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Archive for June, 2013

End of Month Slow Down

June 24th, 2013 at 07:18 pm

The end of this month has been a bit of a let down in terms of the last leg of our debt payoff plan. We did make a $592 payment at the beginning of the month towards our last old credit card. But between the plumbing issues and car issues we had mid-month, there isn't anything left to do more. We just barely succeeded in not having to tap the emergency fund for the repairs, and now we're wiped. But even that is a success compared to our old way of life.

Still though, I think we will be able to send in another big chunk towards the fridge on the 5th of July. And our new estimated final payoff day is Aug 2. And then hubby can finally get that laptop he's been pining over for so long. Wink

Another bit of good news; we canceled 3 old credit cards this month and are about to close another as well. We applied for one new one with our warehouse discount store so that we can get the cash back on our purchases there. And we are keeping one other one to make sure we have enough available credit to keep our credit score rating up should something befall us before our souped up emergency fund is fully formed. But the plan from this point out is to pay them off at the end of each billing cycle and never carry a balance.

Now to just keep on trucking...

We Did It!!!

June 11th, 2013 at 07:54 pm

Just a quick note to say: We Paid Off Our LAST Credit Card last week!! We reached our goal a full 7 months early! I am so happy to be done!!

Of course, now that the old debt is done, it is time to acknowledge the new debt for the fridge we purchased on store credit. It has no interest for 6 months and we plan to be done in half that time. I have updated my debt stats accordingly. This debt milestone would feel a lot more exciting though if we didn't now have this to take care of that debt too. But at least it's debt for only one physical object that we use literally every day, rather than for a whole bunch of things transferred from card to card for so long that we had no idea what it was we were even paying for anymore. It is also nice to look at my wedding ring now and know that it is completely paid for. Smile

We may or may not make much headway on the fridge debt this month. Depends how my home business goes this month; this tends to be a slow time of year. Our car was in need of a $675 repair this week and we have a plumbing issue too now that is probably going to be at least $300. But guess what? For the first time, we don't have to tap into our emergency fund to pay for that. The mechanic told us the amount and we just sighed and said, well, at least we know we've got it. That is a very nice feeling.

Really looking forward to the end of the summer when we will have taken care of the back log of expenses we put off forever while doing our debt payoff. Because that's when the real fun begins. The accumulation phase that will (finally!) prepare us for our future.