$23k Debt-Free

April 2016: Debt-Free Break Down

Loan: $Total debt – $Monthly payment = $Total balance

Second Credit card: $1,089 – $74 = $1,015

Third Credit card: $587 – $0 = $587

Personal Loan: $4,099.34 – $332.77 = $3,757.57

Credit Card: $10,058.76 – $117.00 = $9,941.76

Student Loan: $10,621.02 – $111.18 = $10,509.84

Total debt balance = $25,811.17

All bills were paid in advance this month because it is tax season and we had to make a quick decision due to Joel’s job calling him for a “pineapple run” job. April debt-free post is being posted sooner than usual. I also reorganize the list in the order of which they will be paid first. I cannot wait until we can start doing the bills with the “snowball effect” again. I will try to do a separate post on this because it is what helped us pay off one student loan and 2 other loans awhile back 🙂

This month was all about compromising, strategy, and sacrifices. Our debt balance increased by $4.5k because we had two days to pay our tax and we were cutting it short. We decided to use one of our credit card with the highest credit limit just making it 50% of the limit so we’re still “a little” safe. Then decided to use one of my card to purchase a round trip ticket to Hawaii.

We decided to compromise our workout essentials such as protein powder and preworkout. The deal is, we will be on a tighter budget when I go to Hawaii and squeezing the gym in, but we might not be able to purchase our usual workout supplements. I’m totally fine about it since I will be focus more on cardio moves for the duration of my stay there since I mostly skip cardio for the past 3 months.

We had to make a fast decision about how we were going to handle our payment for 2015 tax. We agreed on the strategy to use our higher credit limit card to pay it in full. The second part was, using the federal tax return we will receive and use it to pay off the smaller credit card debt (Second Credit card) because the interest rate on it is higher than the loan and credit debt from our NFCU. It is better to pay the interest rate from NFCU since the rates are lower.

Along with the strategy of paying the “Second Credit Card”in full, we rang up about $600 on our other credit card under the same company for a round trip to Hawaii. This is where the sacrifice came in.

Joel and I jump at any amount of time we can spend together because his career really does take away months away from us. Our relationship is always a work in progress and we’re at a better place now, and we make sacrifices everyday. This month, we sacrificed increasing our debt (not an impulse splurge), and tighten our budget just a little than usual just to be home with him.

We did good for two months not spending money on unnecessary “wants.” I’m also proud of Joel for budgeting so well without me being there constantly yapping about “save money here, don’t buy that now, this and that” haha. If you could ask him, he would tell you the same thing haha.



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