January 2015 Recap Reflections

January 2015 Debt Eradication

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Net Income: $1,991.52

The Numbers…. 

I don’t know how, but we apparently paid down $1422 of debt this month. (Definitely some was due to the credit card payment we made – still waiting on that reimbursement from the items H returned!) We didn’t manage to make any extra student loan debt payments this month because this was the last month we saved for our France trip (coming up in July).

You might notice I’ve changed the Debt Eradication spreadsheet – I’ve updated it to show the credit cards we’re using as well as our Total Debt Decrease from Dec 2013 (when we first started tracking seriously via this blog!).

I have created a new line item in our main Savings Account. This is where we have the proceeds from the sale of our home back in the fall, and it gets 1% interest. This is where we’re putting our money towards Student Loan Debt Eradication. Once it gets to a certain point (we’re going to be putting in $756/month in there from February on), we will send it on to Navient to pay down our student loans. (I’m still working out the details of when/how to send the payments, as well as how much money we want to send at a time.)

We didn’t manage to snowflake much to Student Loan Debt Eradication this month, because of the issue with paying off the credit card before interest started accruing. That should mean that when the reimbursement does come through, we should be able to snowflake at least $300 to the Student Loan Debt Eradication fund!

Additional Money this Month: $110.01 (moved to Student Loan Debt Eradication Fund)

  • $110  – American Express rewards dollars (used them to pay off the balance, then transferred the money we would have used for it to our Student Loan Debt Eradication fund)
  • $10.01 – “Loyalty” dividends from my oldest checking account – woot!

Money Accomplishments This Month:

  • Stayed on budget overall!
  • Net Income: $1991.52 – woohoo! (Of course, this doesn’t all stay as cash – it’s mostly dispersed to our Sinking Fund, Debt Eradication Fund, or to Student Loan debt, etc.)

Money Setbacks This Month:

  • We struggled to keep on budget, but especially with food.
  • We weren’t able to put much extra towards student loan debt this month.

Life Accomplishments this Month:

  • H has arranged for a side hustle (will only bring in $40-$80 a month, but hey – that’s more than $0!)
  • L & I attended a musical (the tickets were a Christmas gift from a friend who went with us) – it was fantastic!
  • H, L, & I attended a circus – the first time any of us had ever been! (The tickets to this were also a Christmas gift.) Good times with family and friends!

What I’m Looking Forward to in February:

  • My birthday (and the money I hope to get with it…. #fingerscrossed)
  • Going out to dinner (and getting a babysitter) for our Valentines Day / my birthday dinner.

February Spoilers: We have come close to finishing our taxes, and we’re barely getting anything back!!! grrrrrrrrrr. Anyone already started on their taxes? I hope you’re getting back more than we are!


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