Continued Progress

We continue to make small progress on our debt. The Husband had several hours of overtime on his last check, and will have as many, if not more, on his next check, due to a big project coming up at work, so we were able to send a little extra money towards debt.

We took some of his overtime and used it to replace some of the savings we had to use last month for our credit card debt. We didn’t get it all paid back, but we were able to make a good dent. With his next paycheck, which also has a lot of overtime, we are paying back another $300 towards our savings and then will have paid back everything we “borrowed” from savings last month to make sure our credit card balance didn’t increase. We will still be under where I feel comfortable for savings, but will continue to add money to our savings while paying off debt. We will get there. I like to keep $10,000 in our savings account as real emergencies happen. Being that we have kids, own two cars, and a house, we know emergencies will pop up and we want to be able to pay for them "stress free".

Some of his overtime this month is eliminating a shortfall we had for new tires for The Husband’s car. We only have about $300 in our Car Repair envelope and the total cost for his new tires will be $390. I’m so happy he has the overtime to cover the difference so that we can actually pay for the tires right away.

We are also paying our normal amounts towards our debt and the rest of the overtime money is going towards debt, too.

This should be a good month for debt payoff and I’m excited to see how the numbers fall out.

I joined another blogs, Six Figures Under, debt payoff challenge so I’m keeping better track of my records than I ever have.  Each month we will report our total debt payoff, total investments, and total saved towards our financial goals. I wasn’t too happy with my numbers last month but I think my next report will be way better!