We pulled together a little more than $1,000 to add to our cash savings this month. After taking out the cash for the crib, stroller, bassinet, and other baby items, we had a gain of $800 in our savings.
Sadly, this may be our last big step month since our roommates are moving out and we will no longer have rent income.
My Debt
Original Debt: $38,495.86
Added Debt: $1,781.50
Total Debt: $40,277.36
Paid: $31,928.65
Remaining: $8,261.18
Cash Savings: $3,500.00
Broken Down
Auto Loan 1: $0.00
Credit Card: $0.00
Student Loan: $8,261.18
Auto Loan 2: $0.00
Vet Loan: $0.00
*As a reminder, cash savings is in preparation for costs of time missed from work and from any hospital fees. All remaining funds will be applied to debt.
**Cash savings is in addition to our emergency fund. The amount actually in savings is $4,500.
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About This Site
My Debt
- Original Debt: $38,495.86
- Added Debt: $1,781.50
- Total Debt: $40,277.36
- Paid: $36,084.36
- Remaining: $4,193.00
- Broken Down
- Auto Loan 1: $0.00
- Credit Card: $0.00
- Student Loan: $4,193.00
- Auto Loan 2: $0.00
- Vet Loan: $0.00
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Posted: May 7th, 2011 at 7:02 pm
I really enjoy reading your posts. Thanks for sharing your budget breakdown. We’re on the road to debt freedom; but sometimes it just seems so hard to save. Things constantly come up. Your site is very encouraging. Thanks again!
Posted: May 9th, 2011 at 6:50 pm
You are such an inspiration to me. I am on the same road and have whittled debt down to below 5 figures in less than 16 months. There’s quite a bit of sacrifice as I’m sure you know, but it’s so worth it!
Posted: May 10th, 2011 at 9:02 pm
I just wanted to say congratulations. I am glad to see others getting out of debt as well. I personally had a ton of credit card debt. I was living on minimum wage and didn’t have a dime to pay extra nor did I have a good credit history to get a loan. I managed to pinch some pennies just by changing a few habits. Total I was able to save was around $170 a month. I focused on bills I had to pay every month and how I could positively impact them. Just keep up the great work. =)
Posted: May 12th, 2011 at 9:17 am
Way to go!!!!