$2,907 Debt Destroyed – Monthly Review – April, 2017
Welcome to the April installment of our monthly financial review. I plan to track our financial position at the end of each month in order to show our progress in real-time as we pay down our debt and live on a budget. Eventually, I plan to include a bit more detail and track things like how well we follow our budget, but for now we’ll settle for the basics.
So, where were we? If you take a look at our position as of 3/31/17, you’ll see that we had a total of $99,493.56 in debt. We’ve established a budget and are settling in to our new jobs and life of financial responsibility, and things are going pretty smoothly. We’re focused on wiping out our credit card debt and remaining car loan within the next few months and have automatic payments coming out of every paycheck, before we have a chance to spend any of it.
The end result is that we paid off another $2,907.49 in debt during April! This brings our debt total down to $96,586.07 as of 4/30/17. We began this journey in January, 2017 with over $107,000 in debt, so seeing this progress is awesome and only fuels the fire to become debt free. If our progress looks a bit slow this past month, it’s because we’re sitting on some extra cash as we’re in the process of switching banks and setting things up. We’ll be back on track with some big progress in May!
As I shared previously, we should have close to $5,000 extra each month to pay toward debt, and we look forward to CRUSHING IT in the coming months and sharing our progress along the way!
How do you balance your financial goals with family time and vacation dreams over the summer? Do you have any side-hustle jobs that pick up with the weather outdoors?