Monday, May 12, 2014

The Reset Anniversary - 2014

I hope that all the Mothers and Mother-Figures had a lovely Mother's Day.  We had a beautiful 80 degree day, and I was able to plant my flowers.  Success!

We hit our annual "reset date" last week.  The quick recap of the reset was when we were able to move forward with our Retirement Loan to consolidate some credit card debt (more on the credit card debt tomorrow) to a lower rate.  This also was the end of the MAJOR (because we all know there are MINOR ones) backslide after the miserable year that was 2011.

In full disclaimer, I am using my 5/1 numbers (not 5/7) just for simplicity.  Additionally, the credit card number is "close," not exact.  We had a bunch of transactions (yes, we use the card....again, hold on until tomorrow where there is a whole post just on the credit card) that were pending (both purchases and returns), a return that hadn't posted yet, and the end of the billing it is "close."

Retirement Loan - we are OFFICIALLY past the 50% mark!!!  Technically, today is payday, so that number is actually just a little bit lower as of today.  May 2016 is the pay off, and it is on the bottom of the snowball pile, so there is very little chance that it will be paid off any sooner.

Student Loans - While I know that going into the 23k area isn't is just nice to see the thousand place value roll down.  This is going to be the LAST loan paid off, so again, just making payments....waiting it out.

Credit Card - up by about $300.  Yes.  Tomorrow.....we will talk about it tomorrow.  I have alot to say on the credit card, so it is its own post.

Mysti's car - Rolling back another thousand!!!  We are heading toward the 50% paid off mark (August/September).

G-man's car - We paid an extra $1,200 to the car!  We actually have another $1,000 that had planned to be put to the car, but some recent changes around here (which I haven't discussed yet) led us to hold the money for the moment.  Once the dust settles, we will make another big payment.  Technically the $1,200 put us at $ I transferred $2.14 from our EF so I could make it a nice round number.

Medical/Dental - I had a cavity.  It got filled.  Insurance paid almost nothing.  Pending FSA reimbursement.  G-man goes to the dentist the bill will go higher again until FSA hits.  While we still have FSA funds, this is fine, but once FSA is gone for the year, we will have to see what will happen if there is another unplanned dental expense.

Total.....$63,042.05.  Since last year's reset...we have paid off $8,232.45.  Yay us!!!  But more importantly (to me)....this is the lowest total we have had since August 2011!!  This means that all the mess of 2011 (and early 2012) has been paid off and we back where we were. 

I am in no means HAPPY that we still have $63k in debt but the plan we have in place is chugging along.  We have had to purchase 2 vehicles since August 2011 (in Nov 2011 and Oct 2013).  We have had car repairs, home repairs, a hit to the EF (which by the way....take a look at that number....we hit our $2,000 goal!!!).  All of those things brought the debt level back up but we have manages to get back to where we were.

So tomorrow we are going to talk about the credit card.  And we are also going to talk about some upcoming milestones in the near future. some point we will talk about income and some possible changes.

Stay tuned!


  1. Job changed - CANNOT wait to hear! I think it is excellent you recovered from 2011. I will take any step - no matter how small as a HUGE accomplishment. Rome wasn't built in a day!

    1. Thanks! The income stuff....not good stuff.

  2. Mysti, I think you are doing awesome! I love watching this numbers go down. Keep up the good work!

    1. Slow and steady, right? Thanks for the support, as always!

  3. Really Mysti, a student loan is a debt ,but they can't take back your mind or the knowledge you put in it. I think you are doing really well. I just don't see car's (that are reasonable or school loans as bad debt.. Although all debt can be a mood sucker.

  4. WTG, Mysti! Doin a little happy dance for ya!

  5. Progress is always awesome!!!! Good for you!!!!