How Much Interest We’re Paying – March 2011

by · 18 comments

Every month I calculate how much interest we’re paying toward our debt.  I figure the monthly and daily numbers and compare them to past amounts.  I display them publicly as an exercise in motivation and accountability.

I hope the exercise will motivate you to do the same and have made available the spreadsheet I use to crunch the numbers.

How much interest in March 2011

In summary, the interest on our debt cost us $1,042.41 this month which amounts to $33.63 daily.

Compared to January of 2009 when we paid $1,328 and $42.84 daily, we now have an extra $9.21 going into our pockets every day.  Woo hoo!

While the numbers are still $33.63/day higher than I would like them to be, I am very happy to watch them decrease month after month.

Do you know how much interest you pay on debt each month and each day?  Perhaps it’s time you did.

Other thoughts for the day

It’s no wonder that our progress of getting out of debt has slowed since I left my career position back in November of 2010.  Since leaving I been through a lot of emotional ups and downs related to what work I should be doing, what my purpose in life is, and how to best go about serving that purpose.

Here are just a few specifics of what I’m beginning to call my mid-life crisis:

  • First I was going to be a full-time blogger to pay the bills
  • Next I started DFA Missions in an effort to live more purposefully
  • After that I jumped at an opportunity to become a Certified Financial Planner
  • Now I am again pursuing full-time blogging, but with clarified and strengthened  resolve

As you can see, and may have noticed, I’ve been jumping all over the place over the last 6 months… and it hasn’t been easy.  The good news is that the Lord has helped clarify things along the way and I have been moving forward with a combination of several of these things.

Although I dropped the ball on following through with several DFA Mission posts, and in my efforts to grow blogging income to full-time salary replacement numbers… I am forging ahead and excited for the future.  I apologize for my lack of follow through on DFA Missions and will be publishing articles to update you on the progress.  While I failed miserably with The Bible Mission (reading 23 chapters of the bible each day,) The Wardrobe Mission was actually very successful.

I will publish more details about past and future missions soon, and am excited and confident about moving forward with blogging full-time.

As a point of clarity, blogging full-time is better defined as content production and marketing, which is cool because it allows you to get up every day and create something that brings you joy and helps other people… which is my ultimate goal.

Thank you for you patience and prayers, please keep them coming!



Betterment is one of my two favorite ways to earn interest on my savings! They have an awesome program for the Average Joe to save and invest simply and effectively. There are no minimum balance requirements and no transaction fees. Read my Betterment Review or open an account to get started earning now.

1 Fern

I’m not a fan of ‘blasting through the Bible’ reading. Okay – I think it has it’s place, but that would be for the FIRST time one reads thru’ the Bible (as a teen or young adult).

After that, I prefer the approach that Judaism uses – a few chapters a week, enough to have meat but also let you delve deeply into text. Yes, to go thru’ the ‘entire’ Bible that way takes more than a year, as this approach is set up to take you thru’ the Torah every year, as per the Jewish priorities. Adding the Writings and the Prophets, let alone y’all who are adding the Christian Scriptures, would add several years to the process.

I blogged recently on a similar topic, from a Pagan perspective. We tend to buy LOTS of books, but not find time to read them or only read them and not do the actual work involved (meditation cycles, creating tools, actually taking the time to learn this that or the other skill, etc). I suggested folks take a moratorium on buying and actively work thru’ what they already have. It’s working out well for me in my life – uh, except that my Pagan readers have stopped buying books thru’ my Amazon and Google Ads links!

2 Matt Jabs

Yeah, sometimes our strategies conflict with our ability to earn!

I also agree about scaling back reading to MUCH smaller chunks. Now I am on a plan that takes me through about 3-5 chapters per day and is much more manageable. If I miss a day I don’t try to make it up, I just pick up where I left off. It works much better.

Thanks Fern.

3 Chris @ cfcents

Glad to see that the Lord has provided you with new clarity on your mission in life. I know you will be successful in whatever you put your energy into.

4 Matt Jabs

Thanks Chris, I agree.

5 Jenna

Excited to see what this new clarity has brought to the DFA Mission!

6 Matt Jabs

Thanks Jenna, me too.

7 David H.

Checking in on you. Good luck with your mission on blogging full time. I’ve fallen off blogging myself, but I’m trying to get back into it. Let me know if there is ever anything I can do to help.

Cheers

8 Matt Jabs

Thanks David, I appreciate you reaching out and will let you know when I need a hand.

9 Jonathan Elder

Man, respect on blogging full time. That is a dream job for me. I’m using it as a hobby right now, but who knows, it may grow into a side income 🙂 I’m excited to track your progress Matt!

10 Matt Jabs

Thanks Jonathan… I’m excited to make the progress! 🙂

11 MD

It’s sort of impossible for a 23 year old to relate to a mid-life crisis. I will say this thought: congrats for having balls! My core group of friends ranges from 22-32 and let me tell you that I know WAY too many 20-somethings working jobs that they hate because they’re afraid to take the leap. I respect you for being so brave. Keep it up. Create your own luck by working damn hard.

12 Matt Jabs

Yeah, when I was 23 I didn’t think MLC was a real thing. Making the decision to die as an employee and embrace self-employment was one of the harder things I’ve ever had to do, since our entire society sets us up to be worker bees and not creative producers. After making the decision I have gone through a lot of confusing ups and downs but am now ready to embrace it and work hard for myself instead of for others!

13 MD

I’m curious as to what projects you plan on working on and what’s next for you.

14 Matt Jabs

Sure Martin, hit me up via email – I’m always happy to talk.

15 Jason L

Matt,
Haha, you seem way too young for a midlife crisis. I’d be interested in hearing more about your journey as a blogger, however. Definitely not the life for me, but perhaps we could work together somewhere down the line. (I work in social media and gaming).

Jason

16 Matt Jabs

Hi Jason, perhaps I am too young for a mid-life crisis… but sometimes it sure feels like it – I’m 35, so I guess if I died at 70 then this is perfect timing. 🙂

If you have ideas for collaboration just shoot me the info through the DFA contact form. Cheers.

17 Jason

I tell all my clients: Never borrow money you don’t have, unless you absolutely have to and you have a gameplan for paying it back in time.

18 Matt Jabs

Good advice Jason… where were you 4 years ago? 😉

Previous post:

Next post: