$23k Debt-Free

February 2017: Debt-Free Break Down

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

Student Loan: $10,071.47 – $10,071.47 = PAID OFF!!!***

Discover Credit Card: $2,196.69 – $55 = $2,141.69

Total debt balance = $2,141.69

It’s officially Tax Season! It was my first time ever filing taxes let alone doing it on my own, by myself *round of applause for big girl panties*. Really though, I was so proud of myself besides the fact that it took me six hours because I couldn’t remember Joel’s 2015-AGI (Thank you to my mother-in-law for the rescue). We did not think that we would receive a refund this year since we paid roughly $4k last year filing in Hawaii. This time, we decided together that we will file in Nevada and viola! A refund! Not a big chunk, but received 90% of what we paid last year and enough to pay off the Discover Credit Card. Joel’s direct deposit and our tax refund came through at the same time so it was a relief. But due to some personal circumstances, we will have to wait until the middle of March to pay off Discover because I need to do an unexpected trip to Hawaii next month.

The main focus this month is the last Student Loan. You have no idea how many times that student loan was brought up in so many arguments throughout the years. Getting rid of it means we no longer have to mention it again. It almost feels so surreal looking at just how we are down to just one small credit card debt. Knowing that when the refund comes through, we will be able to check our Credit Karma and see ZERO balance! I swear, once I finished inputing the infos on TurboTax and the final numbers were calculated and I seen that we were NOT paying this year, a tear rolled off my cheeks followed by me bawling out for about two whole minutes. It was not tears of disappointment that it was a small refund, but because it was more than enough to pay the last debt.

I know, ‘what a cry baby’ but seriously though. Anyone that has or is in our shoes right now struggling with student loan and debt in general is emotionally draining. It is not MY loan, but it affected me all these years so trust me when I say when that balance goes ZERO, I will be right beside my man celebrating with him 🙂

 

How will your 2016 tax affect your financial journey?

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