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Home > Debt Update - Loan from my Ma!

Debt Update - Loan from my Ma!

July 3rd, 2015 at 06:33 am

Well I have an awesome mother. She offerered to loan me and DF $15,000 to payoff some of the high interest debt. WOW. She must love me or something!? I was completely surprised at her offer, and we are so grateful!! The loan is at 4% and we will be paying her $300 per month and planning to pay her off early.

$9000 of it has cleared, so we used it to payoff the Total Rewards Card and the LOC - US Bank. Also DF got rent from his renter so paid back the $400 to savings, and we took $630 out of savings, plus $300 from DFs paycheck to payoff the Scheel's Card. So already some HUGE progress! Once the other $6000 from my Mom clears the bank we will put that against the ring debt. Depending on how things go with the new house, maybe we can even pay the ring off before the New Year?? Then we will focus on paying back my Mom as the next priority, as at that time it would be our highest interest other then DF's mortgage at 4.5%.

I am not sure I like using a picture of my Excel Sheet, but I guess it's better then trying to format with the blog page.

8 Responses to “Debt Update - Loan from my Ma!”

  1. VS_ozgirl Says:
    1435907286

    What a lovely thing for your mother to do! Congratulations on getting the high interest stuff paid off

  2. scottish girl Says:
    1435911651

    Wow that was nice of her!

  3. creditcardfree Says:
    1435929809

    That's very nice and super helpful for your debt progress! I'd pay 4% any day over some of those higher rates you had there.

  4. MonkeyMama Says:
    1435930274

    BG - Do a print screen (Hit the "Print Scrn" button on your keyboard) and paste into a software like Microsoft paint. You can crop it and go from there. Someone here initially taught me how to do that with MS Paint. Right now I have Photoshop, but you can also get free photo editors. Try it if you already have a photo editor software. Then it's very easy to share financial numbers.

  5. MonkeyMama Says:
    1435930374

    P.S. Apparently I still have Paint on my computer though we haven't bought anything Microsoft in forever. We use Open Office for spreadsheets. I Was just looking what the generic version was or what came with the computer. So maybe start to see if you have Paint?

  6. MonkeyMama Says:
    1435930407

    P.S.S. Does Paint come with windows? Maybe that's why I have it. I thought it was Microsoft.

  7. Ima saver Says:
    1435936964

    That is great!

  8. FrugalTexan75 Says:
    1435937404

    MM - Yes, Paint comes with Windows. Smile

    BG - That was very nice of your mom to do for you guys!

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