August 23, 2014 by The Perfectly Imperfect One
So here is a little update on our debt reduction. We have been going strong since the beginning of the year. So far, we have paid off all credit card debt and the last vehicle we owed on. We are moving right along with student loan number one.
We have been using and following our meal planning really well, and it has helped us to keep on track. It has also eliminated a lot of little arguments about what is for dinner, so that has been great. Meal planning really does save you money!
We did use a bit of extra money to go have fun a little over the summer. We went to a local theme park with family, and boy did we need it! It is hard to take every single penny you have and pay off debt with it. It gets stressful, and it makes you feel like you aren’t doing anything with your money worth while and that just sucks the life out of you! And the fun!
We also decided to use some extra money (debt pay down money) to buy ourselves some new phones. Sadly, I have to say we only paid for one outright, and added the other to the bill, which will increase our monthly bill by $25, but we will pay that off way before the 2 year deal they gave us.
We have also used our emergency fund a bit, even though we don’t have it all the way full yet. We had a wind storm a while back and had to pay to get a branch cut from a tree in our back yard, not much, but we couldn’t finish cutting it down and hauling it away ourselves.
We also had to take our cat in for surgery due to a gum/bone infection in his mouth. He had to have 8 teeth pulled, he only has 2 left, and he is still getting used to that.
All in all, we still feel like we are making HUGE strides towards eliminating our debt. After all, we are credit card and car loan free! And boy does that feel great!
How are you doing with your debt reduction? Do you have any new ideas to help others? Have you had any set backs? How are you doing since those setbacks?