Hey Everyone. Good news-I still have power and internet. With this current storm, it’s hard to say how long this will last. Figured I’d better write a financial update while I still have the chance!
April has been a fantastic month for our war on our debt. Hubs has been putting in a crazy amount of work which has really helped our efforts. Of course, I also try to do whatever I can to further the cause.
As for the numbers:
1-1-2017 $55,749.69
1-1-2018 $46,408.39
April 1-2018 April 15-2018 Interest Rate
cc #1 $2,100 Paid in full! Woohoo! Was 0 %
cc #2 $7,000 $7,000 0% (expires 6/19)
car $7,031.40 $6,740.98 1.99% (fixed)
cc #3 $9,747.57 $9,599.24 5.99% (fixed)
cc #4 $11,950 $11,950 0% (expires 11/18)
Total $37,828.97 $35,290.22
The difference so far this month? $2,538.75! Not too shabby! Looking at our starting number from 2017, this also puts us at over $20,000 in debt paid off! Wow. That is a HUGE amount of debt eliminated!
Looking at the rest of the month, cc #2 will get the minimum of $105, and cc#4 (Discover, aka “the beast”) will get at least $250. As I’ve mentioned before, we are shifting gears for a bit to focus on “the beast” before the zero percent interest rate expires. Gloves are on, and I am ready!
With the way the wind is picking up, I’d better hit publish while I still can. Before I do, how has your month been going? Are you meeting your goals? Paying off debt is anything but fun, but it will be so worth it to have financial peace!
Hope you still have power since you’ve posted!
To answer your question, you challenged us to select a debt payoff amount for April. I chose 1000 dollars. Dear Husband and I have to come up with 27 more dollars by April 30th. I think we’ll make it. Gotta love those DIY repairs, bean based dinners, and coupons!
Thankfully we still have power. Wow! Only $27 more to go? You can do it! So excited for you!
We haven’t been able to put much toward debt this month since we had a large IRS bill that had to be paid (but I’m not bitter…..) but we are going to put everything we can toward LAST YEAR’S IRS debt and get them out of our lives once and for all…once we figure out how to make “extra” payments!!!! Thanks to Rhitter I have a plan and a GREAT visual and will be able to track everything as we GET RID OF THIS DEBT!!
Ooh. I think IRS debt is one of the worst. I’m pretty sure Dave Ramsey says to make them a priority. Having a plan is itself freeing! You know what to do and how you will do it!
Yep, irritates me EVERY. SINGLE. DAY. THANKS FOR NOTHING OBAMACARE……..
Rhitter told me to attack that first and that is what I’m going to do – we are just having a hard time figuring out how to make “extra” payments than what is automatically deducted and, believe or not, it is a hard time to get ahold of someone at the IRS 🙂
I completely agree with you regarding Obamacare. It was a complete disaster and hurt more people than it helped. Good luck with figuring out the IRS. I don’t envy you, but know you can do it!
Chiming in – you’ve got this Sue. You’re very welcome. I hope it helps.
Rhitter recently posted…On Bi-Weekly Progress Report – 04/15/2018
congrats on paying off CC1! I need to pay for our holiday so our debt reduction will slow down a bit this month.
Thank you! Even with your debt reduction slowing down a bit this month, you are still telling your money how to behave. That is a good thing!
We put $1007.60 into the college account yesterday. That was everything leftover from our last check and a small State Tax refund. Hoping to put more in on the 28th but the car is in the shop. We will see what happens. You are doing great. Attack that beast!
Good for you! That is a nice increase in the college fund! Pray your car repair doesn’t set you back too much. Always something, or as my Hubs likes to remind me….life!
Lucy – what a great job! So proud of you!!! 🙂 You’ve got this!
Rhitter recently posted…On Bi-Weekly Progress Report – 04/15/2018
Thank you! It WILL happen. We all just need to keep pushing forward.
$20,000 is so HUGE! In less than 2 years! Amazing.
Thank you! Crazy to think about! This plan really does work!
What fantastic progress, Lucy!
Thank you, Patti!