I’m sorry I haven’t updated in a few weeks. Between getting sick, having the in-laws in town for the holidays, and just being busy with work and Christmas in general, I’ve had very little time to sit down and formulate a blog post.
Our finances are actually starting to look up. My husband was reimbursed for some expenses of about $750. We put $550 toward our credit card with the largest balance. Once my husband gets paid on Thursday, we should be able to throw an additional $400 at that credit card as well.
We were going to use the Dave Ramsey method of paying off the smallest debt first, however, my credit card with the largest balance (around $6k before the $550 payment) decided to jump from a 10% interest rate to 24%, so that is now our main focus and we’re hoping to pay that off ASAP, then we’ll focus on the smaller cards.
Also in good news, we have $400 in our emergency fund. We’re very happy about that. I know it’s small, but you have to start somewhere. We’re only contributing about $200 a month to it, but with my husband in the military and with my new job, we’re not worried about one of us being unemployed any time soon. After we get more of our debt paid off, we’ll definitely be beefing that sucker up!
Speaking of the military, my husband leaves next week for a four-month deployment to Qatar. I’m very sad to see him go, but I always save so much money with him away. Not only do we get a boost in his paychecks for us being separated, but my grocery bill and eating out bill goes down drastically whenever he is gone. Instead of my $100 a week on food, I only spend about $50 a week on groceries for myself, not to mention I only have to put gas in one car versus two when he’s here.
I’m going to make a goal post soon. I need to do some math and see how realistic it is going to be to pay off our debt next year, plus take two vacations (one in July to go home and another in the fall for a romantic get-away with the hubby). And I’ll also throw in a few personal goals as well. :)