Let’s Throw Some Money At Our Problems: June 2017 Monthly Check-In
Pull up those balances.
It’s the end of the month!
If you’re joining us for the first time, we like to report a specific balance at the end of each month to have a public record of our efforts to pay down our debt or reach our savings goals. You can read about our decision to publicly keep track of our debt here.
Pull up those balances!
I currently have a $1,940.99 balance on my Chase Ink business credit card. I’m on a 0 percent interest rate, and will pay off the entire balance in full on July 15.
I have no other outstanding debts, so let’s see how I’m doing on my savings goal. I’m continuing to save 15 percent of every freelance check (pretax), and using the “very detailed look at my summer budget” that I created at the beginning of June, I’m expecting to have $8,423.22 in savings by the end of August, as well as a $3,000 “cashflow buffer” in my checking account.
May 2017 Savings Balance: $5,602.51
June 2017 Savings Balance: $6,110.72
I’m paying off a private graduate student loan currently serviced by Discover. The interest rate on this loan is 2.25 percent, and the minimum monthly payment is $147. The original balance on this student loan was $22,377.
May 2017 Balance: $3,707.19
June 2017 Balance: $3,365.73
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