I used to be so set on being able to say “I am debt free”. While I still think debt freedom is a worthwhile goal, it is no longer my main focus.
For a quick overview of my full financial goals that I hope to hit before 30, check out this short video linked below.
Progress Thus Far
While I would love to stop paying Honda $404.65 each month, I have other priorities that are, quite frankly, more important. One on my main goals this year is to have my retirement accounts finally hit $100k.
I discovered the financial independence and retire early movement in 2018 and have been hooked ever since.
After paying off over $20k of debt in one year, my main focus has changed from debt pay down to wealth building. So this month, I only paid Honda $404.65.
CURRENT DEBT TOTALS
- Student Loans = ZERO
- Car Loan = $8,917.78
Total Debt As Of March 2021: $8,917.78
THOUGHTS ON DEBT PAYOFF PROGRESS
Last month I had shared that when I logged in to Honda, it actually says that I do not need to pay them $404.65 but rather $223.25. I figure this is probably because I am “ahead in payments”.
However, I am not going to do that.
It seems like a lot of work to have to log back in and re-adjust my payments. My fear is that I only owe the smaller balance for like 2 months and then I will forget to log back in. I would rather not have these problems, so $404.65 it is.
Useful Articles About Getting Your Finances On Track
- 3 YEARS OF FIRE: WHAT THE FIRE MOVEMENT HAS TAUGHT ME
- WHAT TO DO WHEN YOU CANNOT PAY THE BILLS
- WHY THE DEBT SNOWBALL METHOD MAKES SENSE FOR A MAJORITY OF PEOPLE
Are you currently working to pay down debt? If so which debt?