As tends to be my norm lately, I am late with giving an update. With only two debt remaining in our snowball, there isn’t a lot going on. I must say that it feels strange being down to just these two debts. I have looked at my budget binder countless times making sure I haven’t missed a payment somewhere. No complaints. I’ll gladly take this new strange feeling!
As always, here is a summary for those who might be new readers or for those who prefer not to do the math!
1-1-2017 $55,749.69
1-1-2018 $46,408.39
11-19-2018 $13,695.13
To spare you the math:
Our total debt reduction so far for November is $900
Our total debt reduction for 2018 is $32,713.26
Our overall debt reduction since our start in 2017 is $42,054.56
And the breakdown and corresponding interest rates of what we still owe:
Citi $5,100 (0%)
Visa $8,595.13 (5.99%)
TOTAL 13,695.13
As for the rest of November, Visa will receive another $200 which will bring it down another $150ish. Citi will receive at least one more payment of $300. With five Fridays in November, whether or not they receive the 5th payment will depend on Hub’s check. We are also planning on taking a short trip to see family over the upcoming holiday. Fortunately, my dad and Hub’s mother only live about an hour or so apart from each other. The biggest expense will be gas and my loss of wages for a couple of days. In other words, not a huge hit to our budget.
I have a couple of hectic days ahead, so if I don’t get an opportunity to write another post before the holiday, I wish every one of you a very Happy Thanksgiving!
That’s some very strong progress. I hope the strange feeling becomes the new norm for you and the remaining debt will be gone in a blink. I’m trying to look at a few savings accounts almost in the same way, such as for my daughters college and to replenish a trip account.
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Thanks! I’m loving this new feeling and can’t wait until we are on the saving side of the equation! That must be a snoopy dance kind of a feeling!
Pretty darn cool getting down to only two debts! Yay.:-)
Try not to let this week get TOO hectic. Have a wonderful Thanksgiving!
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I still pinch myself! Happy Thanksgiving to you, too!
Have a wonderful Thanksgiving. Enjoy your family.
You too, Marybeth!
Wonderful progress Lucy! I look forward to the day I have come as far as you two have. Happy Thanksgiving to you and yours.
Thank you! Don’t lose hope. You’ll get there too! It is hard work, but so worth it!
Amazing, amazing progress. Well done! Happy Thanksgiving!
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Thank you. Happy Thanksgiving to you too!
Lucy, great progress! Congratulations! I think I forgot to mention at the first of the month that we have 24% exactly of our mortgage to pay off, so 76% paid off. We had a 5 paycheck month this month also, but I put the money in savings. I took my Christmas savings out earlier in the week, so it will be a cash Christmas here. I did buy some extra stamps since postage will be going up in Jan. Have a happy Thanksgiving, and I still love to follow your progress and am still pulling for you.
Thanks, Chris! Amazing progress on your house! Congrats! We will also be having a cash Christmas. No way am I EVER going back into debt! Save where you can, even with stamps!
Well done Grasshopper….lolz
When does the 0% expire on the Citi debt?
It would be nice if you had something big to sell and wipe the rest out. 😉
Have a nice Thanksgiving Lucy. I bet you are grateful you started this journey finally and you can almost see the light at the end of the tunnel!! 8-)))
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Well, thank you, Sluggy! The Citi rate expires in June, but I want it gone long before that time comes. Unfortunately, nothing else worth much of anything to sell. Trust me, I’ve searched. Even the dogs are too old to be of any cash value (shh, don’t tell the Hubs I said this!). Hard to believe that we are in our 23rd month of digging our way out of our mess. Hard yes, but also so worth it!
It is all going to be gone before you know it!!!! It is so helpful to have such inspirations to keep those of us who aren’t too close yet moving forward!!!! I’m pleased with how we are doing – IRS GONE, my car $1036 and it is GONE then everything will be thrown at the stupid, stinky credit card debt…..I’m HOPING to have everything paid off by next December at the very latest…..
What are you plans once the credit card debt is gone?
You ARE moving forward, Sue! Getting rid of the IRS is an enormous win and your car will be paid off before you know it. Our first year was anything but stellar but staying in debt just wasn’t an option. No giving up, no matter how hard the journey! As for once the credit card debt is gone, then we will work on building a fully funded emergency fund. After that, it is on to snowballing the mortgage! Can’t wait!