Let’s Throw Some Money At Our Problems: July 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!

At the end of June, I had a $1,940.99 balance on my 0 percent intro APR Chase Ink business credit card. By the end of July, the balance had grown to $2,535.15 and it is now paid off in full. ($46.87 of that payment came from my rewards balance.)

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.

June 2017 Savings Balance: $6,110.72
July 2017 Savings Balance: $7,224.32

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.

June 2017 Balance: $3,365.73
July 2017 Balance: $3,022.40

We also heard from Megan, who let us know that her Capital One credit card is fully paid off!!! CONGRATULATIONS, MEGAN. ❤ ❤ ❤


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