by Hope
I’m sure you were all wondering with my last update about the emotional credit card payment, what happened to paying off the personal loans first?
I paid Personal Loan #1 off last month. And I planned to pay off the second Personal Loan this month…and I have, mostly.
So here’s what had happened? (Yes, that grammatical weirdness was intentional, don’t come for me.)
As soon as I got paid this month, I started making payments, transferring money where it was to go, etc. And suddenly, I hit my daily limit. Thanks, Zelle!
Ok, I’ll wait til tomorrow to continue.
And the next day I hit my weekly limit. Again, thanks Zelle.
So I’ve transferred all I can with Zelle (no fees for anyone) to where it needs to go…and now have to wait 7 days for my limit to be reset.
I texted my brother with a note on what was up. The balance remaining now is $250. Let him know that as soon as Zelle let’s me, I’ll send the rest of the money. He was fine with that.
And that is the long story about why it took an extra week to pay off my 2nd personal loan.
But now…no more personal loans. (Not counting my dad, but I know that is a personal loan too just never called it that.)
And now we are 100% focused on getting rid of ALL Credit Card debt! Let’s go!
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’m sorry you should have paid your brother and father before those other bills. They have been more than generous helping you out, you must have known there was a limit on what you can pay at a time? I pay my bills with online banking through my bank, you can’t do that?
My brother is being paid at the same time as those other bills. It was just a limit with the mechanism that delayed the receipt. I didn’t realize there was a 7 day limit.
As for my dad, he is the one who encouraged me to pay my interest bearing debt first. Otherwise, his loan would have been next after my Personal Loan #2. He’s chosen to wait.
Canadians can use etransfers – we send the money via our bank accounts/emails/cell numbers and once my mom hit her limit! It is definitely annoying. I am glad you are paying everything down!
It’s pretty common since the limit is $1,000 daily and maybe $2,000 over 7 days. I don’t typically use money transfers at this level so the weekly limit was a surprise to me.
Congrats on the win!
Every time you pay off a debt, please post an update – it’s so encouraging and needs to be celebrated!!!
Definitely!