Debt Repayment Recap #3

Goodbye July. See ya next year. Moving on. Five things about this month’s debt repayment!

ONE // 
This month is awesome in terms of months and debt repayment schedules because there were 3 paychecks, not just 2. In the past, I’ve used an “extra” paycheck to stay consistent with putting $200/paycheck towards my car. But these days I’m wising up. I paid $200 with my first and last paycheck, but the one in the middle I put that $200 towards my dental first payment. I’d texted Ernie that I was pretty certain I could pay that off in 8 months, which would be February 2016 but now I’m determined to pay it off at least by the end of the year, if not sooner. How about next month? Sounds like a good plan to me.

TWO // 
There was a sketch payment on my credit card, and they caught it and so I had to get a new credit card… which I haven’t yet put into my wallet. and I think I’ll keep it that way, because sometimes I forget that the opportunity to spend a couple hundred dollars doesn’t mean it’s a good decision. Still changing my thinking.

THREE // 
Let me be honest and say that I absolutely sucked at the cash-only thing. I think right now I’m spending SO MUCH MONEY and ENERGY on putting a large chunk of money aside to repay my debt, and so I’m not really worried about what I do with the little bit that’s left over. I think that will happen once I get rid of these two smaller debts.

FOUR // 
I drained my savings account (not completely, but to the point where it makes me a liiiiittttlllleeee bit nervous) to help me get rid of my Dental First debt, which is the debt I HATE WITH A FIERY PASSION.

FIVE // 
I decided that I wanted to create longer than a month goals that weren’t “PAY OFF THIS DEBT.” In the Mint app, it shows you how much of your credit you’re using. It says you should keep that down below 30%, so that’s my goal. I started the month at 64% and I’ll start August with that number being 42%. Slowly but surely.

 

Cool. You know, blogging about this has been really helpful and kept me accountable. Plus you guys are really encouraging to me. I recommend that if you’re attempting to pay off your debt, you start blogging about it.

NOW ON TO THE FUN STUFF.

Debt Repayment Recap #3 // July 2015 // stephanieorefice.net

June 30, 2015

Car: $20,074
Dental Credit: $1,368
Credit Card: $1,495

Combined debt of $22,937

 

July 31, 2015

Car: $19,733 (-1.69%)
Dental Credit: $365 (-73.31%)
Credit Card: $1,441 (-3.61%)

Combined debt of $21,539 (-6.09%)

 

Um… I’m sorry WHAT, do you see that I almost killed 75% of my dental credit debt!? I have to be honest about this, though. In addition to a really GREAT decision, I was reallllly careless. With my second paycheck, I accidentally scheduled TWO payments for my dental credit account and one morning I woke up and realized I’d almost exhausted ALL of my paycheck on that. OOPS.

I’m SO incredibly excited that my dental credit is SO CLOSE to being gone.. and then the credit card is not that far behind and then I’m coming for you, car loan.

 

Past posts on Debt Repayment:

Past posts about Finance:

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