live simply to pay off my debt. I have gotten lazy with the cash envelopes, and while I haven’t bounced anything in the bank I am snowballing less than I initially committed to. I think part of this stems from an unexpected source: my husbands beating cancer. Weird I know! But we seem to have entered a honey moon phase of wanting to live large… going out to eat, tackling home improvement projects, etc. It’s good to appreciate ourselves and move forward now, but we need to get back on track. We sat down and spoke about it this morning as we sipped coffee on the deck, appreciating the gorgeous weather we were gifted today. It was a free moment of beauty and connectedness, and it really hammered in that we can be happy and alive without deviating from our debt reduction goals.
So here are our Jan-April monetary goals, which we have agreed to hold one another accountable to. I feel that publishing them to the group makes them more concrete! So my subsequent posts should update you on our progress.
– With January 30 paychecks, pay $3,000 toward mortgage. We have fallen one payment behind last month when husband was screwed over by an out of state bondsman who didn’t pay him for the contracted work, so this will put us back on track again. Not only did we lose the promised pay, but also the reimbursement of expenses of gas, time, etc to complete the job agreed upon… awful blow! (note to ourselves, no more out of state work with unknown/unrecommended clients. Costs to fly out to sue outweigh the initial checks most time… and they know this!).
– Also with Jan 30 paycheck, pay off remaining $700 on other capitalone card and close.
– Also with Jan 30 paycheck, catch up (where applicable) and/or make minimum payments on debts: 2 student loans, Discover, Target, Paypal, Amazon, Wells Fargo auto, credit union line of credit, wells fargo line of credit, helzberg card
– Only item on shopping list: dog food! Why only dog food? We have all the basics we need, and will be taking more advantage to the biggest perk of my job catering – free food from work. Will be bringing home meals, so no human food gocery shopping needed. Also fridge and pantry are fairly stocked for now.
– Fill cash spending envelopes next. Any extra to be budgeted for snowballs, to be thrown in DR recommended fashion from smallest debt to largest debt.
– ToDo: File tax returns. Use return money to pay off target credit card in full, and close account.
– When Tanda money is received, combine these funds with paycheck bonus to pay off auto loan completely and reduce insurance to liability only.
– Calculate monthly savings on this move (usual auto payment and insurance payment minus the lower insurance payment), and spend this exact money to kill off discover debt in next 6 months.