Update #27 – October 2018

Hey!! If you’re new to the site or haven’t been here in some time, you may be wondering what this post is. TL;DR – my wife Rachel and I started our marriage together with over $80,000 worth of debt between us. That got old REAL quick, so we turned to Dave Ramsey’s Total Money Makeover for help getting out of it. If you missed the last monthly update, you can find it here, or you can see all of them from the Updates link on the home page.


The Numbers

Remember when I had declared October as a non-fireworks month?  That it was basically cheating to speculate on what might happen since it was half over when I wrote my last update post?  God reminded me that He’s in control, not me.  This is the first month since we started that we have added to the debt, and it’s really sad to see half the progress that we’ve made this year essentially wiped out in one week.  If you look at the chart, you’ll see a new line: car loan 2.  I’ll be writing a separate post to explain in more detail what happened, but the short version is that my car finally died, the $1,000 emergency fund wasn’t enough to cover a new one for what we needed, and God is still in control.


January 2016 (Start) September 2018 October 2018
Car Loan $4,685.88 PAID OFF!! 03/17
Discover Loan $5,511.82 PAID OFF!! 06/17
Discover Card $7,939.49 PAID OFF!! 10/17
Car Loan 2 $3,500.00
K Student Loans $14,058.10 $9,756.81 $9,599.25
R Student Loans $47,879.41 $38,062.33 $37,796.90
  Loan 1   $1,828.87   $1,784.57
  Loan 2   $2,768.30   $2,722.07
  Loan 3   PAID OFF!! 09/17
  Loan 4    $3,064.98   $3,013.81
  Loan 5   PAID OFF!! 12/17   —
  Loan 6   $30,400.18   $30,276.45
Total $80,074.70 $47,819.14 $50,896.15

Total Change:

$32,255.56 paid off since 1/1/2016
$9,957.61 paid off in 2016
$16,469.25 paid off in 2017
$2,789.99 paid off in 2018

$3,077.01 added this month

The Artwork

Debt Snowball

That bump, tho… 🙁

Payoff Projection

The Road Ahead

I learned my lesson from last month, so I’ll just let November play out however God decides it needs to go for us.  We have switched focus from the student loans to the car loan, so hopefully we can get back to where we were soon.

2 thoughts on “Update #27 – October 2018

  1. Try not to think of it as this year’s progress being wiped out. The positive is that you had an emergency fund you could use for part of the cost. Also the car was going to die, you are in a better place taking on the car loan with the debt you have paid off. Don’t let it get you down.

    1. That is very true, thank you for the reminder. Sometimes it’s hard to remember that when you’re in the middle of these things!

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