The Chris Gonyea Project

Operation Debt Reduction is going well. Thanks to paying off some old debt, tightening up the finances a little bit, and working with the good folks at Comcast to reduce my monthly bill, my debt snowball is starting to work. Also due to this month being an extra paycheck month (5 weeks = 5 paychecks, instead of the normal 4 paychecks a month), I will be able to apply the extra paycheck towards debt reduction as well.

I now have about $224 a month going directly towards debt reduction. Doesn’t sound like a lot? It will nearly pay off $1000 worth of debt every four months. At my current pace, I will have my last credit card with a balance paid off in August. Actually, counting my extra paycheck this month and the profits from some eBay sales I just pulled off, that credit card could be paid off by the beginning of July.

With no more revolving debt, I will start taking care of some of my installment (loan) debt. First to go? A student loan with a $550 balance as of this moment…what a good feeling that will be to get rid of my first student loan. Good news is I will be paying about $250 a month on that student loan thanks to the debt snowball, so that will basically be paid off in just two months.

After that, the most likely candidate to be targetted is my car loan. I did some rough math and counting interest, in theory I could have it paid off by October 2009 (roughly a year and a half away), about two years before its original payoff date.

Wouldn’t that be nice? No car loan, no credit card balances, and even a student loan paid off. Gotta get the first part done first though!

Tomorrow is the #26th time I have seen May 11th. Going to a Thrice concert with my brother Justin tonight (my brother Dan has to go to a prom tonight, the nerve) and then up to my hometown tomorrow for a cookout with my parents, brothers, and wife. Should be a good time.

It is weird how fast the world goes today. A lot has changed in the past year. Becoming an uncle, getting married, losing a dear cousin of mine, and so on.

Is there any legit reason in 2008 for a bank’s web site to not let you view your current auto loan balance? After all, you would think that since they have online banking that displays your checking/savings accounts, it would be easy to display your auto loan. Apparently not though.

Enter the 21st century people. Seriously.