November was a month of hurry-up-and-wait. We are still waiting on the hospital bill to come in from R’s ER visit in October. And we thought the waiting room took forever…
|January 2016||November 2016|
|K Student Loans||$14,058.10||$12,816.71|
|R Student Loans||$47,879.41||$46,993.50|
The upside to the hospital taking so long to send us a bill is that the longer they take, the longer we have to save up! We did get a notice from the insurance company that they covered all but $2,000 of the visit cost, so at least we know what we owe. If you follow Dave Ramsey, you’ll know that he recommends a $1,000 emergency fund while you’re getting out of debt, and that’s what we’ve done. If you’ve passed first grade math, you’ll realize that that puts us in a bit of a pickle. There will be a post about how we’re going to handle this soon, once we can work something out with the hospital :). Last month, I mentioned that we had a pile of cash set aside for the bill, but that we were going to use it on R’s car if we hadn’t heard anything in a few days. Well, I overestimated the speed of the billing department, so we went ahead and put an extra $700 towards the car, which felt great. In hindsight, it probably wasn’t the best idea, but it seriously moved the needle. That’s how the snowball method is supposed to work, though, with those giant payments. It keeps your motivation up, and the numbers dwindle super fast when you’re concentrating all your efforts on one debt at a time. That’s the biggest reason why waiting so long for the ER bill to come is such a pain! I’d so much rather just get it taken care of and get back to making progress on these other things. Hopefully by next month, I’ll have better news on that front.