July Monthly Check In

• Construction Loan:  Balance $0!
• Medical Loan: Paid $405 - Balance $595
• #2 Medical Loan: Paid $300 - Balance $5,800

I had enough money to finish paying off the first medical loan. But unfortunately my fridge went out so I had to use the money to buy a new one. I'm glad to be able to cash flow this expense and hopefully I'll find some windfalls and knock out the loan next month.

Total paid this month $705.  $9,475 / $15,870 - 60% complete for the year!

I cant get the spread sheet to go to the right to reach July.  It won't go past March.  Is this my problem only or have others experienced this?

☀️June Check-In ☀️

I'm 93% of the way to my debt payoff goal. Halfway through the year and I'm almost done with what seemed like an impossible goal. I'm a little ... speechless. So, so grateful to YNAB and this community.

Debt paydown progress in 2020:

June: $2528.02

May: $2002.09

April: $1712.68

March: $1730.05

February: $1370.62

January: $1821.11.

Total progress: $8636.55

Current standing

Student loans: $20,121. 18 (in covid forbearance, so I'm redirecting the payments to cc's)

Credit Cards (3): $36,480.02

July checkin: Paid $567.16 (includes P&I)

I'm taking advantage of the student loan forbearance and moving the regular student loan payment amount of $376.65 to a category called Student Loan Payments on Hold, so my debt payments are lower than normal.  I'm happy to report that since starting YNAB in March 2018, I have now reduced my outstanding debt by over $20k! I was so very stressed when I started. I remember thinking getting off the credit card float was going to be impossible. When I started I also just kept thinking that if I got rid of the credit card debt, i'd be fine. I've learned since then the importance of saving for the expected and unexpected irregular expenses in life, even if I have debt. Still plugging along on my debt smackdown journey, my current total debt outstanding in $69,375.60. And I'm looking at houses to buy maybe this summer/fall as a first time homebuyer, which will increase my debt, but feels like a good move for me if I find the right property.

Things have gotten a bit tight, but I'll find out if I'm out of covid wages next week. I am a bit behind doing some gig work so haven't gotten paid for that. I hope that I'll sort my work out better this month so I can actually increase my wages. Otherwise I'm really really behind in clearing my cc. But $500 in June. I honestly need to be putting 2k, so I must accept I'll start getting some interest payments in the fall. It is what it is. As long as I clear all the other expenses off my cc and get myself back to being balanced I'll be happy.

Happy July everyone!   I have paid $800.00 toward the equity and Best Buy and have not accumulated any cc debt.  I need to have some work done on the house so I was not able to put more money towards the debt.  Every little bit helps especially during this time of no work.   

Well.  Started at $25,980 debt and at 96% paid. $900 to go and I’m hoping to get it accomplished next month.  

Eeeee!!!! I just made my usual payment to the outstanding debt I have, and it's below $300! That's the lowest "personal" credit card debt that I have ever had, or at least had in a LONG, long time. I'll wait and post my official update when I add the extra that I'm adding onto my car payments later in the month, but I just had to post that little update! It won't drop under $200 for another 2 months, but this is a nice milestone right now!

June Check In

Auto Loan: $4,788.28 - $4,788.28 = $0!!!!!!!

Well I definitely typed out a June check in, but I guess it didn't post?! Anyway, June was a GREAT month. I was able to get my Honda CR-V paid OFF! It has been a sprint the past few months, but so well worth it. :D Now to save that " minimum payment" towards future vehicle replacement!

July Check-In...Paid $200 towards 1 credit card and Parent Plus Loan (both currently at 0%), bringing total to 62% debt paid.  I threw the bulk of extra money this month towards my Buffer (this is where my Home and Car Maintenance categories are, my Gift Giving, Medical, Pets, and Christmas).  I also made the last ever tuition payment for my son (I choose to cover my kid's Undergrad and they have to cover Graduate degrees).  So...next month I'll be rolling in dough!  Just kidding...but I will be able to make more of a dent in my debt.  I'm more than ready to delete my Debt Sucks ;( Category!!  

Hoping everyone is continuing to stay safe!  

"Be kind and have courage." Anne Frank

Excited to say that the final payment for my student loans cleared today! 🎉 Paid in full.

My original 2020 goal was $5,893.06, and paid $5932.54.

Paid $2601.00 to my Smackdown amount in July.  Had some unexpected expenses but they were funded so I did not have to add any debt!

I'm a bit late to the Smackdown party but better late than never! 😜 I'm currently focusing on paying off my lowest credit card (now $2391) and if things keep on the track that they currently are, it will be paid off this year.  I'm also trying to boost our emergency savings at the same time so it's a balancing act. I'm quite proud that we have already paid off $200 on top of minimums and we're only in the middle of July! I'm counting that as a win 🤑

Hi All, July check in, I was able to pay more this month ($3299) and get one of the credit cards paid off, I did shift some of this debt to a 0% interest card so not "truly" paid off but at least I'm not paying interest on it! And I'll have the 0% one paid off before the promotion ends. Next month I'll start working on getting the Truck paid off! Undebt.it says I'll have that done by Jan 2021 but hoping to find some windfalls to get that done this year and get back on the "before covid" track.

Not my official July check in, but my wife and I did pay off our credit card yesterday! Made a final payment of $1,459. Will be focusing on my car loan next. May get it paid off this year, may not. It will be close. If not, it will be some time next year. Either way, it will be 1.5 to 2 years early!

Also, not directly related to the budget smackdown, but we did increase the limits on our credit cards by a combined $22,500 and decrease the APR by 4% on our most used (which, per above, now will be paid off each month to not incur the interest charge) credit card.

Celebrating the small wins during the pandemic!

I did not see this coming, but our spreadsheet had run out of lines so we just added a hundred more! If you're thinking of joining in, it's definitely not too late! Claim your line on the bottom of the sheet and let us know your plan!

July - and final!!! - Update! I made a payment of £99.35 and closed the credit card!

I suppose technically – technically – technically – I still have student loans. But for those of you who aren't in the UK, they work a little different here. They basically function as an extra tax. A % of my income above a threshold is deducted automatically from my paycheque before the money hits my bank account. If I don't pay off all my loans within X many years – and I would need to be very well paid to do that – the student loans are cancelled. So those debts are basically invisible to me, as I said, they just act like an extra tax.

I cracked open the debt free whiskey I've been saving up and enjoyed a glass of that last night but it doesnt quite feel real yet. I'm keeping one (no monthly fee) credit card open for large or online purchases, as in the UK there's extra protection on credit cards.

Now onto building an Emergency Fund! 

I honestly have not posted in a few years. Life is just too crazy for me.  But I wanted to encourage everyone.  I am in my second year of No Spend, which means we buy NOTHING that we don't actually need.  So far in the past 2 years I have bought only new walking shoes.  But the biggest news is after much consideration of our life, I took the balance of our mortgage out of my Roth-IRA and paid off our home.  I had paid an extra $50,000 on the mortgage in 2018 and 2019 and I just thought why am I waiting.  I still have my 401K, some left in my IRA and my husband's IRA.  I am 62-1/2, my husband 61.  He has cancer that right now is well controlled, but I do have a fear that it may decide to spread.  He is still working at our business that is pretty well in this COVID environment.  It's really amazing to commit to a No Spend, it now is a habit and since I hate wearing a mask I have no desire to shop anyway.  My husband usually picks up anything we need on his way home from work.   So stick with it.  We are way too late in our debt free journey.  Do it now young people, you won't regret it!

I haven't posted any updates here in a few months. But I have PHENOMENAL news. For the first time in 3 years, my net worth is ABOVE zero. While I haven't officially paid off my debt, because I'm trying to keep an emergency fund as well as some liquid assets on hand just in case I get laid off (again).

I'm doing my best to maintain this new financial health. I am making sure to budget out money for things like rent and other bills a month in advance. I'm also attempting to stay in the habit of paying off my revolving credit cards at the end of every month.

But I really am so excited that I actually have a chance of paying off my debt by the end of this year. I started 2020 with a payoff goal of $5,664 (the total amount on my balance transfer card). I have officially paid off $3546! Only a little over 2k left and I'll be debt free!

Paid $1410 down for July. It was my first month in a while that I put a good amount towards debt, as I had been prioritizing savings for a few months. It feels so good to see that debt go down!

July Check-in

Truck and Car payments were made as planned (minimums, until camper is paid).   Camper was minimum + $4350.  New camper balance:  $6.917.30.  True expenses are still being funded.  

Work update:   No change since June.  Still running lots.

In the spirit of upgrading shiny objects before retirement, the appliances have been replaced.  Most were floor models, which saved vs buying new-in-box, so there's that.  There had been a line item that was *mostly* funded.

The mortgage is being refinanced from a 20-year (3 down, 17 to go, 4.95%) to a 15-year at 2.75%.  Hoping to close soon.  This will save over 100 a month on the required payment.

MILESTONE CELEBRATION:  The camper balance dipped under 10K!  The end is in sight!

Prayers that the virus will be stopped soon & forever.