Halfway mark

On the original pay-off-the-condo-as-fast-as-possible plan, I’d be at the 52.4% mark.  The dollar figure associated with that is $53,346.  Let’s compare where we are to that.

  1.  $18,000 has been paid into my 401(k)
  2. $101,690.94 –> $74k = $27,690 down on mortgage.
  3. $5500 IRA
  4. $2000 Lending Club

$18k + $25.5k  + $5.5k + 2k= $51k.  The difference, $2k, isn’t too big.  I had planned on paying down $53k in debt, instead I’ve paid down $27.6k in debt and then did $25.5k of investment, so $53.1k.

The original plan had my mortgage balance pegged at $48k by June 1.  I’m $26k off from that.

BUT!  I have spent a lot more cash on things than I planned on spending.  This means my savings is at $9k when I had planned for it to be at $19k.  This will obviously impact my future investing.

In total, I’m off by $10k, which corresponds very well with adding together the shopping and travel categories of my expenses below (=$12.8k).  I didn’t account for either of those in the original plan.  If I had included them in the plan, it might have made it easier emotionally to say no to some of it.

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If we include investing here, the order is like

$33k home ($27.6k principal paydown)

$27.6k investment

$8k shopping

$5k travel

Adding all that up, the shopping and travel is about 18% of spending.  The principal paydown and investing is about 71%.  I’m ignoring food, bills, and auto just b/c I’m in a hurry and they are way lower than the other categories.

[Note:  I updated this charge on a future date and removed $1600 in charges from Apple that were work related and re-imbursed… so the numbers don’t match the overall spending breakdown above.]


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