Yikes! After playing the “what if” game probably more times than I should, I decided to go for it and let our checking account get a smidge lower than my usual comfort level. I went ahead and made one final payment for the month. I need to remind myself that all funds are accounted for, and aside from that, we do also have overdraft protection.
February was an awesome month. Thanks to a completely unexpected check, we were able to pay off far more than our monthly goal of $1,500. We more than doubled that amount and paid off $3,369.43. This brings our debt payoff in 2018 to a whopping $5,063.96! Woohoo!
While we still have a long ways to go ($41,344.43), with every dollar we pay off, I am feeling more motivated than ever!
At this point, I’m thinking about writing a more detailed post on how much remains on our various debts. I had initially set up my progress reports in this manner, but after doing several balance transfers (for lowering interest), these numbers got lost in the shuffle. I read a lot of personal finance blogs and tend to find the ones that give more details to be the most inspiring. I also like to be as transparent as possible in hopes to be an encouragement to others also battling debt.
How is your month going so far? With only a few short days remaining, I encourage you to give it all you got! Digging out of debt is far from fun, but will be so worth it!
$3369 is a nice number to celebrate, congrats! We paid off about $1000 extra this month (so far!). What I’m finding encouraging lately is the amount of interest we’re paying every month keeps dropping because the principle is dropping. Woohoo!
Thank you! An extra $1000 is fantastic! Good for you! You are right about seeing the amount of interest drop. Exciting and extremely motivating.
My month is pretty good. I am at the end of the month and determining how much extra I can pay on the debt next month.
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I always enjoy reading your updates! Keep slamming down that debt!
Lucy, you guys are doing great! Wow! Happy for you, you are killing it, as Dave says. After our March payment, we will be down to 34% left to pay on our mortgage and paid off 66%. so only 1/3 left to pay, that is pretty awesome when I just typed that in and figured it out. 🙂
Thank you! I hope we can keep up the pace! Wow, only a 1/3 left to pay on your mortgage! That is awesome! I’m excited for you!