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Home > Debt Update - 6/10/16

Debt Update - 6/10/16

June 13th, 2016 at 05:47 pm

Good Morning! Was too busy to post our update on Friday so getting it done this morning. We are going to be out of town for the next foreseeable several weekends, either at the lake cabin or softball tournaments, every Monday I am wondering where the weekend went and when are we supposed to relax?!?!

Great update for this 2 weeks, down $1630.09 in two weeks! We have gotten our savings back up to $4K after draining it to payoff Mom Loan #1, and then draining it again to pay for the new vehicle. We also decided to cancel a lot of our more expensive summer plans, as we are already so busy and to keep savings going up. We have gone to summer concerts here for the last 2 years, they run a few hundred dollars a piece and we were planning on going to at least a few of them, but decided to not buy the tickets. We also cancelled a cruise we had booked for Sept. I had called to make our final payment on the cruise and the travel agent then told me our total was $1150 more then we had been quoted for the last 8 months!! Long story short I was very upset as the price had already been stretching our budget so to add $1150 (plus excursions, drinks, souvenirs, etc.) would be a killer to our goals right now, I complained since I had been severely misquoted and I was able to get our $546 deposit back. Thank goodness! So overall cancelling that trip will save us about $5K-$6K. I am disappointed as we were really looking forward to it, but I do think it was the best choice for us and we can go another time, probably next year.

Celebrations for this update:
-Total debt went down $1630.09 in the last 2 weeks!
-We are being responsible and putting our financial health ahead of our WANTS!
-It is our 1 year Anniversary since we added/started racing MO's debt and in 1 year we paid off $51,171.75!!!!!

Student Loan $0
Payback Savings $0
David's Bridal $0
Scheel's Card $0
Total Rewards $0
LOC - US Bank $0
Ring Iddeal $0
Best Buy $0
Store Loan $11,673.06
Mom Loan #2 $27,446.67
MO Mortgage $87,196.11
My Mortgage $156,290.00
Our Mortgage $253,573.68
Total = $536,179.52

Down $1630.09 in the last 2 weeks!!

Starting total was $587,351.27
$51,171.75 paid off since 6/19/15 (including downpayment on house).

We have $190.00 in a savings account to pay off the Mom Loan, so the amount we still owe that is $27,256.67.

3 Responses to “Debt Update - 6/10/16”

  1. Jenn Says:

    Congratulations. With the determination and the attitude you have to give up some 'wants' now, you're going to continue to make great progress. Very inspiring!

  2. greenleaf Says:

    That's great! It's motivating to see how all the little amounts add up!

  3. rob62521 Says:

    Keep up that great attitude. You are doing swell!

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