February Debt Repayment Journey Recap

It’s been a month, y’all.

We finally got some of our medical bills. Which is great because I just want them gone, and we can’t get rid of them if we don’t have the amount. We decided to pay them off via credit card, and here’s why:

1. Consolidate payments
   Instead of having to pay two extra accounts, the two accounts we’ve been throwing money at will just get a surge in balance.
2. Easier payments
   Because both of the cards are with my primary bank account and my income is almost completely dedicated to debt repayment, I can log into one account and make all of our payments from there.
3. More vision on the numbers
   I check the credit card totals daily, because I often transfer my Poshmark earnings out daily. That means I see our goals every single day, and I try to make payments as often as possible.

It’s mostly a mind game, I guess. What is the most accessible way to pay our debts off faster? is the question I asked, and this was it. We swapped out owing new debt on new accounts for owing MORE debt on familiar ones. At the end of the day, do whatever you need to do to stay motivated and pay things off at an aggressive speed. For those who need to learn how to manage their money, consider getting professional help from WECU Cash Management.

We received $1,851.12 in medical bills this month. UGGGHHHH. We put them on our Disney card to get the reward points (we’re going to Disneyland in May) and then paid them off. Just know that in addition to the debt repayment, we’ve been cash flowing our medical bills. I’m just glad to pay them off and not carry that balance!

We also decided that while we are going to pay my phone off as part of our debt repayment, we’re keeping it out of the snowball for now because we can’t throw extra payments at it – we have to pay it off in full. Once we’re done with the credit cards we’ll start saving for paying that off, but we need to keep up the momentum of $20 payments here and there that result in the number dropping. SO ANYWAY!

Here it is, y’all. Phew. I actually literally cannot wait to no longer be posting these because we’re debt free. One day!

Stephanie’s Phone: 814.99 779.02 {-4.41%}
Southwest Credit Card:  $314.81 0.00 {-100%}
Justen’s Car: $5,987.04 5,619.12 {-6.14%}
Stephanie’s Car: $14,394.65 $14,144.65 {-1.73%}

Total: $21,064.91 $20,542.79 {-2.47%}

2018 Total Payoff: $23,661.40 $20,542.79 {-13.18%} 
We’re 39.93% of the way to our 2018 goal of paying off 33% of our debt!

 

To catch up on the whole Debt Repayment journey, click here.

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