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debt free journey

January 2017 Debt Repayment Recap

Happy first DRR of 2017! I was kinda sad about this month, because I’d been all fired up about paying off everything in the world, but then life happened. Life I probably should have prepared for last month instead of throwing my entire accident settlement at my debt, but whatever. Here’s something interesting. I compared these numbers to my January 2016 debt repayment recap, and I’ve dropped my car loan by 4.21%, my credit card by 60.67% and my overall debt by 9.38%. The general trend is down.

December 30, 2016
Car Loan: $17,205.22
Credit Card Debt: $320.64
Total: $17,525.86

January 30, 2017
Car Loan: $16,894.50 (-1.8%)
Credit Card Debt: $699.16(+118.05%)
Total: 17,593.66 (+.38%)

My credit card debt went up, and here’s why. Just like last year, when my credit card debt mysteriously shot up in the month of January, I made an impulsive decision to visit Nashville. I’d assumed I’d be able to pay it off quickly, but then we had an unexpected winter storm and I was snowed in, unable to work, for a week. It hurt me, bad.

Unlike last year, though, I’m not going to let this deter me in the long run. Last year I got discouraged by the detour and kind of threw in the towel on the whole thing. Not this year.

You know what was cool, while I was in Nashville, Ernie took me to THE DAVE RAMSEY SHOW. and GUESS WHO I MET!!!!

Me and Dave Ramsey // stephanieorefice.net

Y’all, it was SO COOL. They have a cafe where they GIVE AWAY FREE MOCHAS. and COOKIES! It was awesome. This is the show we were there for:

I did feel ULTRA guilty that I was there because of a credit card, though. Next time that won’t be the case… and maybe the time after that, I can do a debt free scream 😀

For February I’m doing the cash-only system, so I’m hoping that’s going to help free up a bunch of money to get that credit card problem taken care of!

How did y’all do with your financial goals during January?

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December Debt Repayment Recap

December Debt Repayment Recap // stephanieorefice.net

November 28th, 2016

Car Loan: $17,259.55
Credit Card Debt: $2,258.58

Total: $19,518.13 {-6.24%}

December 30th, 2016

Car Loan: $17,205.22 {-.43%}
Credit Card Debt: $320.64 {-85.80%}

Total: $17,525.86 {-10.20%}

 

I feel like I just want to let these numbers speak for themselves but I really can't. A few months ago, I sat and figured out how much I made and how much I owed on things and I felt like I was NEVER GOING TO GET OUT. So I called and cancelled some things (JustFab & Julep) and decided I just needed to work my butt off. and I wish I could say that this was COMPLETELY because of my hard work, but honestly I reached a settlement with my car accident and put that money towards my credit card. I debated whether or not I should save some and spend it on myself but guess what. I spent it on MY FUTURE. 

My car loan didn't go down much because I'd paid half of it in November, so I only had to pay half of it. 

Can I just say that listening to Dave Ramsey is serious motivation. I listen to people scream about being debt free and hear him answer questions and rant about things and it is so encouraging. I'm in the middle of The Total Money Makeover, which I am so excited about finishing because Justen got me the new Rachel Cruze book, Love Your Life Not Theirs for Christmas and I'm excited to read THAT, too. 

I'm just so excited to pay off my credit card. Like… I want to have a no more credit card party. 

I also have been so excited to get paid not so I could have money to spend but so I could have money to pay off more of my credit card and see that number go down. I'm one of those people now, I guess 😀

Cannot wait for 2017 and what it will bring for my financial peace journey! Do you have any financial goals for the year?

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November ’16 Debt Repayment Recap

november16

October 28th, 2016
Car Loan: $17,618.23
Credit Card Debt: $3,199.86

Total Debt: $20,818.09

November 28th, 2016
Car Loan: $17,259.55 {-2.03%}
Credit Card Debt: $2,258.58 {-27.60%}
Total: $19,518.13 {-6.24%}

 

MAN this feels really good. I’ve been trying to be really diligent about taking any extra money (from apps like Ibotta) and putting it towards my debt, even if it’s only $20 – those little amounts add up.

I’ve been listening to a LOT of Dave Ramsey which has helped me keep my eye on the prize. That and coming in here to edit the number and see the number drop and percentage increase. In December I’m going to start using Dave Ramsey’s EveryDollar budgeting app and I’m going to attempt the cash-only system, but with Christmas and a trip to Disneyland it’s a rough month to start with that.

I’m also getting used to a much smaller paycheck and the importance of babysitting/side hustles, etc. It causes me to be more disciplined with my money, and I recently had this huge revelation that a planner is like a budget for your TIME, and I need one of those. Does anyone have any recommendations for a good planner?

Well.

Same time next month, y’all. Keep on keeping on.

 

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Final Friday Finance // Debt Repayment Oct ’16

This is my first official debt repayment recap since I’ve rebooted. I decided to start clean, then my car got totaled and I changed jobs and everything is crazy different, but my desire to (eventually) get out of debt remains the same.

I start on October 5th, 2016 with $21,488.36 in debt, divided up between two things:

Car Loan: $17,815.62
Credit Card Debt: $3,672.74
Total debt: $21,488.36

1016debt-repayment

Here’s what those numbers look like today:

Car Loan: $17,618.23 {-1.1%}
Credit Card Debt: $3,199.86 {-12.87%}

Total Debt: $20,818.09 {-3.11%}

 

I had this total freak out moment recently. I realized that I am in fact working half as much as I was a month ago, which means I am making a significantly smaller amount of money. and I crunched some numbers and realized I’ll be in credit card debt alone until I’m 87. Not quite that long, but you know. So I got down to business canceling subscriptions I always forget to skip, and other monthly payments I just can’t afford to make right now.

This month I received a bunch of random checks from my car accident in September, so I applied them to my debt. I’ve taken on a few extra babysitting gigs and am determined to get this whole mess under control once and for all. I’m back to being excited for these monthly recaps instead of dreading them, which is what it turned into for awhile there.

Y’all, once that Credit Card Debt hits $0 I am going to cry. Just in case you were wondering.

 

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Debt Repayment Recap

I literally just said “Ugh, I do not even want to write this.

Y’all remember how I posted that I had to get a new car? Well I was completely unprepared for that, was off of work and unsure of when I’d be back/get paid again/etc… and it was a quick, slightly impulsive decision. Like it was Friday and I turned in the rental on Saturday.

So I got a car with less miles. The sticker price on the car was way different than what I actually ended up paying because I bought the warranty. I’m that person, and I guess I don’t care. All of this means that things were put on my credit card because I’m an idiot who was scared of using my emergency savings (now, on the other side of it, I think that having your car totaled and being off work totally counts as emergency savings worthy, but I guess I thought differently). and I didn’t have as much of a down payment that I’d hoped for (I didn’t get paid for my car for two weeks)… blah blah blah….

I’m not looking forward to looking at these numbers, like at all. But my finances – coming in and going out – are going to look completely different, and it’s worth it to just start right away. Here we go.

piggy-bank-1446874_1280

Car Loan: $17,815.62
Credit Card Debt: $3,672.74

Total debt: $21,488.36

For half a second, I almost compared it to last month’s. But I’m not going to. Because I didn’t choose to lose my car. I didn’t choose to be off of work. I did make some stupid choices as a result of that, but I personally didn’t go on a $3,000 shopping spree and so I’m just going to not put the numbers side by side and start beating myself up.

I’m walking into a new chapter of life, and that new chapter happens to have a new amount of debt and I’m going to keep on keeping on.

My friend Brittany has been a huge inspiration for me in my debt repayment, and after finally paying off her consumer debt she  posted about tackling her massive (like $125k) student loan debt. I love that Brittany follows the Dave Ramsey plan but also does what works best for her – and it does work, as long as you keep plugging regardless of if you feel like it is or not. I’m excited to see how she works to get her student loans under control, you should join along her journey too 🙂

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August Debt Repayment Reboot Recap

Say that seventeen times fast.

It’s the end of August. Earlier this month I declared a Debt Repayment Reboot, and it’s time to see where I’m at, 23 days later.

August 3, 2016

VS Credit Card: $82.80
SW Credit Card: $3,089.04 
Car Loan: $15,509.22

Total debt: $18,681.06

 

August 26, 2016

VS Credit Card: $0 (-100%)
SW Credit Card: $2864.32 (-7.27%)
Car Loan: 15,136.15 (-2.4%)

Total debt: $18,000.47 (-3.64%)

 

Ohhhhh snap!!! Can I just say that starting up these posts documenting my debt repayment was probably the best decision I could have made for myself? Being aware of my need to pay off debt and remembering that there IS a light at the end of the tunnel is so important.

Other great news: my SW Credit Card was left in a purse I no longer use. I know exactly where it is but have made 0 attempts to get it, which is BRILLIANT – I realize that the money in my bank account is actually the amount of money I have, not some stupid borrowed money that I’m currently paying off at a 16% rate.

I also found a copy of Dave Ramsey’s Financial Peace in the Goodwill Bins for $2, so I’ve been reading that to stay motivated.

and my friend Brittany, who was a HUGE inspiration for me to start thinking about debt repayment, just posted about being consumer-debt free and it came at JUST THE RIGHT TIME for me, because the fire under my butt burns even more intensely now!

I’m really glad to get this ball rolling again, because I want to live life without the soreness of debt-chains holding me down.

No fancy picture today. Just words and facts. We’ll fancy picture it later.

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