Let’s Throw Some Money at Our Problems: September 2017 Monthly Check-In
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’ve paid off all my 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), as well as keeping a $3,000 checking account buffer that gets spent down during low cashflow months and paid back during higher ones.
August 2017 Savings Balance:$8,553.45
September 2017 Savings Balance: $9,327.73
Current checking account balance: $3,006.69
I’m paying off a private graduate student loan currently serviced by Discover. The interest rate on this loan is 2.5 percent, and the minimum monthly payment is $147. The original balance on this student loan was $22,377.
August 2017 Balance: $2,628.71
September 2017 Balance: $2,153.57