In last month’s debt repayment report, I shared that Murphy had taken up residence in our house.

Well, Murphy is an unwelcome house guest who just won’t leave.  We’re handling our many unexpected expenses so far without going into debt, but I sure hope Murphy moves out soon!

Also, you may remember that we’ve been paying the minimum on my husband’s student loans until we receive notice if he had gotten a grant that would pay half of the loan balance.

We were supposed to hear in March, but all we heard in March is that his application is under review and that we’ll find out the results in SEPTEMBER!!!

Patience is a virtue, right?

Here’s the report for this month:

At the time of this report, the April student loan payment has not been paid yet as it’s scheduled a few days from now.  Thanks to accrued interest from the last month, it looks like we’re making very little headway.  Things should look better after this month’s payment.

Husband’s student loan #1:  $11,851.85              -91.76

Husband’s student loan #2: $16,318.99                -5.20

Total:  $28,170.84                                                     -96.96

A few notes:
The Negative:

We still have some big expenses coming up–$500 for new tires on our car and $600 for a mouth guard for me (I clench my teeth at night, and my old mouth guard put too much pressure on one tooth, which lead to a crack and a root canal.)  I’m not sure yet how we will pay for these things.

Also, PB & J Girl has finished her kindergarten curriculum, so I need to order her first grade materials.  That will be approximately another $250.  Bookworm still has another two to three months of 5th grade work left before I need to order his 6th grade materials.  Cuddle Bug has most of what she needs.  I plan to sell some of my homeschooling materials to pay for this, but I’ll still need to find some extra money.

The Positive:

In the first three months of 2015, we’ve paid for $2,791.10 out of pocket in medical and dental expenses.  We’ve been able to pay cash for those expenses.  That is something we would not have been able to do a few short years ago.

Emergency Fund

We did have to dip into this a bit thanks to our many expenses.  One of my financial goals for 2015 is to save 3 months of living expenses, so I’m going to be tracking that in these monthly reports.  I won’t give exact numbers, but I will tell you each month how many days or months’ worth of living expenses we have.  Right now, we have 4.8 days of living expenses saved.

Unexpected Expenses
We’re saving slowly for our unexpected expenses, including the tires and my mouth guard.  Right now, we don’t have anything saved because we just paid for all of the other expenses out of pocket.

Replacement Car Account

Another goal is to save $3,000 in our replacement car fund.  Right now, we have nothing saved as we’re first trying to save for the unexpected expenses and build up our emergency fund.

When we became Gazelle Intense on October 20, 2011, our balance was $57,966.01.  Since then, we have paid down 51.40% of our debt, or $29,795.17.

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