Dear Murphy, you’re a(n) ____.

Let’s start with my remaining balances:

flat_bed_tow_truck
Image: Jelson25 via Wikipedia

Student Loan Total: $8535.86

Loan 002: $529.56

Loan 003: $3498.70

Loan 004: $4507.60

Hello folks! Well, we’re about 2 ½ months from the wedding and still chipping away at my student loan. I’m sorry I haven’t written in a while, but this wedding planning stuff is no joke!

Not that I let that deter me in the least in my debt-payoff plan. I will say that I should be further along, but we had a visit from this jerk named Murphy back in November. My car needed about $2000 worth of repairs…and it’s still not fixed.  My car and I are not getting along right now, but for the meantime he’s still drive-able. Thankfully, I had my $1000 emergency fund that I used, and then redirected my next loan payment to pay the mechanic.

I can’t stress enough how important the emergency fund is. That fact is, my debt-free journey had been pretty easy-breezy until the car fiasco. But imagine how much worse off I would have been without the $1000 and a clear budget for every month so I knew where exactly I could adjust to pay the other $1000. The zero-based budget is key, otherwise the debt-snowball falls apart. I know. I tried to pay off debt for years and it took freaking forever to get even little debts paid off.

For those of you that feel like you’ll never get ahead because you keep having Murphy-like events, don’t lose heart. So many other people have completed the baby-steps and have been through the ringer – worse than you and I. You must be tenacious in this process. I’ll admit that I was really peeved when I saw $2000 go towards my car instead of my debt. I was even a little depressed. But I picked myself up and got about the business of getting back on solid financial footing.

budget
Image: bluediamondgallery.com

The first thing I had to do was adjust my budget. Since my emergency fund was depleted, I had to build up my $1000 again. Yeah, it was annoying, but I just kept thinking “What if something else comes along and I don’t have that money?” It wasn’t a situation I wasn’t willing to put myself in again. I know what it’s like to have to rely on debt to get out of an emergency and then make my financial situation more precarious. I vowed to never borrow money again (except MAYBE on a mortgage) and I intend to keep that vow to myself.

So, I adjusted my budget to replenish the emergency fund and tortured myself every day for a month – looking at my damn student loan balance being reduced at the rate of frozen molasses. I had to get angry at my debt again to pull myself out of the funk…and it worked!

I made it through. January was the first month back to having my emergency fund and I punched my student loan with payments totaling $1442.50. Boom-shaka-laka.

I have another announcement:

No, I’m not pregnant lol. My goal is to pay off this loan before our wedding date of April 23rd, 2016. Only a few short months away, but based on my math, I know it’s doable.

Dream big, people.

What are some events that slowed down you’re debt-free journey?  How did you get through it?  Comment below and please remember to subscribe to my blog!

 

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