As I mentioned last month, my husband is feeling a bit nervous about his work situation.  Though he normally lets me handle the budget and debt repayment entirely, over the last few months he’s specifically asked, several times, that we slow down on our debt repayment and work on bulking up our savings.  I know this is important to him, so for now, debt repayment is taking a back seat to growing our emergency fund.

Since his student loans are in deferment because he’s also taking classes, I plan from March until May to mostly just pay interest so we can bulk up our savings.

By May, we should have a much better idea what our plan will be going forward.

Husband’s student loan #1:  $12,310.81                -100.29

Husband’s student loan #2: $16,396.11                  -0.05

Total:  $28,706.92                                                   -100.34

A few notes:

The Negative:

Honestly, it’s killing me to pay such a small amount on the student loan debt.  Now that we have so much of our other debt paid off, I just want to attack this debt, especially the smaller student loan.

The Positive:

Our emergency fund is slowly growing, which is making my husband feel better.

Emergency Fund

Our objective is two-fold.  First, we want to have a full month’s cushion in the bank that will allow us to pay this month’s bills from last month’s money.  Right now that one month cushion is at 85% of the amount we need.

Second, we want a separate emergency fund beyond the one month cushion.  Right now, that separate emergency fund is at $440.

When we became Gazelle Intense on October 20, 2011, our balance was $57,966.01.  Since then, we have paid down 50.4% of our debt, or $29,259.09.

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