Every Monday I have a pattern, I update my spending trackers (Google Sheet and EveryDollar) and then I open my Google Calendar that has all my bills on it, mark bills that directly pull from my account on my Google Sheet and then pay the ones that I do manually.
This week I sent $159.02 to MyFedLoan, this payment covers 5 individual loans.
I also set up to start this month, my grocery and gas money to automatically transfer from my bills account to my grocery & gas account. Carrying around that much cash scares me, so we have a separate account that holds our grocery and gas money. I also set to automatically transfer the monthly amount for Andria’s school sinking fund. We homeschool so this is the first year I am creating a monthly budget item for her school work for next year.
We also have an account for car repairs. Currently this account will get any gas overages for the month and every transaction we have on our accounts will automatically transfer $1, which keeps this account growing. With gas prices rising for the summer and hubby being a delivery driver, I will probably have to up our gas budget in the future but for now it seems to work for us.
With the Emergency Fund finished I am so excited to finally see our payments to debt increasing. We have been paying minimums but this month we should get to send a sizable payment to our first credit card on the list.
Our current debt sits at:
Credit Card Debt $24,595.15
Student Loan Debt $20,014.72
Car Debt $9,181.98
Total $53,791.85
We also have a mortgage of $95,581.79
Our current plan is to pay off all of our non-mortgage debts, stay in our house for up to another year and save like crazy, and then to buy land and build a house. This plan may change but, for now that is the plan. We are excited to finish this journey. It should take us around 2 years with our income to pay this off. Let’s see what happens!
