About Me

Wednesday, February 27, 2013

Debt Status

My debt on the rental apartment is now below USD 8,000 with final payment due in May 2014. My new windows are still being paid and I will be done with those payments in July.  I have realized that I have another small payment I had been making for the insulation project for my current apartment.

I used TL figures to tally up all my debt as of today:

14,041 Rental Apartment (Starting amount 48,710)
     780 Insulation of current residence (starting amount 2,080)
  1,440 New Windows (starting amount 2,300)
16,261 Remaining Debt (Total Starting Debt 53,090)
USD 9,053                                              USD 29,558

I am planning to have the bathroom re-done and the whole house painted in June. I already have that money in my savings account. 

I would love to pay up all of the remaining debt but, I just do not want to sacrifice my liquidity. My bathroom project may end up being costlier than the estimate I have been given. Also, I am expecting guests from the US this summer and I cannot quite estimate what that will cost. They would like to spend a week in Istanbul and a week by the Aegean Coast. So, I am holding on to the cash I have and trying to build up even a bigger cushion.

Slow and steady I guess...

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