by Hope
Ok, I’ve posted my new debt numbers, I’ve posted my new monthly budget, and I’ve figured that even with my lower income I’m going to be able to pay about $1400 extra towards debt. So here’s my current plan….
January – pay off remaining utility bills from old house, pay of checking account balance and put the rest towards the Retail #2.
I then have a little bit of extra money that should come in towards the end of this month from client invoices.
February – between the extra income I’m expecting and regular monies, my goal is to pay off the Retail #2 by the end of February. It will be a stretch, but that’s what I’m gunning for!
Then I will focus on the personal loan and credit card simultaneously, I think, but I’ve not yet mapped that far out. One step at a time…
But my goal, at least in my head is 6 months to pay off everything but my student loan debt. I realize that’s pushing it with my numbers, but I’m super motivated so I’m working on how I can make more money!!
Hope is a resourceful, solutions-driven online business manager with over two decades of experience helping clients streamline operations, manage projects, and grow their businesses through digital marketing and technology.
But life has a way of rewriting your plans.
A year ago, Hope made the decision to move in with her aging parents full time – a season she wouldn’t trade, even as it came with its own financial and emotional weight. Earlier this year, she lost her mother, and is now walking the tender, disorienting path of grief while learning what “forward” looks like from here.
Hope came to the Blogging Away Debt community in 2015 as a single mom raising five foster and adoptive children. She’s written through job changes, financial setbacks, and the bittersweet transition to an empty nest. Her kids are finding their footing in the world now – and so is she.
Rooted in faith and fueled by the same perseverance she’s brought to every hard season, Hope is ready to face her finances with fresh eyes and an honest pen. She believes that clarity, courage, and community can change the trajectory of anyone’s story including her own.
She lives in Austin, TX with her dad, loves adventures with her dog Addie, and is figuring out, one step at a time, what this next chapter is meant to be.
I like your enthusiasm!
That is awesome!! I just read all your updates and figured you’d knock out the rest of the debt this year (but for the student loans). 6 months? Wow! I know you can do it!!
That’s amazing Hope. If you could really knock out everything but the student loans in 6-7 months, then by July you’d have an extra $240 to snowball toward debt and $1657/month (assuming you still don’t get child support back or increase your income). If you just put that toward your student loans you could have around 24k left by the end of 2015 (wow!!!!!) and actually maybe be debt free by the end if 2016!!! That is pretty exciting especially after your debt free date was 2019 before you sold your car. Very proud of you and excited to see your progress!!!
On mymoneyblog.com, I saw an article about an offer from the Chase Slate credit card that may help save you money on interest. There is no transfer fee if you transfer a balance in the first 60 days, and there is 0% interest for 15 months. If you can qualify that would give you a little more breathing room to meet and/or exceed your payoff goal in 2015. I have no affiliation with the above blog or Chase Bank. Best wishes for a stellar year!