The Official 2021 Debt Smackdown

Welcome to YNAB's 2021 Debt Smackdown!

Happy New Year! 2021 is going to be a good one, I can just tell - or we can will it to happen 馃槈

With over 500 participants and more than $4.2 million in debt payoff, 2020 was absolutely incredible for the debt smackdown group! I know some of us are still left with debt to knock out in the new year or you're joining in for the very first time. Either way, you've come to the right place. We'll use this group for accountability and support as we crush some (or all!) of our debt in 2021!

First, a quick shoutout to BritishMuseum - they have hosted our debt smackdown for the last few years and became DEBT FREE at the beginning of 2020! What an impact their work has made on this community!

If you want to pay off some debt this year, here's how it works:

1. List the amount of total debt that you owe. 
This step is to give you an awareness of your current debt situation. Feel free to share, this forum is a safe and nonjudgmental place. You can also decide to keep this information private, you don't have to post your total here if you are not comfortable doing so. 

2. Post in this thread the total amount of debt you would like to pay off during the 2021 calendar year. (This part is required.) 
Feel free to break down the amounts by credit card/type of debt. Also, if you have a specific plan or some ideas on how you plan to pay down the debt, you can post that too. Maybe your plan will spark some ideas for others on how to tackle their own debts!

3. Post monthly on the 2021 Debt Smackdown Sheet to track your progress. (required)
Claim a line on the spreadsheet, and post your total debt to be paid off, and the monthly amount that you send off towards it. Some people track their total payments and don't account for interest, some people account for principal only. The method you choose is up to you!

4. Check in monthly in this thread and report on how your debt smackdown is going. (required)
We'll be testing out some reminders this year when the month rolls over because we want to hear everyone's progress! Bookmark this thread and sheet so you can find it quickly at the beginning of the month!


If you come across this challenge later in the year, no worries, you can always jump right in. Just put zeroes in the months where you had not joined the challenge yet, and start in the month you join in.

Pro-tip: You can use ctrl+F (or command+F on a Mac) to search the spreadsheet for your name when the sheet gets filled up.

Last year, we paid off over $4million! Let's make 2021 even stronger!

In the event you have any issues with the sheet - please tag or DM Veronica

1685replies Oldest first
  • Oldest first
  • Newest first
  • Active threads
  • Popular
  • How do I link my journal to the spreadsheet please ? I鈥檓 not good at spreadsheets. 

    Like
    • polishrose Are you on a computer or mobile phone? It's easier on a computer. Open your journal in one browser tab and copy the link address. Go back to the smackdown spreadsheet and find the cell to the right of your name (it's cell C222 in your case). You have two options. Either:

      a) Right click on that cell and click on "insert link" then type in the name of your journal, paste the URL, click "apply"
      b) Click once on that cell and then find the icon near the top right side of the spreadsheet with a little chain link image. Type in the name of your journal and paste the URL. Click "apply"

      Hope that helps!

      Like
      • polishrose
      • polishrose
      • 4 mths ago
      • Reported - view

      mandiferous I did that but it came up as a https link rather than a blue hyperlink like some people have. I can use both a computer or a phone I don鈥檛 mind. 

      Like
    • polishrose hmmm. it sounds like you just pasted the link without adding the title through the "insert link" button? When you right-click on the cell and click on"insert link" you should see this text box pop up. then you fill out both the link and the text you want to appear in that cell.

      Like 1
      • polishrose
      • polishrose
      • 4 mths ago
      • Reported - view

      mandiferous Ahhh I was being dumb 

      Like
    • polishrose nah - if you don't use spreadsheets often they can be very confusing; even from program to program there's a learning curve. I'm great with Google Sheets but put Excel in front of me and I'm lost 馃槀 

      Like
      • polishrose
      • polishrose
      • 4 mths ago
      • 1
      • Reported - view

      mandiferous I was the last class at school to not use computers so spreadsheets are a mystery to me. 

      Like 1
  • 1st of the month check-in for July. I'm still chugging alone working to keep from adding more debt mainly. I applied  $800 towards my debt which was all a min payment. 

    Like 4
    • Marcus G Keeping from adding new debt is HUGE - keep up the amazing work! 

      Like 1
  • July Check-In: 

    2021 Debt Smackdown Goal: $16,487.60
    Line 151   

    Jan:    $      456.25     
    Feb:    $           0.00
    Mar:   $           0.00
    Apr:    $     647.60 
    May:  $  2,113.94
    June: $         73.86 
    July:   $      201.37

    $ 3,493.02 / $16,487.60 = 21.19 %

    Motivation is waning here guys... especially now that it's summer and things are opening up post-pandemic (at least where I live).  Trying to do things with friends at home where I can, but there is something nice about being around other people again. I feel like I've fallen off the debt payoff wagon, so I'm going to spend some time reading your inspirational posts to get myself back on track.

    Like 4
    • fiona_orange You can do it!!! Even if you don't make your goal, the fact that you're still here, and you are still working on it is GOOD! I can totally relate to wanting to do more things out (our eating out budget is creeping back up again 馃檮) so give yourself some grace and keep working on balance. And just remember balance changes day to day, so what it looks like today might not be the same tomorrow, and that's totally ok.

      Like 1
  • August check-in:

    Paid towards personal loan: $1584.95 which means I've surpassed my goal of paying off at least $7K this year!!! I've upped my goal to pay off the remaining balance of  $3500 by end of year! :) I finally got myself one month ahead and all my true expense categories at a place that I'm comfortable with so I was able to pay more aggressively this month and will continue to do so for the remainder of the year! Fingers crossed I can pay off the remaining balance of my personal loan  so I can tackle my student loans in 2022.

    Like 5
      • Violet Yeti
      • Violet_Yeti.13
      • 3 mths ago
      • Reported - view

      TickTock Congratulations!

      Like
    • TickTock Congrats! Amazing progress!

      Like
    • TickTock Awesome, congrats!!!

      Like
  • July 2021 Update: Put $7017.14 towards my Student Loan.  Almost home!

    Like 3
      • Violet Yeti
      • Violet_Yeti.13
      • 3 mths ago
      • 1
      • Reported - view

      Sky Blue Wizard omigosh you're killing it!

      Like 1
    • Sky Blue Wizard WOW! This chart is so lovely to look at! 馃槉

      Like 1
    • Sky Blue Wizard  I think this has been the coolest thing to watch in the debt smackdown!!! You're SO CLOSE!!!!

      Like
    • farfromtheusual Thank you.  It is an amazing feeling! Just unbelievable.

      Like 1
  • August Check-In (line 73)  

    Can I get a woot-woot?!  I did it friends... I made my stretch goal of paying off Loan #2 in August!!!  馃拑 (I think that's a dancing lady 馃槈 )  Thanks to overtime - I made it happen despite some runaway spending in May and June!  I think it's only right that OT contributed to making this goal, because it's partly because of OT going away two and half years ago that I found myself in this situation (OT stopped, but my spending didn't!).  Who am I kidding - it was all my doing that I found myself sitting on $35k in debt.  But I do appreciate having both YNAB and OT to help me make it this far!  As it looks like OT isn't going away for a little while... Loan #3 should be taken care of easily in October.  That is very exciting.  It would have been fun for me to have gotten debt free in my year anniversary month - but the end is in sight and I have other goals for the extra $$ that being consumer debt free will open up - so no lifestyle creep for me (gotta max my Roth and 401k before catch up contributions become available!).

    I just want to encourage you all - because you can do it!  It doesn't matter if you are just chipping away a little at a time, if you have tens and tens of thousands (insert your currency here) of debt, or if you can knock out large portions every month - keep at it and you will get there!!

    Total as of:   

    Jan 1: $15,925.65    

    Jul 25: $3,061.80

     

    Loan # 1: 0.00 (paid off in February)     

    Loan# 2: 0.00 (paid off in August)    

    Loan#3: $3,061.80 (by October-ish)

    Like 7
    • Violet Yeti Let's gooooo! Awesome news 馃槉

      Like 1
    • Violet Yeti AWESOME!!!!!! Congrats!!!!

      Like 1
  • August check-in: Chugging along. $695 paid to debt. 

    Like 4
  • Catching up again with the spreadsheet. Had some unexpected expenses鈥 doesn鈥檛 that always seem to be the way? Luckily I was able to pick up some extra shifts at work鈥 it just means that OT which was originally planned for debt paydown went to those expenses instead.

    All progress made over June, July, and August was normal, minimum payments for my husband鈥檚 car, since our student loans are still in forbearance. I haven鈥檛 been able to pay anything extra to debt since March. BUT school is going well!! (nursing school is no joke, y鈥檃ll.) Counting down the days until the end of my program in December. 

    2021 Starting Debt: $67,989.14
    June Debt Paid: $400.24
    July Debt Paid: $405.12
    August Debt Paid: $403.70
    Current Debt: $59,806.73
    Debt Smackdown: $8,182.41 / $17,000 (48.13%)

    Like 3
  • August check in 

    Put another $377.15 down on those student loans.  My focus loan is down to $540 and a nice $200 principal payment is all set to smack it down in September.

     

    I definitely will get two of my Student Loans out in 2021, not sure I will get the third out. But I definitely will be in the homestretch in time for the Big Event in 2022!

    Like 4
  • July/August- Sent $2000 towards the student loans for 65% of goal.  This will almost (next month!) pay off 2 of my 3 student loans (sending to savings account and earning a bit of interest until the end of January interest resumes).  The last one is my lowest interest one and I plan to be rid of it in 2022.  I.Cannot.Wait to send in the final payments ;)

    Total paid $18,118.80

    Balance remaining $9855

    Like 3
  • July/August checkin.  Last month I paid $1150 towards the debt and this month $900 towards the debt.  I had to draw from the Heloc for property taxes but still feeling good about where I stand.  This month and last were a big travel month for our family but all of the money was budget and no added debt was created.  The next few months will be tight but travel is picking up a little so that will help. Have a great rest of your summer.  :-) 

    Like 2
  • Checking in for July & August:

    July: 1,000

    August: 1,010

    Keeping steady paying down my last credit card. I wish I was paying it off more quickly, but I can't be mad at my progress. 

    Like 1
    • MoneyMonster Steady goes it - you're doing great! 

      Like
  • August check-in. Steady plugging away with another 1014 chucked at it.

    Like 2
  • Halfway through August, figured it's time for my July check in: My moving bonus from work came in, giving me an extra $1800 this month so I was able to pay off my $3,000 personal loan! Debt #2 gone.

    Now throwing that $300 snowball payment at my smaller Sallie Mae loan: $4,293 and attacking that one with a vengeance (Dave Ramsey voice). Hoping to get that paid off in a couple months!

     

    Loan #1, Personal Loan: $5,000.00 0.00 (paid off in March 2021)

    Loan #2, Personal Loan: $3,000 0.00 (paid off in July 2021)

    Loan #3, Sallie Mae: $4,293

    Loan #4, Credit Card: $7,730

    Loan #5, Sallie Mae: $10, 278

    Loan #6, Student Loan: $25,611

    Like 5
    • AstronautEAP Hooray for crushing debt #2! You're making great progress.

      Like
  • I also finally started my journal! I've been debating on starting a blog, but the journal is a good first step. Come pay it a visit: https://support.youneedabudget.com/t/35h1r0x

    Like 1
    • AstronautEAP I'm glad you've started a journal! They're a great way to keep track of your progress over time and see how far you've come.

      (I can't the be only one that has trouble remembering, right?!)

      Like
  • August Check-in

    Personal loan #1 down to $13,040.19 which is $458.50 paid to the principal this month.

    Definitely not where I wanted to be with it at this point in the year. I'm hoping to at least get it down to under $10k by 2022, but my original goal was to be rid of it and I'm not even 25% paid off on the balance I started with on it this year. Plus I added credit card debt to my life which is weighing me down a lot. It's depressing me that I feel like I back slid. Unplanned expenses are my biggest struggle. I don't plan properly for true expenses and then don't have enough so when unplanned comes into play, it really cuts into me. 

    Which is stressing me out because my baby is due next month and kids are full of unplanned expenses. I worry that I wasn't financially ready for this next chapter. But I don't think I ever would be, there's like no "right" time to dive into being a parent but I want to make sure I give her a good life. 

    Undebt.it says I'll have the full balance I owe ($117,239) paid off July 2026. My two personal loans will be done by the end of 2023 with just the minimums. I need it to be sooner. I feel like I don't have momentum to keep up with the journey. I add more to my debt and then keep sliding back into future and future payoff dates. I try to keep in mind that having the $2200 that I pay to loans every month will be a game changer, but it's so hard when it feels eternally like a "someday" - I've been paying debt for over a decade now and it's only gone up and up...

    A positive that I need to really be smart about is that I was promoted this month and got a $10k raise with it. That is a great improvement but I'm worried I'll just still overspend. I'm trying to be smart and use the extra for the credit card debt I accumulated first but I'm already zero'd out on my budget from overspending at the beginning of the month. My age of money hovers around 10days and that's just super not comfortable to live with but I can't ever seem to get 30days to stick. 

    Anyways, I know things I need to do, I hear others stories, I try to stay focused, but the weight of the amounts are just really weighing me down this month. 

    Like 1
      • MadDog
      • Navy_Blue_Pegasus.2
      • 3 mths ago
      • 1
      • Reported - view

      Green Cleric Sorry to hear about your struggles with the debt! We have had debt way longer than we intended but with YNAB we have been able to get hold of it and pay off significant chunks which has helped overall.

      A couple of potential ideas that may help:

      1. Use your new salary increase to fund as many of the true expenses as possible. What are those unplanned expenses? Would they be covered if you had funded true expenses? When we get raises, we keep our budget the same and use the increase to fund debt repayment or wish farm items (things we want that might not be within our budget right now. By using your increase to fund those things which are tripping you up, then you might not add to the debt.

      2. Are you too aggressive on your debt? A few people have mentioned here that when they were too aggressive on the debt, they did not feel like they had a life or that other expenses would come up that they had to then add to the debt. By scaling back the debt repayment a small amount, they had more for true expenses to prevent additional debt and feel like they had a life. We have done that. We have a smaller amount going to debt but now we can  reliably do it on autopayment and keep the balance going down while not feeling like it is burying us.

      Like 1
    • Green Cleric *hugs* I just want to acknowledge that even when you know exactly what to do, it can still feel so. overwhelming. 

      Like 1
    • MadDog Thank you for the encouragement and advice!

      Unplanned expenses I've recently had were having to buy a washer, dryer, and fridge. I'm a renter, we moved, we had the money for the security deposit and move, but the place we found didn't supply appliances and we were in a crunch to get out and took it up. Maybe we could have waited and kept looking, but I certainly didn't plan for buying three major appliances plus a few odds and ends that are needed to accommodate our stuff here compared to the old place. Other things that feel less planned but I should have been accounting for is that we got another vehicle so we can have two when the baby was here so insurance went up when it was already due and I just never seem to have the money in my budget for registration and everything so it all piles down and seems to hit at once.

      I definitely need to take the increase and put it into true expenses first. I do think in the past I was too aggressive with debt and it caused a negative cycle of always getting into more. I need a better buffer. Right now, I'm not paying nearly as much as I want to debt, it's really the minimum, some points from a CC I use, and then like $50 extra. But maybe I should even take that $50 for true expenses right now. I feel like I'm just not good at staying on budget, so I pull into the true expense categories to cover overspending and never get ahead. Always playing catch-up.

      Rachel  Thank you! It really can be so overwhelming. And being in that mental space, it gets so appealing to slip into bad habits instead of staying on course.

      Like 3
    • Green Cleric hang in there! Knowing where you are is the first step to getting somewhere different. Here's a couple other thoughts to add to the suggestions you were already given that might help.
      Do you know your averages for every category? If you've been using YNAB at least 6 months (even 3 months is a good start) or longer, then you can go into the reports and really dig into what you are spending on average each month. I use this for the power bill, groceries, gas, eating out, and anything else that tends to vary a bit from month to month. Once I made this shift in the budget, and really started to fund the categories with the average, it made a HUGE difference in the amount of WAM'ing I had to do. I have not had to stress about a power bill since I made this shift over a year ago. Even in the height of summer, and the coldest parts of winter, there's always enough in the category because I'm always funding the average. The same is true with gas, and groceries, and everything else that tends to shift a bit.

      I agree - getting too aggressive with debt ends up leading to more debt, so being on the conservative side until you know you've got a good cushion built up is important. Do you have any sort of 'emergency fund' that you can use for things like those appliance purchases? Obviously those purchases are made, and so that's water under the bridge at this point, but if you can build up even a generic emergency fund so that if something pops up then you're able to deal with it.
      Another way to save funds is to pay the car insurance in the 6 month lump sum. We saved $50 per month when we were able to switch over to that option, if you aren't doing that already it's a great way to tighten up the budget. Just over estimate what you need to pay and put it into a category each month, and then not only do you have it all ready and waiting, but any surplus funds can get moved somewhere else (like to debt or true expenses).

      Lastly it sounds kind of simple, but I sat down and actually totaled up my basic expenses each month, so all the bills that I have to pay, and the averages of the categories that are a little unpredictable, and was stunned to find out that I barely had enough to cover the basics. Forget eating out, or buying myself clothes or other things. There just wasn't money there. So it might be helpful to sit down and do a little number crunching to figure out exactly how much you need to cover the bare bones bills (all your utilities, rent, insurances, groceries, gas, minimum debt payments, etc), and see what the difference is between what you're bringing in and what has to go out.

      If the number is small then that's the source of the issue, not the fact that you aren't budgeting well. About 2 years ago I did this, and realized I literally didn't have any leftover. There wasn't money for lunches out with friends, or new clothes, or anything else. It just wasn't there. When I realized that I was able to be a lot gentler with myself about the fact that I hadn't been able to pay down debt, and a lot more conscious with my spending, and what I was choosing to do or not do with my money and budget. I've since clawed my way out of the hole, and I don't have any more personal debt at all (my small business is another story) other than my car loan, which I don't entirely count, AND I'm on track to pay off just shy of a year early.

      Be gentle with yourself, and keep going. The only constant in the universe is change. You've got a raise coming, so that will help give you more breathing room, and you can restructure some of how you organize your money and I'm sure you'll be able to come out ahead.

      Like 3
    • farfromtheusual thank you! this is really helpful advice and encouragement. 

      I'll look into my averages. We moved in May so I'm still figuring out the cost for gas and electric in the new home - and it's been really hot with an AC that doesn't work great so I'm worried my bill there is going to be crazy high when it comes next... But I do need to be smarter about planning around averages at least to get a better baseline on things.

      I don't have an emergency fund really. I know I should have a buffer, but it's been so hard to get one. I tap into my savings in the end and that's already been depleted again. I need something - I'm constantly at like 10 days for my age of money which is less than paycheck to paycheck since I get those twice a month so more like every 15 days... I just never seem to be able to cover true expenses as it is to get an emergency buffer in. I do pay insurance as a 6 month premium for the discount, but then I feel like I go into debt cause I didn't plan for the bigger expense like I should have still...

      I'm going to total up my basics and see what I do really have left over. Something that I probably should have done more often instead of trying to hack away at debt and budget like I've been doing. I did it a long long time ago, but I have never reassessed as I moved, got new expenses, etc.. I have a feeling what's leftover is a lot less than I expect it to be because I've had raises since I first looked so I probably increased spending when I should have kept acting like I was still making less. I probably need to address what categories are really needs too, I think I justify too much as a need when it'd be a want to others.

      Honestly, I feel like I have this terrible mentality that I make a certain annual income that is not insignificant so I should be able to have and do certain things because of it but in reality, I have too much debt to live like that and it's only keeping that lifestyle I "expect" forever in the future. 

      Like 1
      • MadDog
      • Navy_Blue_Pegasus.2
      • 3 mths ago
      • 1
      • Reported - view

      Green Cleric 

      Green Cleric said:
      Honestly, I feel like I have this terrible mentality that I make a certain annual income that is not insignificant so I should be able to have and do certain things because of it but in reality, I have too much debt to live like that and it's only keeping that lifestyle I "expect" forever in the future. 

       We were in that boat too. Between us, we make a very good living. However, because of choices we had made along the way, we were really living beyond our means because we thought that we "should" be able to afford our lifestyle. There was quite a bit of emotional baggage attached to our decisions so we needed to work through that (we each had an  ex and four kids between us....). Once we sat down and determined our base needs (shelter, food, utilities, clothes (we have winter here, can't live in shorts)), then we were able to look at the wants such as travel, eating out, activities etc. I think it would be a really good exercise for you. 

      And don't worry if the numbers are not perfect at first. Use the averages you know from your previous home and then you can adjust for known or estimated changes with the new place. It is a constantly revolving thing. And with a baby in the picture things will change again. You can do this! 

      Like 1
    • MadDog It's nice to know it's a common misstep to have that mentality at least. I'm definitely going to sit down and take stock of needs again. Probably been subconsciously avoiding it to not own up to the truth that I'm living beyond my means - proof is in the debt I feel. 

      And yes, with the baby on the way (due next month 馃槺), really going to need to get ready for constant change. 

      Thank you again for the encouragement!

      Like 1
      • MadDog
      • Navy_Blue_Pegasus.2
      • 3 mths ago
      • 1
      • Reported - view

      Green Cleric Glad to help! So exciting for the baby!!!

      Like 1
  • FYI everyone I corrected the spreadsheet to show the full drop-down list in the thermometer view and the chart view!

    Like 1
    • jmarieb16 Nice! Thanks!

      Like
  • August Update:

    Loan Balance: $3309.20

    August Loan Payment: $325.00

    Current Loan Balance: $3000.75

    Goal: $2564.29/$3600 -> $1035.71

    Another 75 cents and I'd be under 3000!! SO CLOSE!!!!


    I did some crunching on undebt.it and figured out if I pay $345 per month then I'll cut it down to May of next year instead of June. I haven't decided if that's worth it or not. That's another $20 over what I'm paying now... and it's not a huge amount, but I don't know if I feel like pushing it that far. My margins are not huge, and not that $20 would make a big difference each month I don't know if it's worth it. I can also wait and see if I get any windfalls along the way that I could put towards the car loan instead so that I don't have to squeeze it out of every single paycheck. I'll have to start paying for contacts again some time soon, so I don't know that I want to bother with it. Jury is still out on that one...

    Like 4
      • MadDog
      • Navy_Blue_Pegasus.2
      • 3 mths ago
      • 1
      • Reported - view

      farfromtheusual We have had options to do similar and when it is that close, we tend to stick with the plan. there is something satisfying about being able to say, we stuck to the plan and did it! If we start fiddling with it, even for a positive reason, it seems to give us permission to also fiddle with it to take money away. It will need to be adjusted for bigger life events but in these types of situations, I would leave it. In the alternative, you could set aside that $20 in anticipation of paying it off a month early when May comes?

      Like 1
    • MadDog Ooo thanks for your thought process! I appreciate the ideas. I like the idea of putting it in a separate place so that it is waiting for that last month, it's a partial payment anyway, so it would be awesome to just be able to make one final big payment and be done with it!

      Like 2
      • MadDog
      • Navy_Blue_Pegasus.2
      • 3 mths ago
      • 1
      • Reported - view

      farfromtheusual Glad it was helpful! We are getting ourselves back on track after a bunch of unexpected requests for help from family. We are glad that we are able to help but it is frustrating when it delays your own plans. Luckily, we bounced back much more quickly than anticipated! 

      Like 1
    • MadDog I just added that extra category today when I went in and budgeted my paycheck :) We'll see how far I can get with it!

      Like 1
      • MadDog
      • Navy_Blue_Pegasus.2
      • 3 mths ago
      • 1
      • Reported - view

      farfromtheusual Excited to see how it turns out!

      Like 1
    • farfromtheusual That's exciting! Do you get paid biweekly? If so, perhaps there will be some triple paycheck months to help scooch the payoff date a bit earlier. I built in an extra payment on those months in undebt.it as reminders and to see how it affects my payoff schedule. And hah, I also need to purchase some contacts which were left out of my true expenses. It's there now but was a little dismaying to see how much it cuts into my monthly budget. Also a forgotten true expense due to pandemic... ren faire season 馃槀

      Like
  • August update:

    wow this month was another month of terrible overspending and my progress from earlier in the year has been all but wiped out. Really working on digging to root causes and putting up spending barriers and focusing on doing better going forward rather than wallowing in my failures and hating myself. Not always successful, but WIP. Summer's are never good times for me mentally, and I have not been helping myself along. But regardless... on to September. With all the good intentions I can muster.

    July balance: $14861.30
    August balance: $15246.77
    Difference: +385.47

    $703.29/$2500 = 28.13%

    Like 2
  • August 2021, Line #37

    Weeks 1-3: Tithe, then the rest in September to "For Next Month."

     

    Week 4: Tithe, then finish off September. The rest goes to debt snowball (truck).  

     

    Hubby鈥檚 mom鈥檚 leukemia treatment is still going well. She had a mild case of Covid (vaccine was in February or so). :)

     

    Total paid in August: Minimums plus $2650

    Miles driven for work: 23,991 miles

    Like 1
    • Coral Mare Oh goodness - glad to hear it was a mild case!

      Like
    • Coral Mare Good on the mild case! Glad you're still trucking along, literally!

      Like
  • August Check-in: $1,459.82 paid toward (includes P&I)

    Plugging along over here. Feeling impatient with debt payoff and like it is such a long road. Also trying to remind myself I've come a long way in the past 3 1/2 years since doing YNAB and focusing on debt paydown. And to do my best to take the right next steps toward the trajectory of where I am hoping to go (debt free!)

    Current outstanding (excluding mortgage):

    Credit card 1: $4,969.76

    Credit Card 2: $7,594.00

    401k loan: $25,555.27

    Student Loan #1: $17,846.47

    Student Loan #2: $28,449.44

    Total: $84,414.94

    Like 4
    • Hot Pink Admiral Yup, one foot in front of the other is the only way to go.

      Like 1
  • August was a rough month.  I thought I had all my ducks in a row for vacation and clothing categories but whoops!  Not so much.  So any progress I thought I'd make, did not happen.  Almost done paying off the one credit card.  Moved the balance from one card on to another one with a low interest rate and a transfer promotion.  Won't have it paid off before the promotion period is over but the interest will be 10% less than what I was paying so it will go faster!  Looking forward to September being a little slower in terms of cash flow.

    Like 1
    • Orchid Cup I think we're on the 3rd balance transfer roll over of some of the BF's debt, so yeah, you just keep rolling it around until it's gone! Lower/no interest is better than interest, so it makes sense!

      Like
  • 馃捀 February to August Check-In 馃捀

    Yeah, you read that right. 7 months. It's been tough.

    Our 2021 mixed bag continued after my partner sold his race car. 

    Summary of this period (aka TL;DR)

    Partner unemployment, Belt-tightening, Partner gained employment, Partner unemployment, My stressful government recruitment processes, My possibility of unemployment, Mental health concerns, Paid off car loan = money for credit card, My winning a promotion, Partner gaining good paying job, Plumping up the budget with extra funds, Lockdown.

    Yes, it has most definitely been a roller coaster and I hope we can get off for a while 馃槀

     

    The more detailed version (just because I need to get it out there)

    February - Debt paydown this month (net): $880.65

    My employment contract was extended for another 18 months which was great (I love my job and my team). My partner was 'put on the books' within the company he worked for. Unfortunately it was only as a casual.

    March - Debt paydown this month (net): $1056.05

    My partner was offered a leadership role within the same company. They stuffed him around by offering it, retracting the offer, offering it again, retracting it AGAIN and then expecting him to train the person if they could manage to find someone for the position (It's a niche industry and this unicorn person doesn't exist). My partner was doing nearly 2hr each way commute for this job and finally had enough when the new owners wanted to shortcut on safety.

    April - Debt paydown this month (net): -$105.89 

    My partner resigned and had two weeks off before starting his job hunt. Luckily we have an emergency fund. Meanwhile, my job is going gangbusters and I'm involved in all kinds of challenging projects.

    May -  Debt paydown this month (net): $314.23

    My partner finds a casual job locally so we don't have to keep eating into the emergency fund. I'm dubious about it because the boss shows a consistent lack of boundaries and takes advantage of his time. He did a LOT of unpaid work which doesn't sit right with me but I hold my tongue. This month the recruitment starts for my team to try and win our positions. All levels of the team are up for grabs and it's terrifying to think we could lose our jobs and the team could be completely different. Applications are tough and I have to prepare one for each level to cover my bases.

    June - Debt paydown this month (net): $1,828.99

    My partner notices the cracks with his boss and starts looking for a job elsewhere. He resigns before finding a replacement job. We cut our budget right back and are managing to stay on top things thanks to YNAB. I'm stressing out and spend most of this month waiting to hear whether I progressed to interview stage for any of the positions. Eventually find out I gained an interview for the highest level position I applied for. Spend a week doing interview preparation on top of my hectic work schedule and trying to support partner with job hunt. Have the interview and promptly freak out that I've stuffed my chances.

    July - Debt paydown this month (net): $561.43

    My partner gets lots of interviews but they all try to pay less than advertised. He's beyond frustrated until he gets offered two really good jobs within days. He takes a calculated risk and decides on the higher paying but less permanent job due to a number of factors. I continue stressing about the recruitment. I am successful at getting to interview stage for two more positions I applied for. More interview prep but I think I do better this time around.

    August - Debt paydown this month (net): $1,828.99

    I am successful in winning a promotion! My partner is enjoying his new job. He has already been signed off on multiple areas of the plant (I'm a bit proud that he was signed off on one area in his first week when the last guy took 8 weeks). I realise I am ahead enough in YNAB with my car payment that I can PAY OFF MY CAR LOAN! That's $600 I can now put towards the credit card. We also got to rejig our budget to take into account the extra money we're bringing in. So happy to plump up the budget again

    Our region (and later the entire state) goes into LOCKDOWN thanks to poor quarantine management of international arrivals and inability to stop people in the capital city infecting regional areas. I am beyond grateful that my job allows me to work from home and my partner's new job is considered essential.

    We are so lucky compared to so many but these month have still been difficult. I'm not sure we would have got through as well as we have if it wasn't for us living rural and having YNAB. 

    Like 4
    • This_Little_Piggy wow, you weren't kidding about the roller coaster! SO glad things are looking up for you both! Here's to crushing that debt so that it never has to be a thorn in your side again!

      Like 1
    • farfromtheusual thanks! it has been stressful but I have to say this month has been a very good month. We are totally going to smash that credit card so we can hopefully buy our first home next year. We can do it! 

      Like 2
    • This_Little_Piggy YESS! Way to keep at it in spite of all of those up and downs.... So excited for the next leg on your journey!

      Like
    • This_Little_Piggy wahoo!!!!! That's awesome! Can't wait to see that post hit the boards!

      Like
  • Welp, I'm not sure who this person is in the mirror: with another $6500 toward debt, we're well past 2021's goal now: https://support.youneedabudget.com/t/p8htam6?r=60hp6m5

    Like 6
    • Turquoise Drill That's amazing - I love how you've blown right past your goal.

      Like
    • Turquoise Drill wahoooooo!!! Way to go!!!!!

      Like
  • 馃尅锔忦煃  August Check-In   馃崈馃尅锔

    Another 1544.55 paid off this month and only 1544.55 to go!! I'm not really able to wrap my head around the knowledge that I will soon (VERY SOON) have no credit card debt.

    Debt pay down progress in 2021:

    • August: $1544.55
    • July: $1544.56
    • June: $1544.56
    • May: $4214.40
    • April: $5207.18
    • March: $3038.60
    • February: $3094.69
    • January: $3923.86

    Current Standing

    • 93.98% of the way to my 2021 goal.
    • Credit card debt remaining: $1544.55
    • Student loans: $20,121.18 (in covid forbearance)

    Total progress in 2021: $24,112.40 paid off

    Total debt paid off since starting YNAB (11/2019): $48,173.53

    Like 5
    • Violet Storm WOW!!! That's awesome!!!!!

      Like
    • Violet Storm You're SO close! Amazing work.

      Like
Like52 Follow
  • 52 Likes
  • 18 hrs agoLast active
  • 1685Replies
  • 6604Views
  • 191 Following