Tuesday, October 19, 2021

Transfer Tuesday: Paying Down Debt 10/19/2021



Hello Tuesday!  This is the day that we make an extra effort to pay down our debt and slide into retirement debt-free.  Most every Tuesday we apply extra cash (whether it be BIG or small) to our outstanding debt.  This helps keep us aware of and accountable for our debt. And it all makes a difference.

Our only debt is a HELOC with an interest rate of 2.24% The minimum monthly payment goes towards the PRINCIPAL and the INTEREST.   I am chipping away at the balance until we sell my deceased mom's house that is currently being used as a rental. At that point, we will pay off the rest of the balance.  Until then, I will be sending in payment to this debt and/or to my taxable investment account every Tuesday. 


Previous balance on last Transfer Tuesday Post  $63,893.00

eBay gross earnings  10%     $15         

New HELOC Balance:   $63,878.00

When we started paying down the debt in Sept 2019 we were at $95,853.00

How was your Transfer Tuesday? 

My inspiration for Transfer Tuesday is Pennies Not Perfection


  1. Just a question....could you sent the rent you receive on the house(anything you don't need to pay taxes or repair stuff there)to your debt until you decide to sell her house?

    1. Good Question. The house is rented by my son, so.... well, we don't make any significant profit. If repairs are required, or trees need to be trimmed he pays for it.

      He is saving for a house of his own, but with the market so OVERpriced,as a single person it will be difficult for him to find a decent place. Unfortunately, he could not afford this house. On the positive side, when the housing market does SLOW down, he can find a place and due to the location of my parent's house, we will not loose much in value.

      I think WE ALL know things will have to change when hubs retires in 19 months. It is a sticky wicket, because I allow to be so.

  2. Good for you. I have so many large bills due in December that I am scared.... better start saving.

    1. Kim, I have no doubt that you will meet your goals.