Update #8 – March 2017

People.  This month was CA-RAZY!!  I can’t even begin to express to you how excited Rachel and I both are to share this update!  God is so good to us, and His blessings seem to be coming out of the woodwork.  I’m not even going to say anything else, let’s just get to it!

The Numbers

January 2016 (Start) February 2017 March 2017
Car Loan $4,685.88  $1,532.86 PAID OFF!!
Discover Loan $5,511.82  $3,409.11 $2,245.85
Discover Card $7,939.49  $4,636.80 $4,602.41
K Student Loans $14,058.10  $12,409.88 $12,273.34
R Student Loans $47,879.41  $46,359.50 $46,112.40
Total $80,074.70 $68,348.15 $65,234.00

Total change:

$14,840.70 paid off since 1/1/2016

$4,923.09 paid off in 2017

$3,114.15 paid off this month

The Artwork

I’ve given up on Mint. Here’s a new, correct, pretty graph! No more annoying drop in February 2016, and no more trying to get the accounts to sync up properly!

The Story

That’s right, we paid off over $3,000 this month!  On our salaries, that’s a HUGE deal.  In case you missed the last update, we kind of cheated a little bit.  We were able to make so much progress because of a windfall in the form of a hospital bill being less than 5% of what we thought it was going to be.  It feels so good to finally be on the next line of our snowball!  To know that we will never have a car payment again is so freeing!  I don’t know that we’ll be able to keep up this level of intensity every month, but we’ll take it when we can get it, haha.

16 thoughts on “Update #8 – March 2017

    1. Thanks! I have this image in my head of the people at Discover looking at my account history going, “yep, minimum payment, minimum payment, minim– uh-oh. He’s paying it off!” I’m sure I’ll being getting some “personalized offers” in the mail soon!

  1. Great progress!! Little unexpected windfalls are the best, smart to apply to debt, most people don’t. And you’re right about personalized offers…I paid off 2 cards in early March and have already started receiving the “you’re pre-qualified for…!!!” notices and phone calls!!

    1. I just got one from my Amex card, which we paid off right before the official start of this little project, offering zero percent interest for 6 months. I don’t have the heart to tell them I’ve already been getting zero percent by not using their card, haha!

  2. Awesome work!!! I really love how nicely everything is tabled and graphed. I always get so motivated and encouraged seeing others succeeding at paying off their debt snow ball. You’re rockin’ it, keep up the great work!

    1. Thanks, Rita! It’s super nerdy, but I love playing around in Excel and showing data in different ways 🤓 and the encouragement is what we’re going for, so I’m glad we can use our story to motivate you in yours!!

    1. Thanks for the encouragement, Magan! That’s exactly why I’m doing this, to show others that it’s possible to live debt-free, so I’m glad I’m achieving that goal 😊

  3. Wow you are killing it. $15k since the start of the year. You are crushing it and I bet that is an awesome feeling paying off that car loan!!! I’m sure you can’t wait to push those payments into something new 🙂

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