What?? No progress? Looking at my balance sheet you will see absolutely ZERO progress from my April balances. Uh oh. So what happened? Well…you remember when banks got in trouble for having their 0ff-balance-sheet debt? Well, I just did the same thing!! And I got the same result. It made my previous numbers look better than they were, but now they’ve caught up with me and it makes my current numbers look bad when compared to my prior numbers. This debt is actually some personal and businesses taxes that I owe to the state. I paid off $2k and I have another $2k to pay off in the next couple of weeks once I have the cash. This will impede my progress toward being debt free by 2012, but I am still well on track to be debt free sometime during 2012.
This does mark the halfway point of the year. In the first half of 2011 my net worth increased by $14k and my student loan decreased by about $12k. I still have a long way to go to reach my goals, but even with this tax setback, I’m making great progress.