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Debt Repayment Recap 2.0 – The Beginning

Oh. my. gosh.
Y’all, it feels SO GOOD to be able to start blogging about my Debt Repayment journey again. It’s been a huge theme in my life for the past 2 years, and as we’ve been cash flowing our wedding, aggressively paying off my debt has been on the back burner.

and now I AM MARRIED (omg what) and it’s time to get going on my our debt snowball. There is a LOT that has changed since I first started my journey to get out of debt. I’ve become an avid listener of Dave Ramsey, I’ve spent a lot of time talking about finances with people, and more than ever before I can see the Financial Freedom Finish Line way off in the distance.

There is a LOT that has changed since my very last debt repayment post. I now work for myself. It is crazy and scary but so good. I’m now part of my own family unit. Justen and I both moved out of our parents homes into our own apartment.

Right now I’m going to start with two things: the numbers and the WHY. First, the WHY.

WHY are we making a plan to get out of debt? It’s easy to wander into debt, it’s impossible to wander out. I want to be financially free. One day, I want to own a paid-for house so that we can sleep easier at night because our living arrangements are secure and paid for. Eventually, I want to be millionaires. Not because I want a lot of money, but because I want to work hard and live on less than we make and be in a place to be outrageously generous.

The numbers. They’re a little different than before, because now Justen is a part of this as well. We cash flowed our wedding !!!!!! but we did end up with some balances on our credit cards because of hotels, rental cars, etc. The numbers are all smallish, but still too big for me. They’re listed smallest to largest in true debt snowball fashion.

Debt Repayment 2.0 – November 1, 2017

Rings: $416.39
Disney card: $984.24
Southwest Card: $1,012.89
Justen’s Car: $6,533.46
Stephanie’s Car: $14,820

Total Debt: $23,766.98

That’s it. That’s the snowball. That’s what we need to plow through before we can start saving money to buy a house. Justen and I are figuring out the whole budgeting thing, but as we start to get our feet underneath us I’ll share more details about the money and how we’re snowballing and what that looks like. For now I’m just SO EXCITED to start throwing all the dollars at this debt and getting our head above water.

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April 2017 Savings Update

In March I saved $1,000 towards our wedding. I realized that I’m actually attempting to cashflow TWO things – one is a wedding and the other is a trip to and from Nashville, where I’ll be spending the summer.

April savings update // stephanieorefice.net

April Savings Goals
Starting: $1,250
Goal: $750
Actual save: $850 (113% of my monthly goal completed)
Total Saved since March: $2,150.04 (43% of my overall goal completed) (that .04 is massive amounts of interest being paid by my bank)

May is going to be hard. I’m only working two weeks in May… AND I need to spend some money at the dentist, and I need to make my car payment, and I need to travel to Nashville. As much as this sucks, I may need to pause my savingsΒ for the month in order to fund those things. I’m going to use the extra I paid this month to offset my goal for next month. Instead of a goal of $750 for May, I’m going to work. my. butt. off. to save $600 in addition to the aforementioned expenses.

Wish me luck… I literally have no idea how I’m going to do all of this!…any suggestions?!

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