Our last debt repayment report was September 2, so here is the (lack of) progress we have made since then:
The current balance and the change in balance since the last report are:
Personal credit card: $11,345.10 +1,537.09
My student loan: $4,720.12 -162.41
Husband’s student loan #1: $5,227.61 -7.91
Husband’s student loan #2: $8,418.33 -64.73
Husband’s student loan #3: $17,106.32 -74.77
Total: $46,817.48 +$1,227.27
A few notes:
It is painful to write this report. In 12 months of gazelle intensity, we have never increased our balances, only decreased. However, this month we were hit by several expenses, and our emergency fund just wasn’t big enough. Here is some of what knocked our budget out of balance:
- My computer died and we paid $550 for a new one from Costco
- I had a private consultation to talk with a freelance writing expert for ways to increase my freelance writing income, in addition to getting a few other services. This was $400.
- We had medical bills which topped $1,500. Quite a few of them are related to my current medical issues, but I was also shocked to see that my daughter’s emergency room visit to get stitches was barely covered. The original bill was $707; the insurance got a $200+ discount, and then all the insurance paid was $40. We were left with a $434 bill.
- My husband is slated to get a substantial raise, hopefully as soon as November.
- We have also pulled my daughter out of Japanese school, and I have found a low-cost preschool that I can bring both girls to for about 2 hours three days a week. I work on site. This should increase my work time dramatically.
- We are still interviewing babysitters and mother’s helpers, which should also allow both my husband and me more time to work in the evenings.
- We still have a lot of junk to sell on Craigslist, which should bring us in a few hundred dollars. Now that I will have a little more time, I should be able to list those items and get rid of them.
- But best of all, my husband has finally taken an interest in the finances and has agreed to sit down with me every month to make budget/money decisions. Yeah!
I am going to start further breaking down our debt. Our first priority is paying off the credit cards. On October 20, 2011, our overall credit card balance was $20,316.63. The credit card balances now are $11,345.10, so we have paid off 44.2% of our credit card debt, or $8,971.53.Tweet