My Debt Blog

The month of May had some rough patches with having to deal with a car repair. On the bright side we got the stimulus payment to help us roll through the month. After looking at the numbers our debt went down by $600 for May. My retirement contributions are finally picking back up which does help us offset the asset and liability factor when it comes to net worth.

I have debated the idea of stopping my 401k contributions to take that money and pay it directly towards debt. Even though I don’t save a large chunk of my income for retirement yet, it seems like I could get out of debt faster if I stopped this for a year or two, at least until the credit card debt is gone. The credit card debt bugs me because since I’ve paid off all the smaller balances, having the larger ones left makes it feel like I’m not making progress.

Now that we’re in the month of June we have to really watch the spending. I received the dreaded car insurance bill this weekend and we’re going to roll this along with the budget. On top of that I had a dentist appointment this weekend to have a root canal done. Both of these things are about $1500 extra that we have to squeeze into June. Depending on how things go I may need help from the EF to slide into July. It would be much easier to just handle one or the other in a given month, but life doesn’t always happen that way. I’ll see where things stand regarding this later in the month.

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