Debt Update…

We still made slow progress this month. My husband only received one regular check in January and anything extra we had we put into our emergency fund. Both our jobs have become slightly more stable but neither of us feel comfortable without a sturdy safety net.

Overall, the job loss was good for us. We were able to adjust and refocus but more importantly, we were able to prove to ourselves that we could survive our fear. Sometimes knowing what you are capable of is the best lesson.

Here are this month’s numbers…

Original Debt: $38,495.86
Paid: $19,149.13
Remaining: $19,346.73

Broken Down
Auto Loan 1: $0
Credit Card: $0
Student Loan: $9,501.52
Auto Loan 2: $9,845.21

Yup, we’re about $100 from HALFWAY!! Woo Hoo!!

We will hopefully receive our tax refund check in March so we should have a nice jump next month.

Posted by Beks on February 9, 2010 at 5:00 AM in Debt Updates | 8 Comments »
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emmi responded:
Posted: February 9th, 2010 at 1:49 pm
Wow, nice job on (essentially) reaching the halfway mark. Don’t let the tax windfall relax your vigilance though. That’d be my weakness, I know.
Divine and Debt Free responded:
Posted: February 10th, 2010 at 6:45 am
Congrats!! when do you expect to be debt free? im hovering over the same numbers!! Im looking to be debt free by november God willing!
lomarie responded:
Posted: February 10th, 2010 at 11:25 am
Treat the tax refund as something you never received, add some to emergency fund, some to debt. Thanks for the info on medical care from universities. UM of Ann Arbor, Mi. gives free surgical and other care. Checked it out after reading your blog. Starting to have trouble with my hip and scared to death because I won’t have Medicare for one and a half years from now. We just finished paying off $31,000 after 7 years from my husband losing his insurance and then having a heart attack. Thanks again for the info and keep treading away that debt.
Abigail responded:
Posted: February 10th, 2010 at 7:27 pm
Congrats! Barring more unpleasant surprises (and there are always those waiting in the wings) we’re looking at being under $6,000 at the end of this month. That’s from $10,184 at the end of November. Keep your fingers crossed for us.
dspkid responded:
Posted: February 10th, 2010 at 10:22 pm
Congratulations on your success thus far. Some months it can be slow. I am looking forward to seeing your number DROP in March. Thank you for the inspiration.
Michelle H. responded:
Posted: February 12th, 2010 at 6:30 am
Good for you Beks! Keep up the good work. You’re an inspiration for us all. I like what you said about surviving the fear, I think that’s a biggie!
Blessings!
Mar responded:
Posted: February 13th, 2010 at 8:44 pm
Beks, have you filed your tax return already? If so, did you do it electronically and ask for direct deposit of your refund? I did and got my federal refund yesterday, 2/12, after filing on 2/2. You might get that refund sooner than you think, if you’re getting an electronic refund. The state of Maryland refund came on 2/9, just 7 days after we filed.
John Browne responded:
Posted: February 20th, 2010 at 9:48 am
Congratulations on your progress! We all worry about our debt but very few do little about it. Kudos to you!