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Big milestones

February 17th, 2009 at 04:37 pm

The tax man paid me back the interest free loan I gave it last year- enough to make a big dent in my debt.
Car #1 is fully paid off (one less 450 a month payment)
Car 2 is down to 5 figures (9823 left at 4%)
CC is now at 5800...
All of which means I have an extra 450 a month to pay down my other car.
At this rate, just paying the 800 will mean the car is done in one year and the cc will be done in 14 mths.

In other exciting news, the GI Bill issue was solved and my husband is now receiving the GI Bill benefits... Along with 2 years of back pay. I don't know what caused the sudden change in status (he was eligible all along), I just checked my bank account one day and the VA had deposited 10k in back payments. Our EF is now funded for four months, which was pretty cool (and painless). Normally, I would rush to pay off something with this money but I am leaving it alone because of the economy. I have a pretty secure job, but I like the way having savings in the bank makes me feel. We are also saving 350 a month on top of that to get to an eventual goal of 1 yr expenses.
I am also pretty happy with the way our debt payoff is going. (Down is always better than up!)
Good luck to everybody. There is some depressing economic news right now.

4 Responses to “Big milestones”

  1. creditcardfree Says:

    Wow! You are doing great. Best wishes as you move forward.

  2. NJDebbie Says:

    I'm so happy you're making huge strides on paying your debt.

  3. momsfirststep Says:

    Good job on paying down so much of your debt. You'll be free before you know it. Keep it up!! Also, very nice on getting 1/3 of the EF funded. You are doing great!

  4. LuxLiving Says:

    Are you changing your withholdings so you aren't loaning uncle sammy so much this year????

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