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Debt Balances and Moving Forward

May 27th, 2015 at 06:33 am

I was just updating my budget spreadsheet and noticed some key points:

- Less than 30k on Navient student loans
- Almost half of the ACS loan paid (7k of 16k)
- Car paid off
- Less than 2k on WF loan

That's the positives...the negatives - still working on 3 CCs. I can't seem to get rid of them. I'll make progress and then undo it - a 500 payment with a 350 car repair, a 300 payment with a 200 pet visit. It feels like I'm swimming nowhere. I need to put the card back away, but a part of me wants the cash back rewards. I have $288 left to pay to cover last month's balance at which time I'll have about $700 on the Freedom card and $675 on the Slate. I think if I really buckle down, I can pay them both by the end of the summer (August), so that is what I'll do. I'm going to hold off the additional car repairs until after the Freedom card, but start them in parallel with the Slate card. After that, I'll have to assess. Part of me wants to aim for WF since it would only take 3-4 months, but that interest rate is only 5.25 compared to some of the other stuff.

At some point, I also need to start saving for a wedding. It's not official by any means, but we've certainly discussed it and I know it's coming within the next year or two, so I want to be at least somewhat prepared. Part of me wants to start setting aside something now, but I feel like part of the problem is stretching myself too thin which is why I don't really make headway on any one thing...

2 Responses to “Debt Balances and Moving Forward”

  1. snafu Says:

    You've so much on your plate it will take a lot of planning to add more. If you anticipate another car repair it helps to boost your EF. While cash back rewards are enticing, if you've interest added to CCs are you losing more than than gaining? It helps keep focus when you highlight the interest charge and keep a running total month-by-month of what CCs cost you.

    Dn't beat yourself up, you've looked after your mom, SO , rented an apartment and added 2 dogs and 2 cats to your financial categories.

  2. Debt-free by Thir-ty Says:

    Thanks Snafu. I guess when I made this whole 'be-out-of-debt-by-thirty' plan, I didn't anticipate my life going in this direction (even though it's an amazing one!). I figured I'd be living on my own with DD1 only and throwing everything possible at my debts. Luckily, none of my cards are accruing interest, but the Freedom one will start this month or next. I believe I can pay the full balance next month.

    I actually do have a car fund. It's just not very big because I only put $10 to it a month. Right now, it's at $60 but I didn't tap it for the car repair.

    I'm just feeling a bit overwhelmed because SO and I have discussed plans and timelines and I want to be as prepared as possible for marriage, kids, etc. (Still years out, but definitely less than 5.)

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