Well, it was a slim month again, but that’s because I’m keeping some savings back for earnest money in case I find a house. In the meantime, I managed to make a payment of $851 toward the loan. My new balance is $8,861. I hope to make a much bigger payment in December, but in the meantime, let’s celebrate the massive amount of debt I’ve paid off in one year!
This month, the payment cash came from two places.
$551 – Full-time Gig Pay
I managed to save this amount from my paycheck to throw at the loan.
$300 – 2015 IRA Max Out Account
I was trying very hard to do several things at once: max out my IRA, pay off my debt, save for furniture, save for a down payment. I opted to clean out the small amount I had set aside to max out the IRA. I’ll get aggressive with retirement savings as soon as this debt is wiped out.
It’s worth noting that I do this A LOT. I open sub accounts and try to move little bits of money around, when really, adding up the little bits and applying them to the larger goal really makes much more of a difference than the little bits on their own ever would.
Also worth noting: I could have stretched it and paid at least $100 more, but I opted to meet a friend for a weekend getaway. It was totally worth it, since she’s one of my closest friends, and she lives a few hours’ drive away. We met in the middle, in a little town full of shops and restaurants. It was an inexpensive trip, and one we’ve always meant to do.
Oh, and the strange number, $851, came from my attempt to pay the dollars and the cents. That dangling dollar was meant to cover the cents.
For next month, I’m going to get super disciplined. I want to finish the year strong – as strong as I can.