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February 2016 Debt Repayment

February 26, 2016
AUTHOR: Emilie
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Reading Time: 2 minutes

So here is how I started the month.

ECSI (College Debt): 8686.00
Upstart (Starter-life Debt): 5720.00

Credit Cards
Southwest (Chase): 4533.72
Amazon (Chase): 1315.34
Discover: 737.63
Gold Delta Skymiles (AmEx): 233.49
Starwood Preferred Guest (AmEx): NONE

Combined Debt: 21,226.18 

And here’s all the progress I made.

ECSI (College Debt): 8686.00 (0%)
Upstart (Starter-life Debt): 5430.23 (-5.0%)

Credit Cards
Southwest (Chase): 4404.17 (-2.9%)
Amazon (Chase): 1845.74 (40%)
Discover: 446.85 (-39.4%)
Gold Delta Skymiles (AmEx): NONE (-100%)
Starwood Preferred Guest (AmEx): NONE

Combined Debt: 20812.99 (-413.19 or 1.9%)

 photo February Debt_zpssiecdvwp.jpg
Ugh, so where to begin really. This month kind of was really, really expensive.

That DSLR I bought myself hit my Amazon credit card, then I bought Casey a bed (It was a surprise Valentine’s Day Present!), I had to mail some packages ($100 worth of packages to be exact), and UGH. This month was so expensive. I went to Georgia and South Carolina and it was great, but

As promised, though, I was able to pay that AmEx in full. Now I need to get it OFF my Lyft account, so I don’t mistakenly spend on it again! Now, one thing that you’ll notice in the next month is that I’m going to have some balances shift around. Discover offered me 9 months interest free on if I did a balance transfer with a pretty great interest rate, so I moved money from my Amazon card to this Discover program. What that means is that I’m going to start paying that Amazon back as my debt snowball before my Discover! My Amazon card has the highest interest rate of cards that I currently have so I think this is the right financial move for me. By making it a smaller amount, it’ll feel more attainable too!

I canceled my flight to Georgia for March. I was there for two weeks this month and we have three weeks planned for April, so I’m going to try to save aggressively during this month so that I end up having money for April and everything doesn’t have to take a hit.

Also, my paychecks took a hit. My 401K contributions started in February and even though I’m not saving a ton, I am saving enough where I do feel a difference in my paychecks and have to plan about how to adjust for that in the budget.

It’s crazy to think that I started not that long ago with over 22K in debt and now I’m at the 20K mark! I’ve added a widget to the sidebar so that you can visually follow along with my progress. It is so cool to watch that grow!

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