The Official 2020 Debt Smackdown

Welcome to the Official* 2020 Debt Smackdown! 


Happy new year everyone! 

That's right, we're back for 2020. Last year we saw about 310 of us brutally destroy  about $3 million in debt. Wow. Right. Massive achievement. Can anyone say 'YNAB blog post'?

But there are plenty of us with still some debt to go. And as much as I hate debt, I do love a good spreadsheet, so here we go. A few of us have come into 2020 with some debt remaining. Maybe over spent at Christmas. Either way, this challenge is open to anyone who wants to eradicate that debt from your life. 

So what's this about? If you are holding onto some debt as you enter 2020 - and would like to get rid of it - this challenge is for you.

To the participants from last year, welcome back! For some of us, our total debts are too large to smack down completely in one calendar year, so if you're here from last year, congratulations on your progress and let's keep on doing this! In 2019, we collectively paid down over $2,800,000 in debt! An increase of OVER $1,300,000 than in 2018!

For all new participants, we are happy to have you join in this year! New blood is always welcome. Let's all motivate each other to pay off those debts and continue moving forward to financial freedom.
 

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 2020 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. Check in monthly in this thread and report on how your debt smackdown is going. (This part is required.)

4. Post monthly on the 2020 Google Sheet to track your progress. (This part is 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!

If you come across this challenge later in the year, no worries, you can still 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. 
 

Last year, we collectively paid off $2,800,000. Let's smash that number again in 2020!

Please let me know any issues with the sheet - sometimes things are a bit wonky when making new ones!

*Official in the sense that there's a spreadsheet. Not official in the sense that it's made by YNAB. I'm just following naming conventions here :)

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  • I am new here

    Like 1
    • vizanimationpros Welcome!

      Like
  • So, I'm a little late on my May check-in.  We've had a very fortunate month.  My husband was released from Workers Comp, so he's getting full pay again; YAY!  He also had 3 pays in May so we really socked it to the debt.  The extra pay and the Economic Stimulus payment, made even better by less spending overall, allowed us to pay $8567.26 in payments for May!!! It was really hard not to just spend the windfall and enjoy a little, but I'm really proud that we decided to pay down debt with it instead.  I'm so glad to be a part of this group.  Everyone is doing a great job blasting the debt...keep it up!

    Like 7
      • Schiaparelli Hat
      • Wear your best shoe on your head
      • Schiaparelli_hat
      • 5 mths ago
      • Reported - view

      Sea Green Vacuum Excellent!

      Like
    • Sea Green Vacuum That is amazing progress! You two should be proud. 😄

      Like
  • My debt payments for this May Totaled.. $940.68...

    Like 6
  • YALL!!! We just collectively broke TWO MILLION DOLLARS in debt paid off! That's insane!!! It's only the beginning of June! AND I noticed there are a lot of yall that haven't updated the spreadsheet, but so many people have been updating on the thread. So go update the spreadsheet if you haven't so we can see how amazing we all are together! This is 1/3 of the total that we paid off last year, and we're just shy of half way through the year. That's so cool!!!

    Like 11
      • Veronica
      • Support Manager
      • Veronica_ynab
      • 5 mths ago
      • 3
      • Reported - view

      farfromtheusual Considering we paid 2.6 million last year for the entire year, 2020 is looking pretty great from this thread! Congratulations to everyone!

      Like 3
    • farfromtheusual I am two months behind on my updates. Our lockdown is nearing the end, but as I'm caring for two adults at home instead of being a lovely holiday this has been a time of no respite and my poor budget is suffering dreadful neglect. The payments have been made, but time to organise entering them in YNAB and reporting here has been sadly lacking. I am longing for level 1 (hopefully to be announced on Monday) but as the place my Mum goes to two days a week that gives me a rest is likely not to reopen at all, I'm not entirely sure that things will get easier here any time soon.

      Like 1
    • WairereRose hugs to you! I keep hearing people talk about all this extra time they have and they’re all baking bread and gardening and organizing the garage..... They must not have kids (or parents) to care for. I have two kids (6 and 2) and no school and no daycare and my husband and I are both (trying to) WFH full time- I don’t even have time to take a shower half the time, lol. Hang in there!

      Like 2
    • Steel Blue Sound Thank you! And hugs to you too!

      Like
      • Purple Foal
      • Purple_Foal.3
      • 5 mths ago
      • 1
      • Reported - view

      Steel Blue Sound That is very challenging!! Hang in there!! Remember to practice some selfcare every day. It's crucial with little kids, and even more important now. If you don't look after the mama, then the house will fall apart. :)

      Like 1
    • WairereRose HUGS. It is a struggle, and I know that this year has brought more adapting of goals for more people than ever before. The fact that you're still kickin is a good thing. Hopefully you'll be able to get back on track soon!

      Like 1
    • Steel Blue Sound I don't have kids or parents to care for, but I take care of animals... so yeah, nothing stopped for me either! I was all excited about some down time when all this started. HA. That's a funny joke.

      Like 1
    • I’m nothing if not resilient, just get a bit flustered when the time I have to adjust doesn’t fit the time it takes me to figure out my new systems.

      Like 1
    • WairereRose I totally can relate to that!! Hang in there, you're doing great!

      Like 1
  • June Update: Paid $1013.67 towards debt. Hanging in there.

    Like 4
    • Should of added that I paid off my phone lease agreement too, which wasn't part of my overall debt amount but it was a category that can now be done away with so yay! I'm going to let the dust settle out from that (confession: cell phone billing is incomprehensible to me - it may as well be written in cuneiform), and then start shopping around for cheaper service (spouse is w/ Ting and we like Ting a lot, but I may opt for Mint Mobile...unsure yet).

      Like 2
  • Checking in for May. I updated the spreadsheet for the first time since March. Since the pandemic, I've slowed my debt repayment plan. My wife owns a small business and there was, and to some extent still is, a lot of uncertainty about the future of the business. So, I made the normal monthly payment toward my auto loan and slightly improved my monthly payments on the credit card. I wanted to keep a lot of cash on hand in the event that we experienced a loss of income. The good news is, we've still managed to pay down the debt on both the auto loan and the credit card, but may not hit our goal of paying off both this year. We'll see! We have more to be thankful for than we have to be worried about.

    Like 5
    • 3xDogDad Glad you're hanging in there!!

      Like
  • For may, I've payed all the (very little) debt I had plan for this year ! Now I can start to work on other debts I have ! I'm getting excited. Good luck everyone ! Slowly, slowly.

    Like 4
    • Powder Blue Lightning Congrats! Each payment, and pay off are steps closer to your goal. 🎉

      Like
  • Hi all! I’m joining the Debt Smackdown late. We (my husband and I) have $47773 in total debt, excluding mortgage. For now, we’re just focusing on getting rid of the credit card debt portion, which totals $19954. If we can knock it down by half this year, we’ll be more than happy.

     

    So this year’s goal is to pay off $10000. Looking forward to joining this challenge with all of you YNABers!

    Like 6
    • Mmmyellow Yellow welcome!!

      Like
    • Mmmyellow Yellow We're glad you've joined us to tackle the credit card debt! It's more fun with friends. Welcome to the challenge!

      Like
    • Nicole Good luck! You can do it!

      Like
  • Paid off one of two personal loans this month woo hoo!  The only debt left is one $9800 personal loan and  THAT loan started off at $25,000.  The goal is to pay it off by the end of the year....gotta make that happen.  Debt free by 2021!!! 😁

    Like 9
    • lil Ronnie WAHOO!!

      Like
    • lil Ronnie Hooray! And less than 40% to go. You'll get to the finish line in no time!

      Like
  • Yeah, May and June, we're just treading water here. I have a bit set aside to pay things off when/if things settle down a bit which is nice, but trying to keep a little liquidity for now... ;) 

    Like 3
    • Slate Gray Cobra You aren't alone there! 

      Like
  • June: I paid $1310 to debt, which is all minimum payments. My $1140 snowball went into its own category.  

    Like 4
  • On track to pay off furnace by August and charge cards by end of year. Spending the summer helping care for my grandkids since there’s no child care. We’re all flexing hours and I’m working from home.  It’s quite hectic. 

    Like 4
    • Slate Blue Network I hear ya. The theme for 2020 seems to be adaptation....

      Like 1
  • June progress report on my battle against the student loan beast.

    As of May 6, 2020: $208,917.90

    As of June 8, 2020: $206,888.91

    Notes: Regular monthly payment resulted in principal reduction of $1,228.99. Made extra principal payment of $800.00. Total reduction of principal in June: $2,028.99.

    Year-end goal is to get the balance down $44,934.56 (from $224,934.56 starting place on January 1, 2020) to $180,000.00. With a $18,045.65 reduction so far this year, I'm now about 40.16% there. 

    Like 4
      • Veronica
      • Support Manager
      • Veronica_ynab
      • 4 mths ago
      • Reported - view

      Slate Blue Pilot Fantastic progress!

      Like
  • Slower Progress this month on the Debt Payoff.  With some further re-evaluation of future plans, I decided it was better to put more money towards the next house fund instead of paying down the mortgage here. I also have the next 3 months without my extra teaching income, so something has to go. 

    • Car Loan:$7,313.03/$7,313.03 
    • Mortgage: $4,223.55/$7,200.00
    • Total: $11,536.58/$14,513.03
    Like 3
  • My taxes were finally assessed and the 2018 tax payback is now eliminated! Woot! Now I am snowballing that payment towards my HELOC. Been keeping snowball money in my category until things settle. Each month will now be $800 towards debt.

    Current Debt Smackdown category is looking like this:

    • HELOC payment $495 / month
    • CRA payment....now SNOWBALL $185/month
    • Mortgage Skim $120/month
    • HELOC Snowball $400

    The CRA & Mortgage skim categories are there to have goals set up. Once they are met, then I will move them into my HELOC Snowball category. Once I have a $1000 snowball, then I will make a payment. I am colouring a picture with each $1000 milestone of money paid off, so the $1000 snowball is a psychological milestone. Although with paying $800 a month now and the extra $400 snowball ready, then that goal is met.

    Current HELOC balance: $25,994.49

    June Payment: $495 + $185 + $120 = $800 + $400 = $1200

    Like 7
    • Purple Foal Love those big payoff milestones! 🎉 Coloring in the picture is a really great way to remind yourself of progress, at a glance. Do you have it displayed?

      Like
      • Purple Foal
      • Purple_Foal.3
      • 5 mths ago
      • 3
      • Reported - view

      Nicole 

      Nicole said:
      Do you have it displayed?

       Yes I do! For me on my desk with my colouring picture for workouts. :)

      Like 3
  • June Monthly Check In

    • Construction Loan:  Balance $0!
    • Medical Loan: Paid $400 - Balance $1,000
    • #2 Medical Loan: Paid $300 - Balance $6,100

    Husband had a couple days of overtime so we put it to good use. If we continue paying $700 a month plus add our HSA funds at the end of the year we should just make our goal. BUT our water heater is going out, and we want to upgrade to a tankless.  It it looking like it will cost around $2,500-$3,000 for cost + install. So that may put a wrench in our plans.  We would need to come up with an extra $500 a month to still make our goal of being debt free. Not sure that is possible.

    Total paid this month $700.  $8,770 / $15,870 - 55% complete for the year!

    Like 6
    • The Goat Queen Water heater... wrench. Ha! Our water heater is in the same sad state, and we're looking into similar. Were you planning on paying cash? For hot water, and preventing additional debt—adjusting the plan doesn't sound like a bad trade-off! 

      Like
    • Nicole Well, in a turn of events we actually just decided to roll the water heater cost into our refinance that we are currently in the process of. We will pay for the installation with cash.

      But now our fridge went out. 😔 That means in the past 3 years we have literally had to replace every appliance we own. I just bought a new dryer with cash last month! Ugh. Now I'm fridge shopping. May have to use part of my extra debt repayment monies this month to pay for it. 

      Like 1
    • The Goat Queen Oh no! I'm sorry to hear that. The silver lining is that you have new shiny appliances, and should be set for a good bit. 🤞 With being at home more, plenty of opportunity to use them as well. Our household has a similar situation, timeline and paused our snowball too. We'll make it through!

      Like
    • The Goat Queen I feel your pain!!! The first year we were in our house, it was the A/C.... then last year it was the washer/dryer... and now it's our fridge (which we brought with us and is only 7 years old!). I figure it  a couple years everything will be brand new!

      Like
  • Link to May update

    I'm very excited to share that I officially paid off the balance on one of my 3 credit cards at the beginning of June! Up to this point, I have paid off $19,676 of my $25,000 goal (78.7%). I took a hard look at my spending and have created a payment plan for the rest of the year that has me paying off all non-car loan debt by the end of October. My stretch goal is to accomplish this by the end of August and to then up both my car payment and my savings/investment contributions. Please find an update on all debt accounts below:

    CC 1: $1,575.12

    CC 2: $0

    CC 3/International Grad Student Loan Balance Transfer: $2,033.90 (0% interest through March 2021)

    Auto Loan: $22,012.95

    Total Debt: $25,621.97

    Like 6
    • That's awesome Gator_Gal !! I hope you smash it.

      Like 1
    • Gator_Gal CONGRATS!!!!

      Like 2
    • Gator_Gal I wanna be like you someday!

      Like 2
      • Gator_Gal
      • gator_gal25
      • 5 mths ago
      • 1
      • Reported - view

      Sky Blue Wizard You are too kind! I'm sure you're killing it!!

      Like 1
    • Congratulations, Gator_Gal ! 🎉 You've got this. 

      Like
    • Gator_Gal Excellent!! Let that snowball roll... :)

      Like
  • Updating early as I just received confirmation from the bank that my final personal loan payment was received and the account has been closed. Now that it is paid off (3 months early thanks to YNAB) I can snowball that debt.

    I'm sending a small amount to my car loan because their payment portal had a freak out when I was changing my bank details coz my normal fortnightly payment is slightly below half the monthly payment and as a computer it can't see that will smooth out during 3 fortnight months. It's frustrating but means that I will pay this loan off a month sooner so will save some interest I guess. The original plan was to only pay the minimum on that loan as it has a really good interest rate but YNAB is all about rolling with the punches.

    My main focus now is paying off the CC. I'm going to wait a month or so for the personal loan closing can make it to my credit report and then shop around for an interest free balance transfer so I can save $100/month interest.

    Like 5
    • Trainee Researcher That's all super good news!!!

      Like
    • Trainee Researcher Yesss! That confirmation is a sweet one. Congratulations on paying it off, and closing the account.

      Like
    • Trainee Researcher Excellent!! Let that snowball roll... :)

      Like
  • March and April (combined) Check in:

    Loan: $620.81 Paid off in Apr! 🥳

    CC1:  $148 paid 

    CC2: $100.47 paid

    CC3: $502 paid

     

    May Check in:

    Now I'm just focusing on killing some of this credit card debt. I still have a mortgage, car loan, and another personal loan that I'm going to focus more on next year.

    CC1: Paid $389  left $437.10  I'm on track to pay this off in August!

    CC2: Paid $124  left $1485.18

    CC3: Paid $296.12  left $9414.53

    I'm adding in interest and new expenses that I didn't have money to cover into the form to give a more accurate view of how much I still have to go.  The virus really messed some things up and pushed some pay-off dates back.  I hope everyone is doing well!

    Like 4
    • Michelle D. Congrats on paying off that loan!!
      The virus has certainly messed up a lot of things for a lot of people. Glad to see you're still trucking and able to continue to move forward, even if you had to make adjustments.

      Like 2
      • Michelle
      • No drama llama
      • Salmon_Tiger.7
      • 5 mths ago
      • 1
      • Reported - view

      farfromtheusual 

      Thank you!  I'm also trying to fund True Expenses and put more money into Immediate Obligations.

      For a long time all gas and groceries were bought on credit.  I now have my gas category funded, but groceries is still lagging.  The Summer brings a lot more True Expenses as my car registration is due, I need to decide if I still want Amazon Prime, and bug bill is also due (important for living in FL).

      If this virus has done one thing, it's really put a stop to my eating out. But, wow, is that grocery budget ballooning. 😶

      Like 1
    • Michelle D. I hear ya on that one, I've had to add extra funds to the grocery category as well. That's a bit of a strain on the budget since my BF usually pays for food out, and I usually pay for the groceries. He's getting the benefit and I'm taking the hit! This is where thrifty meals and smart grocery management pay off. I'm still working on all that...

      Like 2
    • Michelle D. When setting 2020 goals... I don't think any of us anticipated a global pandemic! Adjusting to what works for your new normal is exactly what you want to do. I've done it too!

      Like 2
      • Michelle
      • No drama llama
      • Salmon_Tiger.7
      • 4 mths ago
      • 1
      • Reported - view

      Michelle D. 

      June Check In:

      CC1: Paid $209.63, added $178.22 in expenses and interest, left $432.69   Still on track to pay this off in August!

      CC2: Paid $128, added $526.89 in expenses and interest (vet bills, ugh), left $1818.81 undebt.it says I can pay this off by the end of the year and that's what I'm aiming for.

      CC3: Paid $239.75, added $682.35 in expenses and interest, left $9688.03 Undebt.it gives me a date of Feb 2022 to pay off. I'm hoping to beat that.

      I still use the cards on a regular basis and some of the charges are funded while other charges aren't. I have a whole spreadsheet to keep track of it.  There's no real easy way to track old debt and new credit card float.  Once I have the old debt paid off, then each card will be paid off every month. I'm just trying to get to level ground here.

      Like 1
    • Michelle D. I feel your pain, I was in the same boat for a VERY long time. (Like years of time...)

      I have done a few things over the years to make it easier to keep track of what is actual debt, and what is current stuff, so here's a few tid bits that I've learned - feel free to completely disregard since this is totally unsolicited advice :)
      The first was to take advantage of zero percent balance transfer promotions as often as I could. Even if it meant opening another card, that would give me the breathing room I needed to work on paying things down, and zero out a card so that it was "empty". In some cases I was even able to consolidate the debt from more than one card into one promotion. This also served to cut the interest out so that what I was paying was going 100% towards the debt, so the debt stopped costing me money.

      The second thing I did was for the cards that I just had to use while I was carrying debt I changed the way I tracked it in the budget so that I could separate out what was debt vs what was spending. So I made 2 categories that look something like this:

      Visa Purchases - 18th

      Visa Debt - 18th /$61.00

      So the first category is where I put all of the purchases that I make. The second category is where I apply payments towards the old debt that I had been carrying. I have the due date, and the amount that I want to pay per month in order to pay it off before the promotional period ends. I have a card like this that I use and have a promotional balance on because the 0% interest was too good to pass up, AND it gives me 5% cash back on purchases at the store the card is from. I can't turn that down.

      So yeah, I feel your pain in a major way, and sometimes you gotta get creative to figure out how to manage it so that it doesn't manage you! Feel free to shoot me a message if you want to chat about it. I've been in your shoes, and have clawed my way out so slowly, but always upward, even if there were some bumps in the road along the way.

      Like
      • Michelle
      • No drama llama
      • Salmon_Tiger.7
      • 4 mths ago
      • 1
      • Reported - view

      farfromtheusual I get what you're saying and that makes sense. My brain just wants to see the big picture though so it's hard to break something like this out without getting more confused.  Currently, once I pay off one credit card, all purchases that are already funded will go to on that card and get paid off each month.  Then I can focus on the other two credit cards without adding more charges to them. I've been taking chunks off my snowball to fund my true expenses, but there's only so much money to go around, so the float will continue on for a bit at least. I'm beginning to get the handle of funding true expenses though.  This past month saw a lot of stuff sneak up on me, but I still had the wherewithal to pay for half of it. So that's a plus! 

      And since I know that I have some big expenses coming up in Jan and Feb, I'm already funding them. 👍

      Thanks for the help! 🙂

      Like 1
    • Michelle D.  Oh yeah, I know the feeling. It is really hard to juggle it when you don't have a "free" card that you can pay OFF every month. That makes it SO much easier when you're able to get to that level. There were times in my life where it was much more worth it to take the "hit" on my credit report and open a new card in order to get a balance transfer (both to eliminate the interest, and to "free" up a card again).

      And YES, funding true expenses is a BIG part of not taking on the new debt. It's way better to actually fund what you need (even if you splurge sometimes) than pay down the debt and leave yourself so strapped you can't make it to the next pay day. What revolutionized my ability to keep from over spending categories was using the reports to examine exactly what my averages really were. Once I did that, I was able to fund them much more appropriately, which stopped the WAMing all the time, and kept me from over spending. THAT enabled me to get a better handle on keeping the debt paid, and then a couple windfalls happened and now I'm really pushing ahead (and making extra payments on my truck loan which I never thought would be possible).
      Stick with it! You'll get there!

      Like 2
      • Michelle
      • No drama llama
      • Salmon_Tiger.7
      • 4 mths ago
      • 1
      • Reported - view

      farfromtheusual Thank you!  😄

      This year has been far from normal, but I can already see the trends in my spending.  It takes time, but I'm already feeling like I'm in a slightly better position than I was at the beginning of the year.

      Like 1
    • Michelle D. Good!! And you're totally right about far from normal, it's even outside my usual 'far from the usual' 😂

      Like 1
      • MXMOM
      • MXMOM
      • 3 mths ago
      • 3
      • Reported - view

      Michelle D. we have a high rewards card that we use for day to day expenses. YNAB handles managing that for us very well. Plus the cash back pays for Christmas. The other cards get bounced from Card to card to take advantage of 0% promos. I don’t mix spending and balance owing cards. Too confusing for me. 

      Like 3
  • Just paying off my mortgage and smaller home loan as usual. 873€ paid off (principle + interest).

    Like 3
  • June update. Unfortunately we had to cancel our trip to France for June and July. But on the bright side we were refunded for airfare that was still riding on a credit card (booked before becoming a YNAB user). So including that refund, this month we've reduced principal by $3,418.20 and passed 50% of our stated goal for 2020!

    Like 5
    • Turquoise Vacuum WAHOO!! That's a silver lining to losing the vacation at least! Now you have the opportunity to do it without riding the float the next time!

      Like 1
    • farfromtheusual Absolutely. I have to say, I really LOVE YNAB. I wish I had found it years ago. When I got my annual bonus in March I funded a vacation bucket, and we won't ever book unfunded/underfunded again. It is such a simple system and I nearly instantly felt at ease, relieved from the stress of timing payments versus paydays. I'll be sharing these ideas (and probably the software) with my daughter as she gets older (she's only 6 now).

      Like 2
    • Turquoise Vacuum I agree!!
      You might do a forum search, I've seen other posts where people have discussed introducing it to kids who are very young, so 6 might not even been too small to start. You might find some ideas that help to begin to have the conversation so she won't be in your shoes. ❤️

      Like
    • farfromtheusual Yes, and in case there are others interested, YNAB started doing a video series about money for kids. They can be found in the YNAB site and in their YouTube channel.

      Like 1
  • (late) May check-in: paid off $2,554.53, thanks to a larger than expected tax return which allowed me to cover my budget needs, and insurance reimbursements that I put towards the debt. I now have the balance on one CC paid off (it's an Amazon card, so I'm still charging it, but now I make sure I can pay it in full every month!!!), and have $6,176.90 to go on the remaining card.

     

    Thanks to the pandemic my transportation costs, etc are WAY down, so I'm hoping I can pay that off by the end of the year! And I can't say what a relief it is to be able to be confident that with YNAB I *actually have money in my bank account* and I'm not going to be caught short by emergencies. It feels so good to finally get back on track!

    Like 4
    • Salmon Motherboard That's all really good news!!!

      Like
    • Salmon Motherboard One down and one left to go - nice job! 😁

      Like
  • June Check-in: Paid off $853 extra for this month. So tempting to pay off more, but still trying to build up a nice, healthy savings right now. 

    I'm at 39% of my goal, which isn't terrible considering there's a pandemic and recession going on at the moment. Feeling very lucky to still have a job. 

    Like 5
    • MoneyMonster This year has given us a number of reasons to roll with the punches. With the state of the world right now, Any progress is Great progress! Good going! 😄

      Like
  • June Check-in:  Squashed $1300 toward my debts, which included 1 pay-off and that always feels good! (spreadsheet says I'm almost 62% to goal)!  Woo hoo!!!

    1) $1100 to 0% interest credit card #1 paid off

    2) $100 to 0% interest credit card #2 ($2400 to go)

    3) $100 to Parent Plus Loan (currently also not accruing interest)

    *Was also able to put $3000 in my Roth IRA (via Roth conversion) in the last month ;)

    I had originally planned to max this out to the $6000 which could still happen by end of year, but also needing to add to what I call my "Buffer Account" which is expected but variable expenses (car maintenance, vet, medical, home maintenance, gift giving, etc.).  A huge incentive for me to get the debt gone is to be able to fully fund this on a monthly basis.  I feel pretty good about doing a little bit of all my goals-some to debt, some to savings, some to buffer for true expenses. 

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  • Hey Guys!

    Checking in for June: I paid off a total of $2,500 towards debt this month.. In doing so, I paid off my last CC and an put an extra $300 toward my personal loan. Now I can focus solely on paying off my personal and car loans by the end of this year! I am so happy to finally be CC debt free having paid off about $20,000 in the past year. I know I have more work to do but I am happy with where I am!

    Like 7
    • Violet Drill Congrats!! Those are some pretty big steps!

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