I hope everyone is having a relaxing, laid back Labor Day holiday! We’re still in Texas (we drive back to Tucson tomorrow), so I’m just peeking in with a real quick Debt Update from the month of August.
Here it is:
|Place||Current Balance||APR||Last Payment Made||Last Payment Date||Original debt, March 2014|
|ACS Student Loans||$8596||6.55%||$20||August||$8215|
|Balance Transfer Student Loan #2||$5850||0% (through April 2017)||$500||August||$7650|
|Balance Transfer student loan #1||$0||0%||-||Paid off in March 2016||$5937|
|PenFed Car Loan||$0||2.49%||-||Paid off in January 2016||$24040|
|License Fees||$0||2.5%||-||Paid off in April 2015||$5808|
|BoA CC||$0||7.24%||-||Paid off in June 2014||$2220|
|Mattress Firm||$0||0%||-||Paid off in May 2014||$1381|
|Wells Fargo CC||$0||13.65%||-||Paid off in May 2014||$7697|
|Capital One CC||$0||17.9%||-||Paid off in March 2014||$413|
|Totals||$85,553 (July balance = 86,518)||$1374||Starting Debt = $145,472|
This was a relatively small debt payment (particularly in comparison to last month’s monstrous debt payment), but I’d expected that given that August is a little bit lower-income month for us (I do not get paid from my part-time job at all in August). Even so, we made some good progress over and above minimum debt payment obligations. We just keep chip-chip-chipping away at our debt totals.
As another exciting piece of information – we think we found “the one” (house). We saw it just before leaving town for the Labor Day weekend and called our realtor to put in an offer while we were on the road (we signed via docusign using my phone’s hotspot to get internet on our computer). Fingers crossed!!!
After house stuff is behind us we plan to make some really concrete mini-goals for the student loan debt. I’ve been hesitant to make any mini-goals (aside from our general 2016 goals) because it feels like so much has been up in the air with the house hunt and trying to just stockpile as much cash as possible for a down payment and emergency fund, etc.
I’ll keep everyone updates as house progress continues. : )
Have a great long weekend!