Tuesday, May 12, 2015

3rd Reset Anniversary - the numbers

No fanfare...just the numbers.

Retirement Loan

Repayment:  $221 per paycheck (26 per year)
Current balance:  $11,551.70
I used to be so much more excited about this loan when we were paying $380/pay check.  Even at $442 a month (or $663 in March due to 3-check month), it is still a good chunk of change.  Just bums me out that per the original loan agreement, we would have about a year left....not anymore.  Bummer.  We are just a few months away from being under 10k on this...so yay for that!  And TECHNICALLY....the number above is as of the reset.....today was payday, so there is another $221 paid, making it $11,330-ish (Gotta add in our friend interest!)

Student Loan

Repayment:  $229 per month
Current amount:  $21,819.21

Yay!  It rolled down to the next thousand. But since we are no where close to doing anything about this other than the current payment....it is pretty boring.  We are just under a year away from it being under $20k, and this is the last debt on the list that will be paid.

Credit Card 

Repayment:  Varies
Current amount:  $10,679.60
This is going to be a separate post later this week or next (my time on the computer is soooo limited right now!)  I am not happy here.  We had it at 10k at the first of the year.  Then my car broke down in January (and into February!).  So the $679 is what is left from that fun filled affair.  But I do want to address this card in general.

Mysti's Car

Repayment:  $230 per month
Current amount:  $4,245.00
Chugging along!  I round the payment so that I have a $X.00 number.  It makes me happy.  I think I paid an additional $50 last year just by rounding.  Not much, but it all helps.  We have about 18 more months left on this loan. This loan gets paid on the 15th...so it will be just a fudge bit over $4,000 by the end of the week.

G-man's Car
Repayment: $127 per month
Current amount:  $2,865.00

We have officially crossed the 50% mark on this!   I took about $200 from the buffer that we keep (that slush was just too slushy) and paid extra (above the rounding that I always do anyway).  Yay.

Total:  $51,160.51

We are about a month away from being below $50k....which will be the next milestone.  I had hoped to be under 50k for this update, but I just couldn't swing it.  For about 5 min, I thought about pulling money from EF to do it, but decided we needed to have the cash given all of our moving stuff and too much being up in the air.

I am looking forward to being in the 40's though.  Mentally it is a huge thing, even though the reality is that we still have a ways to go.  I am predicting about 14k will be paid off in next year just by the nature of the beast, and by the end of 2016, my car will be paid off, and G-man's car will be a few months later.  I would love to have both paid off by the end of 2016, but we will see how it goes.

There ya go. 


  1. Keep on chugging! You will get there! Doing great my friend!

  2. It is slowly getting there. Keep going.

  3. You're so close to $50,000. You are heading in the right direction. Plus, after you move, you will really be able to make strides with the lower cost of living.

  4. Not bad at all! Student loan is the biggest thing, and that's true for a lot of people. Many people owe on cars, also. And your credit card debt is not outrageous.

    Also, the retirement loan "debt" is just money you owe yourself, so you're just counting an asset you once had, that you're trying to replace. It doesn't technically go on a debt line, although I know we've already been over this. :o) I know you count it because you have to make payments to it. Just pointing out that you have less debt than you think!

  5. You are doing such a great job, Mysti!! Go Mysti! Go Mysti! Goooooooo Mysti!!!!!

  6. You're doing great!!

    My total debt is $58,815.06 :( That's 3 student loans (can't consolidate any further), 1 auto loan, 1 CC, 1 Care Credit, & 1 personal loan. I'm hoping to shave $5,784.32 off that balance by the end of October.

  7. Keep chugging along but some miracle will come soon, some relative will croak and leave you 50k or you will win the lottery etc... Wait and see :)