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Ashley’s October 2016 Debt Update

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I hope you’re all having a good week! Our kids are out of school Wed – Fri this week so my mom flew out to help with childcare (since hubs and I both have to work still), so it’s been a lot of fun to visit together and it’s always great when Mom visits! For instance, my freezer is now full of homemade freezer meals that we can quickly and easily heat up on our busy weeknights!

I’m not even going to lie – this semester has been kicking my butt a little. I’m sure you can tell based off the more sporadic posting schedule as of late. Mid-semester there was a faculty member who, due to persona reasons, had to stop teaching a class. In week 8 of 16. Guess who got to pick up the class? This girl! I’m happy to help out and it will work out in the end (my department head is giving me a course release in exchange) but I’m definitely feeling the burden of the extra work at an already extremely busy time!

BUT –

we’re already on the downhill slope toward the end of the semester. Just a few weeks to go and I’ll be home-free! And it’s going to be such a fun winter break! We’ve made reservations for our family to travel up to the Flagstaff area and do the North Pole Experience. I’ve wanted to do it the past couple years and have kept ourselves form doing it due to budgetary constraints. This year I knew I wanted to make it a priority so I’ve been putting little bits of money aside each month to help offset some of the costs (much like I did when I saved a couple hundred bucks each month for an entire year in order to pay for cruise 2016 entirely with cash). This experience obviously wasn’t as expensive as the cruise, so I’ve just been setting aside $50 for the past couple months. I was able to pay for our tickets out of my pocket of cash and we still have a little leftover (that I’ll continue to add to this month and next) to cover the cost of a hotel and food or souvenirs on the trip. CAN NOT WAIT!!!

But that’s neither here nor there. Feast your eyes on the main reason for this post:  my October debt update!!!

PlaceCurrent BalanceAPRLast Payment MadeLast Payment Date Original debt, March 2014
Navient$70,4266.55%$1975October$82433
Balance Transfer Student Loan #2$46000% (through April 2017)$750October$7650
Medical Bills$56860%$25October$9000
Balance Transfer student loan #1$00% -Paid off in March 2016$5937
PenFed Car Loan$02.49%-Paid off in January 2016$24040
License Fees$02.5%-Paid off in April 2015$5808
BoA CC$07.24%-Paid off in June 2014$2220
Mattress Firm$00%-Paid off in May 2014$1381
Wells Fargo CC$013.65%-Paid off in May 2014$7697
Capital One CC$017.9%-Paid off in March 2014$413
Totals$80,712 (Sept balance = 83,173)$2750Starting Debt = $145,472

I’m not going to lie, I’m pretty bummed that we ended up SO.CLOSE to the 70’000s for our total debt owed. Just another $700 and we would’ve tipped over! But we’ll definitely be there by the end of this month.

The other important thing to note is that ACS is now off the debt spreadsheet table. ACS sold my last remaining loan with them (I used to have 2) to Navient. That means Navient now services 100% of my student loans. Blah! Speaking of, I still haven’t resolved my most recent Navient issue. They DID straighten out the auto-drafting issue and have updated to the correct payment (they had been grossly over-charging me). BUT, they still haven’t re-allocated the extra payments toward the loans I would have selected. So another phone call is warranted, but has not yet happened. It’s on my “TO DO” list for Friday (fingers crossed that resolves it).

Otherwise, things are moving right along. Still on schedule to close on our house very soon. I’m still holding my breath and crossing my fingers that it all goes through (after already being delayed twice). This weekend is also my husband’s and my 6th wedding anniversary! It’s going to be a bit of an anticlimactic one. My Mom leaves town on Friday so we had a VERY low-key date night on Wednesday night. We wore jeans and went to happy hour sushi. Nothing fancy or special, but it’s always nice just to have time out alone together (since typically we’ve got the girls anytime we go anywhere). Last year I mentioned how – when we first got married – I had hoped we would be able to spend our 5-year anniversary in Hawaii. Instead we made a major debt payment and just went out to dinner. Nothing crazy. I don’t regret our choice in prioritizing debt payoff in the least. I think it’s the best thing for our family. And it’s easier to maintain determination and stamina now that we’re adding in a bit more balance to our lives (e.g., like planning this Christmas trip to Flagstaff and going on more regular date nights, etc.). It’s all about trade-offs between debt payment and “life” happenings and I’m happy with our balance right now. At the same time, I look forward to the day when we can travel more freely without worrying about cost or the trade-off between paying off debt and making memories together. I’ve never been to Hawaii before and have always wanted to go. A second-honeymoon seems like the perfect reason. It’s not in the cards this year (though we’re still doing fun, albeit cheaper, family activities). But a second honeymoon WILL happen someday. It’s just one more of our “rewards” we’ll be able to indulge in after cleaning up this debt mess!  Every month – just a little bit closer to our debt-free goal!

How is your debt repayment going? Have you paid off any debts recently?

Ashley

Texan at heart; Arizonan on paper. Lover of running, cheese, camping, and family (fur-family included!). Blogger, motivated to get out of debt YESTERDAY! Follow along with my journey!

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5 Comments

  • Reply Walnut |

    I think a second honeymoon in Hawaii sounds like a great 8th anniversary celebration, because I very much believe you’ll be done paying off your loans and have time to save up for a Hawaii trip by then. Seriously. Your numbers are going to melt off in the back half of your journey.

  • Reply Brooke |

    We finished up all my student loans, a car loan and the mortgage on our mobile home and we were down to ONE CAR LOAN (~173K paid off out of 180K). Then, we replaced our roof with cash on a Friday. The following Tuesday, the transmission on my paid off car broke down . We are now back up to two car loans.

    We decided to focus on building up a proper emergency fund (in addition to living on last month’s income) since our car loans are at a very low interest rate. But we are also cash-flowing some big life changes, similar to your husband quitting his job and going back to school, so slow and steady debt payment on the remaining debt is our strategy for right now.

  • Reply Sarah |

    Just crazy to think that in less than 3 years, you will have paid off more than half of your debt! You rock!

  • Reply Amber from Red Two Green |

    Ahhh having moms come in town to visit is the BEST.

    Congrats on all the debt progress! We are just getting started at paying off our fat load of student loans but we hit a milestone this month– half of my student loans are now paid off! Too bad mine are just tip of the ice berg. Wah wah. We’ll get there!

  • Reply Mindy |

    Go, Ashley! Go, Ashley! Making good choices and kicking debt’s butt. Thanks again for sharing your journey with us!

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