Glancing at the calendar, I notice that almost half of the month has disappeared in a pile of other people’s tax documents. The brain is just a little crispy right now… 
Which is not to say that little has gotten done with our debt destruction progress. Actually, all of a sudden our future debt reports have gotten incredible simple. Not that they were all that complicated to begin with, but by the end of this month, the report would consist of a single line containing our mortgage balance.
That’s right. As of sometime next week, when our medical bill shows up and we write out one more check, we could call up Dave and shout WE’RE DEBT FREE! Well, except for the mortgage, which Dave seems OK with. Which always felt a bit disingenuous to me, when most people’s biggest debt is an oversized mortgage, but that’s a whole ‘nother post.
So, how did we kill off $27k+ in a single month? More awesome side job income? Nah. I didn’t tap those funds at all. Just letting those stockpile up for the time being for next year’s tax bill. Instead, we finally got rid of my father’s gift, which covered the loans taken out against it along with leaving a few thousand extra to work with. We plan to kill off the last of our medical and use the rest as an initial boost to a real emergency fund. OK, and we may blow just a bit of it celebrating. 
Anyway, enough prattling on. Let’s take a peak at what is probably the final State of the Debt report:
| Jan 31’09 | Mar 13’08 | Change | |
| EVERYTHING We Owe | |||
| Home Mortgage | 38,265.60 | 38,215.28 | (50.32) |
| Low Energy Loan | 13,670.00 | 0.00 | (13,670.00) |
| Line of Credit | 12,941.28 | 0.00 | (12,941.28) |
| Medical Debt | 2,565.31 | 2,065.31 | (500.00) |
| TOTAL Liabilities | $67,391.87 | $40,229.71 | ($27,162.16) |
So what’s ahead?
The State of the Debt reports are probably done. Seems a bit boring to report something like ‘Yep, made another mortgage payment.’ I fully intend to accelerate paying that mortgage off as quickly as possible, but a monthly report on that progress? Eh. Maybe in passing I’ll mention milestones, but really, I’ll have to see if I can come up with something a little funner to point out…
Like I alluded to, a real emergency fund, in the neighborhood of six to twelve months of expenses. Haven’t sat down to ponder the exact level, but somewhere in there. Our miniature one has come in handy when stumbling blocks appeared along this path, but having something substantial in place should a more extreme emergency make an appearance definitely would be a good idea. Plus, having that to fall back on gives you freedom to take advantage of opportunities you’d otherwise be hesitant to consider otherwise.
More life simplification. In my free time (in other words, not in the last six weeks or so) I’ve been reading quite a bit on life hacking. Think along the lines of books such as:
- Margin by Swenson
- Your Money or Your Life By Dominguez & Robin
- The 80/20 Principle by Koch
- The Myth of Multitasking by Crenshaw
Like too many people anymore, I spend far too much time doing things that add far too little to my life, and far too little on the things that actually do.
I will be correcting that imbalance.
