I’ve Paid For This Twice Already…

Tell All Tuesday - February Wrapup

It is already March, yikes! Time is just flying by. Because it is March, this Tell All Tuesday will be more of a February wrapup than a weekly report. Not much has changed this week as far as the overall debt front, anyway, so it makes more sense to do a monthly review today.

This month, the difference between our income and our expenses was a positive $394.32. That included moving $921.87 to savings, which brought our emergency fund back up to the $1000 level, as well as receiving our tax return, and paying off both our credit card and the $800 remaining on our car repair.

Of that $394.32, $185 is carried over in our budget for irregular expenses (car repairs, annual expenses) and $100.00 is reserved to purchase some items we need for house maintenance (mulch, a fertilizer spreader, a drill), which leaves $109.32 as our February surplus.

I’m really excited that even in a month where we made some big payments, we managed to have a surplus. That $109.32 is earmarked to go towards the student loan payoff and will be added to the $200.78 already in the student loan payoff account. With the $200 from our budget from our debt snowball assigned to extra student loan payments, the total is slightly over the $500 target for extra loan payments ($510.10) and so will be paid to the student loan as an extra payment this month once my spouse gets paid on Friday. First student loan extra payment - $510.10 this week! Hurrah!

Our emergency fund is back to $1000, and we’re about to make an extra student loan payment to principal. Life feels back on track as far as debt reduction is concerned. Future snowflakes this month will go to our emergency fund to save for my wisdom teeth removal ($150/month until September) and then the student loan payoff account to start collecting the next $500. Next week the NCN Chart % debt paid off will jump up again, and I can’t wait. According to my rough calculations, the paid percentage should jump up into the 30% range. Excellent.

If you enjoyed this post, make sure you subscribe to my RSS feed!