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!