Debt Update…

Well, there isn’t much to update. We paid the minimum payment on October’s bills – nothing more.

My husband and I are both short of vacation hours thanks to pneumonia, pulled tendons, rattlesnake bites, and well… life.

While we don’t think we’ll need it, we are setting aside this month’s extra debt payments until we return. When the dust settles from our trip, we’ll sort everything out in November.

No, we won’t be using this as an excuse to spend, spend, spend, but we need to be cautious and prevent ourselves from haphazardly applying for credit cards to close the gap when we return.

Ugh. This debt update is depressing!!

Original Debt: $38,495.86
Added Debt: $1,781.50
Total Debt: $40,277.36
Paid: $30,415.26
Remaining: $9,862.10

Broken Down
Auto Loan 1: $0
Credit Card: $0
Student Loan: $8,862.10
Auto Loan 2: $0
Vet Loan: $1,000.00

Posted by Beks on October 4, 2010 at 5:00 AM in Debt Updates | 19 Comments »
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Bobbi responded:
Posted: October 4th, 2010 at 7:11 am
Don’t be depressed. Look at all you have done and enjoy your trip.
Pam responded:
Posted: October 4th, 2010 at 7:20 am
Progress is progress! Don’t beat yourself up!
Tammie responded:
Posted: October 4th, 2010 at 11:11 am
I think you have done a fabulous job, I agree with Pam and bobbi both on this. Take the time to enjoy Italy, and the hit it hard again in November. All of us that are dedicated readers know you will get back on the debt reduction train and that $9000+ will be gone in a flash!
Vicki responded:
Posted: October 4th, 2010 at 11:24 am
Beks – don’t beat yourself up! You’re below $10K – I am dreaming of the day when I am under $10K! You’ve done great!
Karen responded:
Posted: October 4th, 2010 at 11:49 am
I agree—you’re amazing and you shouldn’t beat your self up over the curve balls life tends to throw at us when we least expect it.

Have fun in Italy.
Claire in CA, USA responded:
Posted: October 4th, 2010 at 12:27 pm
Seriously, the progress you’ve made is FANTASTIC! Murphy tends to move in just when we least expect it, so just chalk it up to life experience, and ENJOY ITALY! My daughter’s bff is there for three months on a student exchange program, and is just loving it.

And? I’ll bet you’ll come back refreshed and ready to kick that remaining debt in the proverbial behind.
Mrs. M responded:
Posted: October 4th, 2010 at 12:56 pm
I’m with Vicki – I dream about the day that we’re under $10K. You’ll get there!
Carol responded:
Posted: October 4th, 2010 at 4:36 pm
Over half your new debt was to save the life of your beloved dog. Would you have it any other way?
Serena responded:
Posted: October 4th, 2010 at 5:23 pm
Don’t be discouraged – everyone hits bumps along the way, and even though we’d like everything to *poof!* be all better right away, it takes time. Good luck and enjoy a bit of time off!

I’d like to know where you are as far as the “No More Eating Out” plan. Are you going to keep that up, or just keep it in moderation? just curious!
Greg in Ohio responded:
Posted: October 4th, 2010 at 5:25 pm
Yeah, don’t sweat the vet loan. I bet even Dave Ramsey wouldn’t have a problem with that. Claire put it best. Have fun in Italy!! Ciao!
Holly responded:
Posted: October 4th, 2010 at 7:36 pm
I’m at the beginning of my debt journey (40K plus), and the idea of one day accomplishing what you have is so exciting to me. Let this one go and have a fabulous trip. You have earned it!
Lizzie responded:
Posted: October 4th, 2010 at 8:01 pm
Just the fact that you’ve whittled your debt down just under $10K is an accomplishment you should both be proud of.
First Step responded:
Posted: October 5th, 2010 at 7:00 am
You’ve been making such quick progress that it’s easy to be discouraged by only a small decrease this month. Look back at your totals since you’ve started. Four months ago, at the beginning of June, you owed about $14.8K. Now you owe $9.8K–that’s $5K in four months. Be proud of what you’ve accomplished, take a break to regroup and enjoy your trip to Italy. You’ll be refreshed and ready to kick the rest of the debt to the curb when you get back.
David responded:
Posted: October 5th, 2010 at 7:23 am
Enjoy Italy and keep going!!! I think once you can get to 5K it will like it is downhill again
NY Girl responded:
Posted: October 5th, 2010 at 7:33 am
Go and enjoy your fabulous trip to Italy! You haven’t “fallen off the track”….life happens and you do the best you can. When you get home, you get back to finishing what you started. In the meantime, try not to dwell on it…..Progress, NOT Perfection…. enjoy your trip!!!!!
Claire responded:
Posted: October 5th, 2010 at 8:37 am
Buck up! Max Weber said “Change is incremental”, and boy is he ever right! Progress is progress, no matter how small.
Lizzie responded:
Posted: October 5th, 2010 at 8:45 am
You are an inspiration and I am amazed at your dedication to paying off your debt. Have a BLAST on your trip!!!
emmi responded:
Posted: October 5th, 2010 at 9:41 am
Gosh, if you need to cheer yourself up, go back to the start of this journey and add up your monthly debt carrying costs. How much were you totally throwing away every month in interest? Compare that to now. That will feel like a significant victory, for certain.

Now that you are losing much less ground to interest, you will move forward again.

Cheer up and get psyched for your trip! You are going to have so much fun!
Jimmy Liew responded:
Posted: October 8th, 2010 at 1:27 am
Don’t be depressed. You already did what you could the best, but sometimes just do not prepare for any unplanned stuff. Just take it easy, it is just an uncertainty.

Sunshine always come after the rain.