This month went pretty good. we had a few expenses come up for garden/yard starting. back on track for next month.
Total paid this month toward our debt snowball $460.
This could mean we will be really close to paying off our first student loan next month (we owe $500 ish after this month)
One big expense we have been planning on since last fall is buying a deep freezer. We also will be paying for that as soon as It hits the sale I want.
Other than that we have been doing pretty good. Arlen is still doing plasma, He is planning on working with his dad this summer possibly starting next month.
I would like to make it a goal next month to pay off the first student loan! I think we can do it since our gas bill will be almost nothing, and our power bill will be lower due to the warmer weather. We also should be able to use all the plasma money towards the loan.
We will let you know how that goes! Next month I will redo our debt list with current amounts.
Tashina
Sunday, April 24, 2016
Friday, April 1, 2016
Mission Out of Debt: Monthly Update Part 2
I have redone our Debt list. Last month we paid off $4,165.78 of our debt (not counting our house)
Here is our updated debt list. I will redo it again in 2-3 months.
Amount Owed
Children's Clinic: 0.00 Paid off with Taxes 3/5/2016
Credit Card: 0.00 Paid off with Taxes 3/5/2016
SL 1-06: $989.23 Paid Extra with Taxes
SL 1-01: $2105.37
SL 1-05: $2306.96
2nd Mortage: $3536.01
SL 1-02 $4162.86
SL 1-07 $5014.90
SL 1-04 $4972.16
SL 1-03 $5058.71
Car $6875.13
Total Debt 35,021.33
Total paid off last month 4,165.78
Of course the next few month will not be as large of a difference our taxes made a major difference in what we were able to pay. Our goal is to pay an average of $500 a month towards debt!
Tashina
Saturday, March 26, 2016
Mission out of Debt Monthly update Part 1
This month was great. We received both our federal and state tax returns. These were 100% put towards our debt snowball and 1,000 savings.
As of now we have 1,000 in our emergency savings, we have 1,000 in our checking (this is because we are paid every other week meaning some automatic payments are processed before we receive our check.)
We paid a total of 3710 extra towards our debt snowball and 500 to finish off our savings totaling 4210- put towards our debt reduction plan.
I will be posting an update of our debt total after all the payments are processed!
As of now we have 1,000 in our emergency savings, we have 1,000 in our checking (this is because we are paid every other week meaning some automatic payments are processed before we receive our check.)
We paid a total of 3710 extra towards our debt snowball and 500 to finish off our savings totaling 4210- put towards our debt reduction plan.
I will be posting an update of our debt total after all the payments are processed!
Monday, February 29, 2016
Mission Out of Debt: Tax Return
We did our taxes today, I always claim 0, so we know we should get a return. We will be getting $4,120 back in the next 2-4 weeks. Here is our plan for this money.
2900- Credit Card
473- Children's clinic Bill
500- savings
247- Student loan 1-06
I will process everything once we actually have the money deposited in our accounts and upload statements at the end of March with our totals.
Tashina
2900- Credit Card
473- Children's clinic Bill
500- savings
247- Student loan 1-06
I will process everything once we actually have the money deposited in our accounts and upload statements at the end of March with our totals.
Tashina
Friday, February 19, 2016
Mission out of Debt: Goals
I have made a couple of decisions, one it to recalculate our debt
totals every other month. I will post our monthly budget results after
the end of every month showing what extra we have paid.
Here is a quick summary of our goals.
Arlen is doing plasma: Goal is to pay 200+ a month from that.
We dropped our satellite, and stopped current contributions to Arlen's 401k which combined with extra from our checks should equal 300+ every month.
We get paid every other week. Which means we have extra checks in August: We are going to put 1600 toward our debt in August after that happens.
This combined with tax returns means an extra 7,000 extra paid off by end of August. This is our goal.
I know we are shooting high, but we want this to work as soon as possible. We may be able to find some extra income in the meantime too!
Here is a quick summary of our goals.
Arlen is doing plasma: Goal is to pay 200+ a month from that.
We dropped our satellite, and stopped current contributions to Arlen's 401k which combined with extra from our checks should equal 300+ every month.
We get paid every other week. Which means we have extra checks in August: We are going to put 1600 toward our debt in August after that happens.
This combined with tax returns means an extra 7,000 extra paid off by end of August. This is our goal.
I know we are shooting high, but we want this to work as soon as possible. We may be able to find some extra income in the meantime too!
Sunday, February 14, 2016
Mission out of debt! Getting started
We have recently realized the importance of getting our debt paid off. Since we bought our house in 2014, we have had some major changes. The hardest changes for us have been financial. Here is what has happened
#1 Health insurance almost tripled for us. (obviously the affordable care act didn't help us)
#2 I changed Jobs *yay* however with the increase we no longer qualified for our income based repayment for Arlen's student loans. This meant and additional $200 a month.
#3 Tioni was in a swing accident (5 days in the hospital, lacerated liver, lots of follow up, fun fun) (between 4-5k in medical bills even with pretty good insurance.
Because of all these things we realized that as long as we have our debt we will never be financially comfortable to have a large family and do the things we want to do.
I have a great friend who had been doing Dave Ramsey's plan. I even have had one of his books I have read. I have planned to do this in the past. However we have never made the full commitment to make the changes we need. With all these things happening Arlen is full on board, the hardest part was convincing him to end our satellite subscription. Which since earlier negotiations was only at $39 a month but we have to be all in!!
BABY STEPS right? Right now our step is to set aside $1000 to emergency savings. We are almost there! With the taxes we should get back we should be able to finish this and pay off our Credit card.
My goal is to do a monthly blog summarizing our month, and the extra payments we are able to make!
Here is our debt! We will be doing the snowball method! here is how it looks!
Total Debt (without house) 38,714.12
If there is any questions or things you want to know let me know!
Tashina
***I realized after posting I didn't include one medical bill. We owe 512 to the Children's clinic for Tioni's hospital visit. It will be added on next months totals!
#1 Health insurance almost tripled for us. (obviously the affordable care act didn't help us)
#2 I changed Jobs *yay* however with the increase we no longer qualified for our income based repayment for Arlen's student loans. This meant and additional $200 a month.
#3 Tioni was in a swing accident (5 days in the hospital, lacerated liver, lots of follow up, fun fun) (between 4-5k in medical bills even with pretty good insurance.
Because of all these things we realized that as long as we have our debt we will never be financially comfortable to have a large family and do the things we want to do.
I have a great friend who had been doing Dave Ramsey's plan. I even have had one of his books I have read. I have planned to do this in the past. However we have never made the full commitment to make the changes we need. With all these things happening Arlen is full on board, the hardest part was convincing him to end our satellite subscription. Which since earlier negotiations was only at $39 a month but we have to be all in!!
BABY STEPS right? Right now our step is to set aside $1000 to emergency savings. We are almost there! With the taxes we should get back we should be able to finish this and pay off our Credit card.
My goal is to do a monthly blog summarizing our month, and the extra payments we are able to make!
Here is our debt! We will be doing the snowball method! here is how it looks!
| Amount Owed | Min Payment | |||
| Credit Card | $ 2,600.00 | $ 25.00 | ||
| student loans 1-06 | $ 1,194.97 | $ 13.19 | ||
| Student loan 1-01 | $ 2,134.95 | $ 26.08 | ||
| student loan 1-05 | $ 2,347.69 | $ 25.93 | ||
| 2nd mortgage | $ 3,619.86 | $ 45.00 | ||
| Student loans 1-02 | $ 4,224.47 | $ 50.28 | ||
| Student loans 1-07 | $ 5,073.12 | $ 60.53 | ||
| Student loans 1-04 | $ 5,053.15 | $ 57.27 | ||
| Student Loans 1-03 | $ 5,135.54 | $ 60.32 | ||
| Car | $ 7,330.37 | $ 246.00 | ||
If there is any questions or things you want to know let me know!
Tashina
***I realized after posting I didn't include one medical bill. We owe 512 to the Children's clinic for Tioni's hospital visit. It will be added on next months totals!
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