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Water Woes

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My parents and 3-year-old nephew were visiting us during the holiday weekend, and it was nice to work together to make meals at home and spend some time thrift shopping and rehabbing furniture!  A very thrifty weekend indeed.

But Tuesday after the long weekend brought its own unwelcome news.  This morning, Emily alerted me that the water had gone out from all the faucets in the house.  We called the well service and after a diagnostic call, they informed us that the water level in the well had dropped too low and the well wasn’t producing water.  Our well ran dry!  Texas is in its 3rd year of a historically severe drought, and the issue just became drastically real to us.  Thankfully we have a large storage tank and can have water trucked in.

But after the well diagnostic call and the water delivery today, we’re out about $200 already, and we haven’t begun to fix the problem yet.  Hopefully they can lower the pump deeper in the well (several hundred dollars), but if that doesn’t work, drilling a new well will be thousands and thousands of dollars.

To top it off, the tenants’ washer and dryer went out, so that’s going to set us back a few hundred more. Our nascent emergency fund is going to take a huge hit this month and we’re praying we don’t need a new well drilled – that would likely put us deeper in debt.  Oh to be debt free and able to withstand financial shocks!  One day!

So join us if you will for the Texas Rain Dance!

 

September Debt Balances

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It’s time for a debt update! I’ve been waiting for my balances to update after my Stafford loans were transferred to Great Lakes. Unfortunately, they don’t make it as easy to apply my payments directly to one of my four disbursements. Their website only shows 2 loans instead of 4.  Not only that, but by default, they apply my extra payments to my higher balance loans, and I have to call each month to get my payment reapplied.

So as of today, my balances reflect payments against the wrong loan, but hopefully by the next update that will be corrected.

Some people have asked about the minimum and snowball payments.  Minimum payments on our loans are about $1100 total. The snowball payment is just shy of $2400.  Because we weren’t budgeting in July, we didn’t quite make the full snowball payment. Also, the balance difference won’t reflect the interest payments, only the reduction in principal.

Previous Balance:  $112033

September 1 Balance:  $107951

Difference: -$4082

We still have a long way to go, but as of now, we have 47 months to go to be debt free!  Personally, I’m looking forward to breaking that $100k mark in the next few months.

Happy Labor Day!