Let’s Throw Some Money at Our Problems: February 2018 Monthly Check-In

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 goals. Right now I’m putting 5 percent of each freelance paycheck (pretax) towards savings, investing another 5 percent (pretax) in an individual brokerage account, and working to maintain a $3K checking account buffer.

January 2018 Savings Balance: $4,783.85
February 2018 Savings Balance: $5,142.64

February 2018 Brokerage Account Balance: $626.63

January 2018 Checking Balance: $2,961.04
February 2018 Checking Balance: $3,516.50

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.

January 2018 Balance: $745.47
February 2018 Balance: $491.50


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