Hi everyone, glad you’re here. If you’re new, I update with my financial progress at the end of every month to. I track the amount of debt that I have and how much I paid over the course of the month. I’ve also started a to add progress on my health related goals for the year.
Last month, I finally realized that I needed to add credit cards back into the review. This disappoints me heavily, but unfortunately I havent been able to zero the balance out for 4 months (and just thinking about that makes me realize that it’s pretty crazy how they just stick around). I’ve been pretty good with my spending this month (though I did get the last of my plane tickets), so I should have a pretty good amount to toss the way of my card.
Credit Card
Chase British Air Card $2,244 – While carrying debt on this card is no good, at least I got the mileage bonus for it. I dont know how big of a payment that I’ll be able to make on this, but it should be pretty sizeable (hopefully more than 50% of the total balance). I’m still waiting on travel reimbursement checks from my work travel, so that’ll be added to the total as well.
Student Loans
I didnt make any extra progress here, but I just got an email saying they are lowering my payment on my smaller balance student loan to $50 per month from $80. Looks like I’ll have to send in extra payments.
Direct Loan $2,053 ($269) – The focus on this has been put on hold for now. It should resume sometime in the fall.
Great Lakes Loan $11,730 ($93) Just sent my regular minimum payment to this loan. I’m working on this one as well, but it will probably be the last debt I pay off.
Truck Loan
This is for my vehicle. I had already started trying to become debt free when I bought this, so I was quite torn as to wether or not to take on new debt while I was trying to eliminate other debt. If you want to read more about it, check here, here and here. Tough decision, but it was in-line with my future goals, and I think I still made the right choice.
Ford Credit: $15,960, ($282): I’ve just been making regular payments to this, but I’m pretty excited to get below the 16k mark. I was going to try to pay off this by the end of 2011, but my priorities have shifted and I’ve had other obligations.
Health Goals
I’ve also decided to track my health goals for the year. I went to 5-6 days per week, and I really was doing good at the first of the month but once the rodeo started, I totally fell off the wagon (though I do a lot of physical labor at the rodeo, i’m not counting it).
Week of July 3 27: 6 Days
Week of July 10: 5 Days
Week of July 17: 2 Days
Week of July 24: 0 Days
Goal Visits: 20
Total Visits: 13
This month was pretty rough, both in terms of finances, health, and just a general balance in life. I booked all of my flights to the East Coast for the bachelor party and wedding, went to Las Vegas for a weekend, did a triathlon, and went to a wedding in Iowa. It was a crazy month, and I didnt get much exercise in or time to myself (In fact, the only weekend I was in town, I had a triathlon and a day of work to do). Hopefully I can change that in August as the weekdays wont be too crazy – though I’ll still have 3 out of state travel weekends. Making sure that I make time for the things I care about and enjoy will be key, but it should be good. One of my trips will be purely relaxation in untouched and unfrequented wilderness, so that should be refreshing.
Good to know that you are improving on managing debts
Thanks sb, Im working on it
You did have a crazy busy month. It is hard to maintain an exercise regimen when you are all over the place, but you did do a triathlon, that’s great in itself.
It really is hard to keep exercising when so much stuff is going on, but even more so when the habit is new.
Working out while traveling is nearly impossible. I imagine you’re exhausted at the end of each day. Do you set a schedule or just mentally know that you should be doing something active consistently? Marking it on my calendar has helped me!
I try to set a mental schedule – but it doesnt always work. Im usually exhausted at the end of days traveling, but lately it has been to hot when I’m finished to run anyway, so I relax for a bit then go run. It’s worked out well so far.
Are you planning to pay off the credit card debt before paying down the truck loan? That seems to be a better way to go.
I fell off the exercise wagon too because we all got sick. 🙁 I’m starting back again this week and hopefully I can keep it up.
I do plan on paying off the credit card before I pay off the car loan – the credit card has moved to priority #1 (again)….sigh.
Be very careful in reviewing why they are lowering your payment.
https://www.myjourneytomillions.com/articles/helping-out-fellow-personal-finance-blogger-understand-her-student-loans/
Thanks evan. I have a feeling they are just trying to get the most interest out of me.
Nice progress. Good for you for setting goals to keep you accountable.
You’re making good progress. Those out of town weddings and trips can really add up. But if you’re enjoying yourself and paying down debt, they’re worth it!
I had a tough month too, but I am pretty comforted by the fact that it’s still progress right? I figure even if I shave $1 off my debt for the month it’s better than adding to the debt. Anyway, good luck. Will check in for the next one.
Agreed – Still progress, and I’m not going backwards. WHile this is still OK news, obviously i’d rather have it go down by a very large number.