We started our journey to pay down debt with three credit cards, my student loan and my husband’s student loans.  Now, 27 months after we started, we’ve paid off everything except my husband’s student loans.

These debt repayment progress reports will change a bit in 2014.  We’re not going to go gazelle intense to pay off my husband’s student loans, at least not yet.  He can apply for a grant in November that, if he gets, will pay off half of his student loan balance.  Until then, we plan on just paying the minimum on the student loans and instead funneling any extra money we have to growing our emergency fund.


Husband’s student loan #1:  $12,642.34                  -171.47

Husband’s student loan #2: $16,413.44                 -61.82

Total:  $29,055.78                                                              -233.29

A few notes:

The Negative:

No negatives this month as far as debt repayment.

The Positive:

We’re just about to go below $29,000 owed!

Emergency Fund

Our emergency fund is now at $2,000.

I worked a lot this month and made extra money that I thought I’d be able to put in savings.  Instead, my husband had to apply to renew his green card, and that cost $450.00.  He also needed to buy a textbook for $60 and to pay for membership to a professional group, which was another $90.  Hopefully we’ll get reimbursed for the two latter charges.

Here’s to hoping February won’t have any unexpected expenses!

When we became Gazelle Intense on October 20, 2011, our balance was $57,966.01.  Since then, we have paid down 49.8% of our debt, or $28,910.23.

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