(Debt # & Outstanding Balance)
Debt #4: $0 = $10,650
This month went by quickly and this update will probably be one of the shortest post EVER! Since I have been putting in more to the monthly payment the due date has been pushed to November 2015. To save the confusion of constantly apologizing or why the balance is not budging, this will be my last post on this debt until November.
I will resume paying monthly in November again.
Showing posts with label $30k Debt-Free. Show all posts
Showing posts with label $30k Debt-Free. Show all posts
30 June 2015
05 June 2015
debt free: May 2015 breakdown
(Debt # & Outstanding Balance)
Debt #4: $500 = $10,650
Well, there's that. This has to be the biggest payment we have ever made for this last debt since it is our last student loan. The reason behind paying 5X the actual minimum monthly payment was to move the due date forward to help us out with the move in August. Instead of the next due date being July after paying $500 in May, I was able to move it down to November. Perfect! That will give us time to try and settle a little bit when we move.
We're trying to play catch up right now because I am starting to feel overwhelm with so many things to do by myself here and UGH I feel dead! I got a little off track with the spending last month because Ulta.com App happened :( - Forgive me! I am trying extra hard, that's all that matters right now.
Debt #4: $500 = $10,650
Well, there's that. This has to be the biggest payment we have ever made for this last debt since it is our last student loan. The reason behind paying 5X the actual minimum monthly payment was to move the due date forward to help us out with the move in August. Instead of the next due date being July after paying $500 in May, I was able to move it down to November. Perfect! That will give us time to try and settle a little bit when we move.
We're trying to play catch up right now because I am starting to feel overwhelm with so many things to do by myself here and UGH I feel dead! I got a little off track with the spending last month because Ulta.com App happened :( - Forgive me! I am trying extra hard, that's all that matters right now.
30 April 2015
Debt free: April 2015 breakdown
(Debt # & Outstanding Balance)
Debt #4: $300 = $11,100.57
Joel and I never knew that this day would come when we are only down to ONE student loan debt. Hallelujah! As of today, we are only taking care of this last school loan and although it is not the last debt we will acquire, it should be the last student loan. In the next few months we will probably acquire a new car loan and some home goods because we are moving in a few months.
Come on though, student loan debts are the death of all our 20s because we are usually working just to pay for a piece of paper -_-. Since I posted a payment that is three times the actual minimum payment the due date has been pushed to July. Hopefully in the next two months, I can continue to pay $300 to push the next due to date December or January 2016 to help us out for the move in August. April is the month were crunch time started and I cannot be more stressed that I already am. I am on the verge of hitting Britney Spears 2007 era, I am losing it ha-ha.
Before moving, we want to have a total balance of $10,000 on this last student loan so cross fingers that it all falls through. Honestly, I have no idea what I am doing as far as balancing and saving money right now because my mind is everywhere. I am starting to wear out…… like driving on a 15-year-old tires.
The goal for this last piece of SOB is to pay it completely off by the 3rd quarter of 2016. So…. that means not much will be put into savings, but once it is gone? Save, save, save!
What are your financial goals for the rest of 2015?
Debt #4: $300 = $11,100.57
Joel and I never knew that this day would come when we are only down to ONE student loan debt. Hallelujah! As of today, we are only taking care of this last school loan and although it is not the last debt we will acquire, it should be the last student loan. In the next few months we will probably acquire a new car loan and some home goods because we are moving in a few months.
Come on though, student loan debts are the death of all our 20s because we are usually working just to pay for a piece of paper -_-. Since I posted a payment that is three times the actual minimum payment the due date has been pushed to July. Hopefully in the next two months, I can continue to pay $300 to push the next due to date December or January 2016 to help us out for the move in August. April is the month were crunch time started and I cannot be more stressed that I already am. I am on the verge of hitting Britney Spears 2007 era, I am losing it ha-ha.
Before moving, we want to have a total balance of $10,000 on this last student loan so cross fingers that it all falls through. Honestly, I have no idea what I am doing as far as balancing and saving money right now because my mind is everywhere. I am starting to wear out…… like driving on a 15-year-old tires.
The goal for this last piece of SOB is to pay it completely off by the 3rd quarter of 2016. So…. that means not much will be put into savings, but once it is gone? Save, save, save!
What are your financial goals for the rest of 2015?
31 March 2015
Debt Free: March 2015 Breakdown
(Debt # & Outstanding Balance)
Debt #3: $2,858.21 = PAID OFF!
Debt #4: $200 = $11,282.17
FINALLY! One of the two major student loans is paid off! Thank you Jesus. We are officially one pay off closer to start our "First Home" savings. The feeling has not sunk it yet since the payment has only been placed today and it will take about 2-3 business days for it to show on the student profile, but a little "Hooray" doesn't hurt, right? So HOORAAAAAYYYY *Happy dance, twerk twerk*
That out of the way, Joel and I can start feeding our savings account in lump sum each month and continue to pay Debt #4 monthly. The monthly minimum for Debt #4 is $111.00 but by paying double each month, we are actually giving ourselves an "allowance." This means that if we cannot pay the next month, it is okay because paying double will push your due date forward by an extra month. Ex: I paid $200 for March, my next due date will be in May.
This method will hopefully work in our favor in the next few months since we are planning to make a move. Yes, I spent my vacation to go apartment hunting and I found a place that would be perfect. I just need to make a trip back up with Joel to finalize everything :)
Now that Debt #3 is done and over with, it's crunch time. Time to focus on building up that credit score, savings account, and de-cluttering the house.
What do you hope to accomplish by going debt-free?
Debt #3: $2,858.21 = PAID OFF!
Debt #4: $200 = $11,282.17
FINALLY! One of the two major student loans is paid off! Thank you Jesus. We are officially one pay off closer to start our "First Home" savings. The feeling has not sunk it yet since the payment has only been placed today and it will take about 2-3 business days for it to show on the student profile, but a little "Hooray" doesn't hurt, right? So HOORAAAAAYYYY *Happy dance, twerk twerk*
That out of the way, Joel and I can start feeding our savings account in lump sum each month and continue to pay Debt #4 monthly. The monthly minimum for Debt #4 is $111.00 but by paying double each month, we are actually giving ourselves an "allowance." This means that if we cannot pay the next month, it is okay because paying double will push your due date forward by an extra month. Ex: I paid $200 for March, my next due date will be in May.
This method will hopefully work in our favor in the next few months since we are planning to make a move. Yes, I spent my vacation to go apartment hunting and I found a place that would be perfect. I just need to make a trip back up with Joel to finalize everything :)
Now that Debt #3 is done and over with, it's crunch time. Time to focus on building up that credit score, savings account, and de-cluttering the house.
What do you hope to accomplish by going debt-free?
28 February 2015
Debt Free: February 2015 Breakdown
(Debt # & Outstanding Balance)
Debt #3: $1,000 = $2,843.51
Debt #4: $200 = $11,482.17
You see that Debt #3? Oh yeah! We are on our way to permanently erasing it. Because my vacation started this month, not much was put towards the savings account, but know that 80% of overall income this month was spent toward the bills. I had to do my share of not spending much on "things" to make sure that the $1,000 was spent toward Debt #3 and still had enough to cover the other necessary things such as dog grooming, groceries, phone bills, etc. Little sacrifices needed to be made but hey, it's all for a good cause.
My boyfriend & I had a good long conversation this month about us wanting to aim for August 2015 to find a new place to move into and in a whole new state. So every bit of money saved up will be of great help and the biggest help of all is getting rid of that one pesky debt. You have not met the boyfriend YET, but I will include a new tab or something somewhere for you to get to know us better….. BETTER TOGETHER! :)
My boyfriend & I had a good long conversation this month about us wanting to aim for August 2015 to find a new place to move into and in a whole new state. So every bit of money saved up will be of great help and the biggest help of all is getting rid of that one pesky debt. You have not met the boyfriend YET, but I will include a new tab or something somewhere for you to get to know us better….. BETTER TOGETHER! :)
They say money cannot buy you happiness, which is very true. But it's a different feeling when you're slowly paying off your debt, that's like putting your life together by going debt-free. The feeling is….. hard to explain.
How are we coming along with our debt-free journey? Are we all on track? If not, take a week off and gather your thoughts together. Evaluate your priorities and determine why you started in the beginning. Set a goal for why you are trying to go debt free.
Aloha,
Elysia
31 January 2015
Debt Free: January 2015 Breakdown
(Debt # & Outstanding Balance)
Debt #3: $2,000 =
$3,799.13
Debt #4: $200 =
$11,401.91
It’s been almost been 12 months since I have not posted the
monthly breakdown to clearing up the debts, I’m sorry. But hey, life happens
okay? Important thing is getting back up & picking up where we left off.
That was a bit mushy, but here is this month’s debt free breakdown journey. We
like to pay in big lump sum when my boyfriend ships out for work because money
income is much better than on off sea months. Vacation will be coming up again
for me next month so I needed to get a grip on the bills before flying off
again like last year. This year, we are very determined to pay off Debt #3 by
the first six months because it’s so close to hitting that $0 balance e-mail.
When Debt #3 is out of the way, the main focus will be on the last Debt #4,
damn I get really a good kick whenever I do bills every month. We are not only
focusing on paying off the debt this year, but also on our credit cards. We
have no kids (except for a dog & a rabbit) but we also have two 7-year-old
debts that demand our financial attention.
2015 is game-time…. Err making big leap financially J
How are you doing with your debt free journey? How do you
manage your wants & needs? Do you worry about paying big lump sum towards
your debts? Anyone in their 20s stuck paying with student loans?
Aloha,
Elysia
03 April 2014
Debt Free: March 2014 Breakdown
(Debt # & Outstanding Balance)
Debt #3: $1,100 = $8,973.66
Debt #4: $250 = $11,661.29
March was not the best month financially because well a lot of things were jumbled around. I'll be straight forward & say, it's because we both were shopping & were not really thinking about the prices. Just grabbing, trying on things, & swiping our cards. Idiots. I hope May will be better since April will be a vacation for myself. So we shall see.
(Debt # & Outstanding Balance)
Debt #3: $1,100 = $8,973.66
Debt #4: $250 = $11,661.29
March was not the best month financially because well a lot of things were jumbled around. I'll be straight forward & say, it's because we both were shopping & were not really thinking about the prices. Just grabbing, trying on things, & swiping our cards. Idiots. I hope May will be better since April will be a vacation for myself. So we shall see.
20 February 2014
Debt Free: February 2014 Breakdown
(Debt # & Outstanding Balance)
Debt #2: $1,500 = PAID OFF!
Debt #3: $1,005 = $9,930.79
Debt #4: $250 = $11,857.73
Another debt has been paid off and the next debt is down by $2k. This month was a good month to see another debt out of the list of four. Two debt down within two months since ringing in the New Year. Although shopping was a little bit over budget again (we'll get to that to a different post.) It was pretty hectic this financially just to make sure we were able to pay off Debt #2 so I was having a hard time trying to balance out the money coming in, going out, and being saved. I am hoping to get rid of Debt #3 as early as August 2014 so we are crossing all fingers & toes.
How is everyone going with their debt free journey?
(Debt # & Outstanding Balance)
Debt #2: $1,500 = PAID OFF!
Debt #3: $1,005 = $9,930.79
Debt #4: $250 = $11,857.73
Another debt has been paid off and the next debt is down by $2k. This month was a good month to see another debt out of the list of four. Two debt down within two months since ringing in the New Year. Although shopping was a little bit over budget again (we'll get to that to a different post.) It was pretty hectic this financially just to make sure we were able to pay off Debt #2 so I was having a hard time trying to balance out the money coming in, going out, and being saved. I am hoping to get rid of Debt #3 as early as August 2014 so we are crossing all fingers & toes.
How is everyone going with their debt free journey?
16 January 2014
Debt Free: January 2014 Breakdown
(Debt # & Outstanding Balance)
Debt #2: $1,000 = $1, 500
Debt #3: $900 = $10, 839.31
Debt #4: $250 = $12, 107.73
I just want to flat out say, I did not do very well with the "shopping budget/allowance" I had set up for January :( But I did under spent on other things. Well, lets move away from the personal spendings shall we, haha. We were able to bring down total debts this month once again. I look forward each month to post the drop in our debt total. This month, we were able to keep aside bits of money from last month's incomes so we were able to pay each bill ahead of time so here you go fellow debt free lovers :D
(Debt # & Outstanding Balance)
Debt #2: $1,000 = $1, 500
Debt #3: $900 = $10, 839.31
Debt #4: $250 = $12, 107.73
I just want to flat out say, I did not do very well with the "shopping budget/allowance" I had set up for January :( But I did under spent on other things. Well, lets move away from the personal spendings shall we, haha. We were able to bring down total debts this month once again. I look forward each month to post the drop in our debt total. This month, we were able to keep aside bits of money from last month's incomes so we were able to pay each bill ahead of time so here you go fellow debt free lovers :D
20 December 2013
Debt Free: December 2013 Breakdown
(Debt # & Outstanding Balance)
Debt #1: $500 = PAID OFF
Debt #2: $500 = $2,500
Debt #3: $1,000 = $11,636.29
Debt #4: $300 = $12,240.52
It felt awesome getting the Christmas gifts out of the way & we were able to find the fund within our new budget to add extra money into the payments. Since I have already made payments to all three bills this month. It is safe to say I am able to post this :), plus I was very excited about it. Bringing it down slowly is the key here. We'll see how next month's payments will go & I am really hoping for another good news. Happy Aloha Friday everyone.
**** Totally forgot to add the other debt that we paid. Debt #1 was paid off, so now we have three left.****
(Debt # & Outstanding Balance)
Debt #1: $500 = PAID OFF
Debt #2: $500 = $2,500
Debt #3: $1,000 = $11,636.29
Debt #4: $300 = $12,240.52
It felt awesome getting the Christmas gifts out of the way & we were able to find the fund within our new budget to add extra money into the payments. Since I have already made payments to all three bills this month. It is safe to say I am able to post this :), plus I was very excited about it. Bringing it down slowly is the key here. We'll see how next month's payments will go & I am really hoping for another good news. Happy Aloha Friday everyone.
**** Totally forgot to add the other debt that we paid. Debt #1 was paid off, so now we have three left.****
16 December 2013
Honestly, how many 20 something year old couples focus on their debt before partying? Starting the New Year right & what better way to spend the last few days of 2013 than to plan ahead. I am not married, no children, and finally finished my 2-year college & paid off that $30K tuition in two years. New career path happened in our 6 years relationship & making adult plans together. We want to get married, we want a house, we want a stable savings account, but we want to be completely debt free before moving any further. Our relationship is very solid & I would like to help reach our goals together by attacking his "big boy" school loans. We are rounding up his total debt to $30k. Our ultimate goal is to be debt free in two years or less.
Debt #1: $500
Debt #2: $3,000
Debt #2: $3,000
Debt #3: $12,436.29
Debt #4: $12,240.52
_____________
Total: $30, 000 (estimate)
Each month I will show how much was put towards each debt. We will estimate a monthly spending to $3,000. (This is just roughly how much we would spend each month & it could be more or less.) I will also post a link very soon where you can download the budget planner template.
Here you will see the struggle and see me with trial & error. No one is perfect & I will continue to make adjustments to suit & meet our need.
What are you looking forward to accomplishing in 2014?
Subscribe to:
Posts (Atom)