My Debt Blog

Over the past few months we had the rare opportunity of actually having some money in hand to get things done. Normally we could only pay a bit extra on our debt, partly due to my wife not working. When I got my bonus in March, and then our tax refund in April, we had quite a bit of money in our hands. Sure we’re in six figures worth of debt, so paying it off smallest to largest helps climb the mountain.

During March and April it was very exciting to make payments of several hundred to over 1k and pay off credit cards. When I say exciting in my head I’m thinking what else I could do with the money. Quickly, I click the button and the confirmation screen that a payment was made is a sigh of relief. We paid off 7 cards in two months, who does that?

A portion of the money was used to buy a new TV. Sure this isn’t something that was truly necessary, it was something we have been wanting for quite some time. I wasn’t willing to go increase our debt just to have something. It’s amazing to look at my living room and actually own everything. I’m trying to figure out what I can do with the old TV.

The stimulus check came this month and half of it will be held over to July for our long scheduled vacation. The remaining half has been or will be spent within the month. I had a car repair done, will need to have some dental work done, and the EF needs to be back to the 1k mark. Car insurance is another expense that is going to be looming here this summer too, so we’re preparing for that.

I cannot explain how good it feels to reduce our debt and have an EF. In the past when a problem would come along, we would throw the credit card down to make it go away. We’re still paying for those past problems and it’s important to be prepared for whatever could happen in the future.

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