A few months ago, my husband, who usually doesn’t ask for much as far as the budget goes, specifically asked me to slow way down on debt repayment so we could bulk up our emergency fund.  There is a lot of change going on at his workplace, and we may be moving as a result of that.  So, as Dave Ramsey suggests, we’re taking a break from debt repayment to build up our savings and prepare for a possible move.

While we thought we would know by know if a move is imminent, we’re still in limbo waiting.

Husband’s student loan #1:  $12,252.03               -58.78

Husband’s student loan #2: $16,318.31                -77.80

Total:  $28,570.34                                                           -136.58

A few notes:

The Negative:

I hate paying so little on the student loan, but I am glad that we’re bulking up the emergency fund.

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 $690.

When we became Gazelle Intense on October 20, 2011, our balance was $57,966.01.  Since then, we have paid down 50.7% of our debt, or $29,395.67.

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