I have been trying to update my side bar every two weeks. Since that is the cycle that I pay the bills, it makes sense. Way back when I started this blog, I used to update them daily! I got frustrated with that, and over time, the bi-weekly system started.
This update is actually 3 weeks in the making. I had a bunch of stuff that was going to be paid, so I wanted to showcase it all.
Let's take a quick tour:
Retirement Loan - We pay $380.xx every two weeks, which is automatically taken from G-man's paycheck. This loan is the epitome of "set it and forget it." If we never looked at it again, it would just do its thing. One more payment, and we are out of the $30,000's. This loan originated April 2012, and unless we speed up the process (which we will), it will be paid off in April/May 2017. We are shooting for December 2016 though.
Student Loan - We pay $229/month. This loan is mostly my graduate school loans, which included one semester of living expenses when I student taught. I would love to speed this one up, but for now it is what it is. Doing nothing at all, it will be paid off in 2024....ugh. That is not acceptable. I PROMISE...this loan won't be around that long.
Car - We are under $10,000! Isn't it purty??? This is a 5 year loan, and it too is autodebit from the credit union account. At the current rate, it will be paid off December 2016. (anyone guessing the master plan yet????)
CC - This one just makes me sad. For the most part, this one is going to hover. Yes, we pay interest, and I am debating on doing a balance transfer.
Dentist - This one just will bounce a bit. G-man had a cleaning, and we paid that when we got the FSA money. This is just the remainder of my root canal and crown from last summer.
Bossy's Supplies - WEEEEEEE!!!! We applied for a hardship waiver (the company took ours away when they outsourced billing, and things have changed again). While we don't qualify for a full waiver, they are discounting everything 60%....including the balance...which is why this one went down almost $1700!!!! We are using way less supplies as Bossy is on the path to getting his "tubey" out, so this will all help. We will continue to pay $50 a month, but now that the monthly bill will be closer to $90....we are only going in the hole $40 a month, instead of $200.
Other medical - This is the balance left from my surgery last summer. Almost done, and then over $100 a month will be able to go elsewhere. In the interest of honesty....we have about $300 in bills that we just got from the kids' dentist and eye doctor. But those will be paid for out of our tax refund, so I am not counting them right now.
In total, the decrease in debt since the last update is $2,914.87!! That is 3.8% in 3 weeks! I did some quick calculations, and we should be down $10,000 total in May, which is when we did the big reset after we got the retirement loan. Granted, if we didn't run up the CC, or have the dental emergency...we would be much better off. But we are at least making progress for the first time in a few years!
And further down the side bar....
G-man's OT - Still shooting for 100 hrs for the year. Last year we got to 101, although a billing error paid the last 14 hrs in January 2013. But it should have been on the last paycheck of Dec 2012. This one is up to overtime availability. No control over this one.
EF - We withdrew $600 last year ($300 to fix the washer, $300 as part of the disaster trip to Mom and Dad's). We are about $200 away from paying all that back, and continuing on to the larger goal of $2000.
*happy dancing* My prediction is that by the end of the calendar year, we will be back to our all time low debt total since I started the blog. It is about freakin' time!!!