Well, I did my last debt update in January, and like political candidate who has gained his targeted office, have been promising to do another one each month since then. Now, I'm ready to make good on my promise.

Here's the rundown for the last three months:

February

March

Well, it's the new year and I'm already late with my first debt update. Hopefully that's not the trend-setter for all my goals this year!

Anyway, here's this month's chart:

I used to be in the habit of giving debt updates near the middle of each month. I dropped out of that habit awhile ago, but would like to start doing so again.

I debated whether to give my debt update for December, or whether to start with January. Ultimately, I decided to provide a December update, even though it's not necessarily a good one, because I already know that January will show much improvement.

Also, I'm changing the format to a screenshot of my net worth spreadsheet, rather than the table I used previously, for simplicity's sake. And here it is:

Today I paid off approximately $9,800 in credit card debt, and boy does that ever feel good.

According to the debt reduction plan I set up in Aug. 2007, I had intended to pay down approximately $9,200 of my then-current debt amount, which was about $10,000, by the end of this year. That would have left me with approximately $800 in debt, that I was hoping I could either pay off immediately or refinance.

I ran across an article today that asks whether people who currently pay their mortgages are dumb. My primary answer is: Perhaps, but you should do it anyway, for both moral and practical reasons.

Jonathon over at My Money Blog has given a straightforward example of how 401(k) loans are not double-taxed. It's an interesting and informative post, especially because it goes against the "conventional wisdom" that people often give with borrowing money from your retirement account.

Senator Chris Dodd (D-Conn.) recently got caught with both hands in Countrywide's cookie jar in order to get a sweet deal on refinancing his mortgage. He claims he wasn't looking for any special treatment:

"As a United States senator, I would never ask or expect to be treated differently than anyone else refinancing their home," Dodd said in a statement.

Senator Kent Conrad (D-N.D.) is in the same boat. Here's his attempt at ignorance:

Market Watch reports that the Treasury Department wants to solicit ideas about how to change the banking regulatory system, and they offer a few suggestions of their own about which parts may be flawed.

Well, I didn't do a debt update in September, and now it's the end of October and I'm past due for that update as well. I waited to do the September update because a number of balance transfers had taken place that affected my credit card numbers. Additional notes below.

Percentages in parentheses indicate month-over-month changes. Percentages in the far-right column indicate total change since September.

Well, it's time for my monthly debt report for August.

I have to say, I'm a bit embarrassed posting this, and you'll see quickly why.