Yikes. I’m a tad late with this update! I was on an organization binge, and hey, you got to run with it when the spirit moves you!
As for our progress thus far this month, while not stellar, we did pay down more debt~and that is always a good thing! We have such an irregular income that our checks are often feast or famine. Our mortgage is by far our largest payment, so I need to be careful to hold enough back to make sure we don’t run short. So, how did we do?
1-1-2017 $55,749.69
1-1-2018 $46,408.39
May 1-2018 May 17-2018 Interest Rate
Discover $11,200 $10,800 0% (exp 11/18)
car $6,740.98 $6,466.27 1.99% (fixed)
Citi $6,895 $6,895 0% (exp 6/19)
Visa $9,599.24 $9,450.16 5.99% (fixed)
Total $34,435.22 $33,611.43
To spare you the math:
Our total debt reduction for May is $823.79.
Our total debt reduction for 2018 is $12,796.96.
Our total debt reduction since we started is $22,138.26. We have reduced our debt by almost 40%!
Looking ahead to the rest of May. I already have a payment of $105 scheduled for Citi. As for the rest, it will depend on how much we bring home on our paychecks. As much as I would like to see The Beast (aka Discover) get below $10,000, that will be iffy. If we can reach our initial goal of paying off $1,500/month (for our combined debt), I’ll be happy. Some months are just like that.
How has your month been going thus far? Let’s keep encouraging each other. This journey is anything but easy, but it will be so worth when we reach the finish line!
$22,138 is a significant number, go you! Our month is going well. My dear husband somehow anticipated a sale for the lawn mower he wanted. He waited, and sure ‘nuf, it went on sale. He saved us $100 bucks.:-)
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Thank you! Your husband is a smart man! Way to go on saving $100.
You are doing awesome!
For all the chatter I did on being a permanent happy renter? what BS….we bought a house!
The stars aligned and we decided that Denver isn’t getting any cheaper and interest rates are only going up, so why not be happy and poor? Now the fun of scrounging together tens of thousands of dollars in 6 weeks for the closing.
Nothing is being spent other than bills except food and pups necessities.
Wowza! That is some major news! How exciting!
Hey as long as you did not go backward. It is great and motivating when you have good earning months and kind of a let down when you just manage to pay the bills. But All I can say to myself is I did not go backward. Plus we have 14 days left in the month. I can do a lot in 14 days.
So true. I knew we would start to slow down a bit so the let down is a bit disheartening. You are right that a lot can happen in 14 days. I’m going to keep on fighting!
Almost $13,000 and it is only MAY – that is true amazing!!!! GREAT JOB!!! We are plugging along – in addition to our regular $300 payment to the EVIL IRS….I managed to squeak out an additional $400 this month so hopefully that will be gone sooner than we thought. Although dh now needs a $750 crown, so any extra money will be funneled there for awhile….sigh.
Thank you! Definitely get the IRS off your back, the sooner the better. My hubby is also getting a crown. What’s with these men and these expensive crowns? Lol. Thankfully our insurance will cover 50% and the rest will be paid from our FSA. Stuff like this can do a number on the budget. Ugh.
No kidding – that $750 is our portion AFTER insurance has paid. We don’t have an FSA account….double sigh.
Ouch! Ours is $500 and I thought that was a lot! Your hubbies crown must be extra special! Lol
I love reading your updates. You are making amazing progress!! And you have 2 more weeks left in the month. Way to go!
Thank you. I’m not giving up!
Just look at you go!!! 🙂 Way to go!!!
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Thank you!
Our month has been fairly on track, budget-wise. We did end up with a surprise bill for dental work… and then there was the Amazon Prime renewal that I’d forgotten about… but for the most part I think we can absorb those expenses.
Making progress! Go us!
The 76K Project recently posted…We’re Still In Debt, But I Don’t Worry About Money All The Time Anymore
Those surprise bills are never fun…or welcome! Glad you were able to absorb them.