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I actually can’t believe it’s been 2 full years. I frequently review our progress on my overly-complicated Excel sheet because otherwise it feels like I’m not doing anything. I mean, there’s only so much debt you can pay down a month or savings you can store away at a time, and in between those times I think “Oh my god so slow…”. So in 4 easy numbers, I’m gonna list the net changes in the most important categories (maybe we should all be grateful I’m not adding charts. I could, you know).
1) Debt: 2 years ago, we had $47,520.00 worth of debt. Roughly. That was between credit cards, a TV, a new bed, and student loans. Now we have $31,843.19. Only student loans, no interest rate higher than 3%.
Net improvement: $15,676.81.
(Interest also dropped from a max of 27.24% to a max of 2.36%. Of course that saves $$$)
2) Savings: We had $149.14 saved when I started this blog. It may not look that great to only have $7469.74 now, but remember that we prioritized getting out of debt and moved during that time.
Net improvement: $7, 320.60 (50 times higher!)
3) Retirement account: $3,198.11 as of 2 years ago. $12, 339.63 now. That’s mostly passive saving for one thing, and recently a lot of gains outside my monthly contributions. (Go stock market, GO!)
Net improvement: $9,141.52
4) Net worth: Only means anything to me insomuch as it means we’re not digging ourselves deeper. No one’s gonna kidnap me for ransom for our net worth anytime soon. Unless they are extremely stupid. Was: -$47,370.86. Is: -$24,681.53. Yes, it’s still less than $0, but it’s almost half as negative as it was. (Oh yeah, I didn’t add in the retirement stuff to this. Whatever, it’s possibly better than this if you think it should be included).
Net improvement: $22,689.33
At this rate we have 2 more years until our savings matches our debt and our net worth is $0. After that (yeah, hopefully) it’ll go positive, especially once that debt is gone.
What am I proudest of in all that time? I’d say the debt reduction, definitely. It’s just nice to not have any consumer debt any more, and since all of the debts have interest rates far surpassing our savings accounts, it’s a huge drain on our income that we don’t have to deal with.