So my income tax is done and the verdict was a refund of $739. I played around with the budget a little more and made a payment of $300. So that means that the student loan stands at about $645. At the end of the month I will make a further payment of $160 and I will pay the outstanding amount between my two April pays. It will be a nice feeling to have another student loan paid off and only one more to go.
Since I currently do not have an emergency fund there is something that has come up that will need to be put on my credit card. I don't want to use it but in this case it is necessary and I know that I will be soon working on paying that card off, as well as building up my emergency fund.
It feels nice to have this blog and the accountability it brings. Having this and a plan and seeing the debt number decreasing already makes the burden feel a bit lighter. I understand now why Dave Ramsey encourages people to attack there debt with gazelle like intensity. The faster its gone, the better you feel.
Starting in April my pay will increase a little. I had a small payment of $46 coming off my pay but that ended this month and I will also get a small increase in my pay. My estimates are that it will mean about $30 more a pay which will be put towards the debt repayment. Every little bit helps.
Have a great weekend all!
Little Lamb
Sounds like you off to a great start
ReplyDeletejudy