Today we paid off our car!!!! Super exciting!!!
Friday, March 17, 2017
Friday, March 10, 2017
Mission Out of Debt: 1 year Update!
We started this process a little over a year ago. Although things have not gone according to plan (they never do) We have done I feel really well. I have not done blog updates for most of last year. I didn't feel we were getting anywhere with a few additional monthly bills that came up. As you look back at it I can see how much progress we still made even if it felt like we were not being successful.
Starting Debt February 2016
Portneuf $ 2400.00 $ 200.00
Total Starting Debt (besides house) $41,114.12
Current debt March 2017
Starting Debt February 2016
| 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 |
Total Starting Debt (besides house) $41,114.12
Current debt March 2017
| ||||||||||||||||||||||||||||||||||||||||||||||||||
| Currently Owe 26,797.13. (We will pay off the car 100% with our taxes) | ||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL PAID OFF: 14,316.99 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Our goal is to buckle down and keep working on it this year. We chose to pay off the car with taxes because that will give us the larges extra monthly sum to work with. Our hospital bill will be paid off by July which will also help us accelerate what we are able to pay toward student loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Wish us luck. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Sunday, April 24, 2016
Mission Out of Debt: Monthly Update
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
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
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!
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