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.
- $18,000 has been paid into my 401(k)
- $101,690.94 –> $74k = $27,690 down on mortgage.
- $5500 IRA
- $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.
If we include investing here, the order is like
$33k home ($27.6k principal paydown)
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.]