State of the Debt – July 2007 Edition

That time has arrived again: time for the monthly State of the Debt report. Numbers first, thoughts second…

You may have noticed a big jump in the credit card balance, but nothing to worry about here. I just took advantage of another 4.99%-for-life balance transfer offer. Somehow, no balance transfer fee was attached to this particular offer or I wouldn’t have taken advantage of it. And, as always, if Chase decides to misbehave, I’ll just transfer it back to the line of credit. In the meantime, I’ll take advantage of the cheaper debt.

Hey, whaddya know, for the first time in a three months, a smaller final total makes an appearance — to the tune of almost a cool thousand bucks less! Too bad the true progress is actually poorer than those months where the overall total was on the way up. May and June’s bottom line may have increased, but only because pre-existing renovation bills were arriving; the true balance dropped over $1,800 each month. No bills arrived this months, so the $975 reduction is pretty anemic by comparison. I’m going to have to go over our budget, see what slowed us down this month.

But at least we’re continuing in the right direction…