would be a shorter time frame.
The results were:
- all bills but mortgages paid off in Feb. 2010
- $4,125.98 saved in interest
- CC#1 paid off in Feb. 2007
- CC#2 paid off in Sept. 2008
- furniture paid off in March 2009
- car paid for in Feb. 2010 (2 years and 1 month ahead of payment schedule)
Hopefully, it won't take as long since I didn't add in the extra money that I know will be coming in that I plan on using to make extra payments. And in January I'll be adding more to the payments out of my raise also.