I meant to get this posted yesterday, but after a long day taking care of the preemie and then going to my small group Bible study, there just wasn’t any time. May wasn’t as strong of a month for us, but at least we still met our goal of paying off at least $1,500 for the month. We were also able to get The Beast (aka Discover) below 10K.
1-1-2017 $55,749.69
1-1-2018 $46,408.39
Debt May 1 May 17 June 1
Discover $11,200 $10,800 $9,975
car $6,740.98 $6,466.27 $6,466.27
Citi $6,895 $6,895 $6,790
Visa $9,599.24 $9,450.16 $9,450.16
Total $34,435.22 $33,611.43 $32,681.43
To spare you the math:
Our total debt reduction for May was $1,753.79.
Our total debt reduction for 2018 is $13,726.96
Our total debt reduction since 2017 is $23,068.26. We have reduced our debt by over 41%. Looking ahead for June, my goal will be to see our debt decrease by at least $1,500. Knowing I will be out of town, I don’t feel I can aim for much more than that amount, although I will certainly try!
How was May for you? Did you meet your debt payoff goal? Or if you’re on the other of the equation, did you meet your savings goal?
Wow, oh wow, I can’t believe you paid off 13.7k already this year. That’s fantastic. Yes, we made our debt reduction goal. We are currently tackling our remaining car loan and threw another 1400 at it today. (Yay!)
PRISCILLA recently posted…My Whackadoodle Blog Philosophy (and why the heck do I need a privacy policy?)
$1400 is HUGE! Congrats and good job!
GREAT JOB!!!! We are plodding along, had a little setback this month but are back on track and I think FINALLY on the same page!!!!
Thank you! Setbacks will happen, but as long as you continue moving in the right direction, you will ultimately succeed. GREAT news to finally be on the same page! I think it will make a huge difference for you!
We put $1530 towards the college fund. We hit a lot of our other May goals as well. Here is my full list: https://mcoia.blogspot.com/2018/06/may-goals-updated.html
You did well, Marybeth! Great work!
Wow, nice work! Those are some big debt payoff numbers!
May way fine from a financial standpoint. We weren’t too far off our budget, we put money into our retirement funds and HSA, and we paid off $700 in debt. Of course, I’m impatient and want to throw MORE at our last remaining credit card! We’ll see more progress this month when we receive a job-related bonus.
The 76K Project recently posted…A Look Back At May: Beer, Budgeting, and Debt Reduction
Erm… That should say “was,” not “way.” LOL.
The 76K Project recently posted…A Look Back At May: Beer, Budgeting, and Debt Reduction
Thank you! You made good progress too. Planning for the future and still paying off debt. I call that a win!
Way to go Lucy, all your hard work is really paying off!
Thank you! Seeing the numbers go down is so motivating!
Way to go Lucy!! I met my goal for BS1. I wanted to go into June with only needing $200. My debt snowball starts this month. The 401K loan and the truck loan will be gone.
Rhitter recently posted…On Receiving Surprise Gift
Thanks, Rhitter! I just read your update! Wow! I am so happy for you. Your snowball is getting bigger! Woohoo!
Great job this month and this year!
I paid off 2 of the smaller cards. One of them was mostly a travel reimbursement. Nice to not paying high interest on both of those. Next I working on ridding of the health bill. Then that will leave me with the 4 main debts. I’m ready to tackle!
Jane has debt recently posted…May Debt Recap [-76,840]
Awesome, Jane! Being in debt just plain sucks. Looking forward to the day we all can post that we achieved our goal of getting out!