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November 2016 Debt Repayment

November 11, 2016
AUTHOR: Emilie

I shared a bit on the changing situation of my debt progress at the beginning of November. In case you missed that, you can see it here.

Beginning of November

End  of  November

Change Percent Change

Loans

Car Loan (USAA) 16090.32 16090.32 00 0%
ECSI 8180.38 8180.38 0 0%
Upstart 4002.35 4002.35 0 0%

Credit Cards

Southwest (Chase) 1365.00 1904.00 -539 39.27%
Amazon (Chase) 0 905.11 -905.11 –%
Discover 2274.00 2274.00 00 0%
Combined CCs 3639.00 5083.11 -1444.11 39.68%

Combined Debt

31,912.05  33,356.16 -1,444.11 4.53%

Debt Progress

When I sat down in the beginning of the month to write that reflection post, I recognized that things had gottten hard. I hadn’t been spending willy nilly, but the fact that I had just taken out that car loan had felt very overwhelming to me (and rightfully so) and was something I need to work through. This month, though, was still hard. My mouth was not done costing me more money. Then since I was already screwed, I got in a downward spiral and I bought one Christmas gift for Casey and one for me, each of which were bigger gifts, even though they were only one. It’s a totally destructive thing, right? “Well, I’m already screwed.” I’ve caught myself in this sort of mindset before and been able to snap myself out of it- usually whatever Amazon shopping spree I went on results in a lot of returns & refund requests. That’s not the case or possible this time around, so it is what it is.

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Looking forward to December

I’ve already started planning what it will look like in an effort to not be self-destructive. Casey and I had a long conversation about Christmas. We’re forgoing gifts to get the couch covers I so desperately want and the Christmas decorations (read: tree) that we don’t have. Communication really does make a huge difference.

Because my emergency savings right now is only at $95 (being totally transparent here), I’m going to focus exclusively on that this month. I have $387 in debt repayments that I have to make, that I have, in fact, already scheduled. They are:

  • ECSI – $93
  • Upstart – $188
  • Discover – $47
  • Paypal – $59 (pays this off)

The remaining $813 that I would normally put towards my debt, I am going to direct wholly towards my saving account, leaving me just $82 shy of my goal of $1000 for me to refocus on paying down my debt. I’m going to be starting with my Amazon card with hope of having it paid off by February, with my Southwest card paid off by May, and my Discover card in August.

It’s kind of disappointing that I won’t be credit card debt free by the end of this year, which had been my goal all along. In some ways, I feel like a failure. These are feelings I will need to work through myself. In the mean time, I will refocus on my why and think about strategies to get this stuff taken care of.

Deep breaths, one paycheck at a time.

Current Debt-Free Date: April 2019.

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Emilie is a data engineer by day and lifestyle blogger by night. A Jersey girl at heart, she is currently living in her fifth home in three years, Savannah, GA with her college sweetheart. She’s learned the hard way that home is wherever the Army sends them. She enjoys eating food, cuddling with her dog, and binge watching HGTV.