Our last debt repayment report was April 3, so here is the progress we have made since then:

The current balance and the change in balance since the last report are:

Business credit card: $1,145.57    -252.63

Personal credit card: $11,364.33    -130.25

My student loan: $5,535.20    -157.40

Husband’s student loans: $30,957.74     -30.82

Total: $49,002.84     -$571.10

A few notes:

  • The business credit card is seriously getting on my nerves.  How long will that little thing linger?  I am going to try to attack it this month by selling some more things on eBay and Craigslist and putting all the extra money I can on it.  Hopefully, my challenge to track my spending will help with this.
  • I want to renew my gazelle intensity.  The 8 week period when we couldn’t snowflake has thrown me off.  Time to get intense again by working extra and spending less.
Emergency Fund
In addition to tracking our debt repayment, I am now also tracking our emergency fund.  We recently toed the line too closely, so our goal is to eventually end up with a $5,000 emergency fund while we are paying down debt.  Right now, our emergency fund is $2,058.03.

When we became Gazelle Intense on October 20, 2011, our balance was $57,966.01.  Since then, we have paid down 15.4% of our debt, or $8,963.17.

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 $12,509.90, so we have paid off 38.5% of our credit card debt, or $7,806.73.

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