Starting in January 2025 I have decided to really focus in on debt and attacking it systematically and aggressively. I created tiers for my debt:
- Tier 1 – Consumer debt – the shittiest of all debts. Some of this is rolled in debt at a low interest rate, but it is for purchased items.
- Tier 2 – Includes 3 long term debt items that aren’t dire but should be taken care of eventually. They include the debt on my solar panels, debt associated with my boat and debt on my permanent life insurance policies.
- Tier 3 – Not on my radar just yet but these are mortgage obligations.
From January 15 to Feb 15 – my debt obligations actually increased by 1.36%. I am thinking when I do this exercise again on March 15 that I will get all that increase back plus a good amount.
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