I Have a New Addiction

As it stands, here is my current debt amount.  You’ll see some drastic changes.

Car Loan $3,108.82

Student Loan $17,925.69

Previously, I was saving to get my braces, targeting the end of March for my savings to be complete and to get them on.  However, the boyfriend threw a slight (but wonderful) hiccup into that plan.  He asked that I wait until the end of May to get them on.  I’m guessing that he’ll be proposing around that time, because he said that it was very important to him that I wait.  In addition to braces, I’m also waiting on a proposal!  (R. thinks he’s really sly.)

Since I now have until May to save the roughly $3,600 for my braces, I reallocated the savings I already had.  I figured out if I throw all the extra money I have currently, paychecks this month and a bonus at the end of this month at my car loan, I can almost pay it off by the end of March.  I’m short by about $35 bucks.  Grrr.

I’m challenging myself to pay off my car loan in full by the end of March. 

Last night, I already took the existing $667 in my “Braces Fund” and paid it towards my loan. Today, I made some changes to my budget, moving money out of non-essentials like clothing to my car loan. Then I transferred the $16 leftover from my “Gas Fund”. This month, not including the $667 already applied to my loan, I will pay $1,127 from my regular paychecks, around $132 in overtime pay, roughly $1743 from my bonus check and $60 from my side gig.  I got down to the $35 mark by estimating additional leftover funds from gas this month.

I’m a woman on a mission.  And I’m a little crazy.  It’s true what Dave Ramsey says: once you start  down the debt snowball path, you start to get gazelle-intense.  I’ve cut things I never thought I would.  This week I didn’t eat out once because I knew if I took money out of my allocated “Restaurant Fund”, that I wouldn’t be able to put it towards this loan.  I don’t mind skimping on clothes this month.  And if I have to, I’ll take some money out of my “Running Fund”. It’ll hurt, but I know I won’t regret it once I punch my car loan in the face.

What are some nutty things you’ve done to pay off debt?  Comment/like below.  Remember, debt is dumb.  Cash is King!

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