Oh my, it’s been a few weeks! Life has been BUSY! We celebrated Jaidan’s 2nd birthday on August 2nd and then his party with friends/family was on August 6th! Then my little 2 year old got a 2 day tummy bug (on daddy’s birthday) and shared it with me right after so I was in pain at home (for our 5 year anniversary!) The following week I had to work weird hours since I missed work from being sick & I’m now off for 2 WHOLE WEEKS from my foot surgery I had yesterday morning. Whew! So I will catch you up in the next post but right now it’s time for our FPU update!!
| Who We Owe | Total to Start | Remaining Balance | Month Paid Off |
|---|---|---|---|
| Kohls | $235.26 | $0 | March 2010 |
| My CC | $275.70 | $0 | April 2010 |
| Couch | $1472.18 | $0 | October 2010 |
| Credit Card | $4577.81 | $0 | October 2010 |
| Student Loan #1a | $2625 | $0 | November 2010 |
| Student Loan #1b | $4000 | $0 | February 2010 |
| Student Loan #2a | $2625 | $0 | April 2010 |
| Student Loan #2b | $4500 | $0 | July 2010 |
| Student Loan #2c | $4523.89 | $0 | July 2010 |
| Student Loan #3 | $5522.40 | $3020.26 | |
| Hospital | $2000 | $1980 |
TOTAL DEBT: $32,357.24
Remaining Debt:
| Month | Debt Remaining |
|---|---|
| $32,357.24 | |
| July | $29,477.14 |
| August | $28,977.14 |
| September | $28,004.96 |
| October | $23,427.15 |
| November | $21,715.73 |
| December | $21,795.47 |
| January | $19,795.47 |
| Februrary | $18,319.75 |
| March | $16,599.54 |
| April | $15,573.71 |
| May | $15,060.16 |
| June | $14,055.88 |
| July | $6,664.67 |
| August | $5,000.26 (really!?!?! Darn daily interest!!) |
Here’s how God has blessed us this month:
$548, our new debt snowball (I refer to this a lot so if you aren’t sure what I’m talking about click here.)
$18 in change
$70 side job
$100 extra from groceries
$100 gift for Jared’s birthday from his dad
$10 Jareds birthday money
$10 from envelopes
$1,000 extra from my paychecks
Totaling $1856 to debt this month
ALSO… I cash flowed my $1700 foot surgery! I couldn’t put it toward debt, but we didn’t go any deeper either. Sounds like the beginnings of financial peace, huh? 🙂 Amazing!
7 Baby Steps:
Baby Step #1: $1,000 emergency fund
Baby Step #2: Pay off all Debt (except the house) using the debt snowball
Baby Step #3: Fully funded emergency fund of 3-6 month expenses
Baby Step #4: Invest 15% of income to Roth IRA’s & pre-tax retirement
Baby Step #5: College funding for your children
Baby Step #6: Pay off your home early!
Baby Step #7: Build wealth & give!
To learn more about the baby steps & becoming financially secure visit here
To find a FPU class in your area visit here (When you find one, contact the church first because you may be able to get a discount)
I HIGHLY recommend the class if you want to succeed!
