Tuesday, April 5, 2011

Day 174 - April Update

April 5, 2011 
Day 174 - April Update

The first (give or take) and fifteenth of each month I will update you on the status towards our goal of paying off $60K in one year.

** Check out the Real Time Debt Tracker!!! Keep up to the minute tabs on our debt balance and whether we can pay it off in 365 days! 

Almost at the halfway mark! We are almost halfway through are $60K Project year and I am excited to say we are right on track.  To date, we have paid off $29,795 of our debt - almost exactly half of our goal.

Challenges: Unusual medical bills and travel seem to be our albatross' this year.  Fortunately, most of our medical bills can be paid out of the Health Savings Account but this money is quickly running out.  And on the bright side (I think), we are prepaying our travel for trips that are required in the near future and sending only one of us when possible to keep expenses at a minimum.

Extra $$$: We've got about $10K of extra income coming in over the next few months.  Second jobs, retroactive raises and tax refunds are going to put a HUGE dent in our debt.  Can't wait!!  Our hard work is really paying off.

Additional Cutbacks: Our budget has almost become second nature to us now.  We are down to only buying the bare necessities and have limited our eating out to almost nothing with a few exceptions due to moments of weakness.  What can we say, we're human - if we behaved perfectly we wouldn't be in this mess in the first place.

Stay tuned,
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