As I mentioned in my morning post, we were unable to meet our super high lofty debt-figure goal for the month of November (which was $4500). Even so, I do still feel like we had a respectable debt payment. A couple of roadblocks this month that stood in our way were all related to hubs’ work situation. First, he had to take off what turned out to be a full week at the beginning of the month when (1) both kids got sick (one, then the other), (2) hubs’ mom came to visit, and (3) the kids’ preschool closed for 3 days for teacher training. So that’s a full week of missed work. Then hubs missed another partial week of work (Wednesday-Sunday) when we went out of town for Thanksgiving. Given the two weeks of missed work, I think we’ve done as well as can be expected. We really tried to pare down our budget as much as possible (November budget update post coming…probably next Monday) and stuck to just the bare essentials so we could try to put as much toward debt as possible.
I don’t know what the month of December may hold. Although I find it highly unlikely that we’ll meet our big 2015 goals (paying off $30,000 in debt & being consumer debt-free), we will come so, so close. I don’t want to jinx myself, but if we are unable to hit those goals in December (unlikely), I feel fairly confident that we’ll be able to wrap them up in January. Not too shabby to be one month behind, especially since these were reaching goals to begin with (meaning, they seemed like a reach even when I set the goals).
So without further ado, here’s how November’s debt payments shaped up:
|Place||Current Balance||APR||Last Payment Made||Last Payment Date||Original debt, March 2014|
|Capital One CC||-||17.9%||-||Paid off in March 2014||$413|
|Mattress Firm||-||0%||-||Paid off in May 2014||$1381|
|Wells Fargo CC||-||13.65%||-||Paid off in May 2014||$7697|
|BoA CC||-||7.24%||-||Paid off in June 2014||$2220|
|License Fees||-||2.5%||-||Paid off in April 2015||$5808|
|ACS Student Loans||$8616||6.55%||$20||November||$8215|
|PenFed Car Loan||$4955||2.49%||$2000||November||$24040|
|Balance Transfer student loan (Former Navient 1-01)||$3012||0% (through April 2016)||$500||November||$5937|
|Totals||$104,704 (Oct balance = 107,053)||$2751||Starting Debt = $145,472|
One big thing to note is that my Navient debts are now combined. When I logged into my account this month the loans (which used to be separated and listed as “federal loans” and “department of education loans”) are now all combined. I have no idea why this transition took place and I received no prior warning or explanation about it. To be totally honest, I haven’t had a chance yet to break apart all the debts and make sure the figure is correct (because, as we all know, Navient is king at screwing things up). It does seem to be in the right ballpark and I’ve got that on my list for things to do at the beginning of December.
I’m proud of that $2700+ debt payment! This was a tough month and we still managed to make a good dent in our debt. But whats even more exciting to me is seeing our total debt. It’s now sitting right at $104,704. We may not hit the two main goals of 2015 (becoming consumer debt free and putting $30,000 toward debt), but I sure am going to try my absolute hardest to get that figure to dip below $100k before the New Year rolls around. We may be looking for some things to sell, donating plasma, or picking up odd work. I don’t know what it will take, but I’m willing to make the sacrifices to see that figure drop down into the 5-digit range and stay forevermore out of six-digit figure land. Wish me luck!
How are your debt payments coming along?