A couple weeks back I posted an update on our debt progress. From 11/2012 - 11/2013 we paid off almost $35,000 in debt. At this point in our lives, debt means mortgage debt either on our primary home or our three investment properties or our piece of land.
I didn't think much about that number, except I liked it because I like round numbers. But, going back through our networthiq.com numbers I realized that our debt progress in 2013 took an unusual jump (thankfully in the right direction).
11/2012 - 11/2013 - @$35,000
11/2011 - 11/2012 - @$22,000
11/2010 - 11/2011 - @$20,000
11/2009 - 11/2010 - @$19,500
11/2008 - 11/2009 - @$19,000
I'm sure you can see that from 2008-2012 there was a gradual and upward trend on the amount of debt we killed each year. And then, all of sudden, whammo, this year a thirteen thousand increase. Even putting aside the mortgage principal prepayment goal of $5,000 (which was also a goal last year and the year before), I am surprised by this dramatic forward progress. I'm going to have to further investigate the numbers, but I'm assuming this year's dramatic advance is as a result of our primary home refinance, which closed last quarter of 2012, in which we shortened our term and got a reduced rate of 2.75%.
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