The Nitty Gritty

This is going to be a hard post to write, but I want to be as transparent as possible so I am going to suck it up and deal with it. Today I will be sharing all of my debts. I actually have no idea what the total will be and I am a little nervous to find out. 

Here is a list of my debts as of February 1 when I officially started really focusing on paying off debt: 

Credit Card 1:  1977.25
Credit Card 2:  5,016.29
Student Loan 1:  89.14
Student Loan 2:  141.45
Student Loan 3:  503.36
Student Loan 4:  4685.15
Car Loan*:  35,000.00
RV Loan*:  47,000.00
Mortgage*:  146,000.00

Total:  $240,412.64

*These aren't the exact amounts but should be close. 

Honestly, I am a having a little anxiety by seeing that number. I knew it was high but I wasn't expecting to be almost a quarter of a million dollars high. Realizing that is very overwhelming and makes me want to focus even more on getting it paid off. 

Now some of this is what I called "shared debt"; meaning that I share it with my husband. This is stuff that we talked about and went into together. While I do want to get that paid off, It is not my main focus. My shared debt is the Car Loan, RV Loan, and our Mortgage. 

My debt is the stuff that I got into by myself. Some of it was recent, such as the credit cards, and some of it was before we were together, such as the student loans. 

So for my main debt that I am focused on: 

Credit Card 1:  1977.25
Credit Card 2:  5,016.29
Student Loan 1:  89.14
Student Loan 2:  141.45
Student Loan 3:  503.36
Student Loan 4:  4685.15

Total:  $12,412.64

I've decided to use a modified Snowball method to pay off my debt. I will be paying off the debts in the order they are above. So for now, I'll be paying the minimum balance on everything and put everything extra towards Credit Card 1. My goal is to have it paid off by the end of March. 

I realize that my student loans are low enough that I could easily pay them off but they are not accruing much interest so I would rather put that money towards my credit card balances. On Credit Card 2, I am paying almost $100 a month in interest!!! That is ridiculous and the reason that I am itching to get these paid off fast! 

I'll be back tomorrow to talk about how I plan to tackle my debt so that I can get rid of it as quickly as possible.