Let’s Throw Some Money at Our Problems: July 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 6 percent of each freelance paycheck (pretax) towards savings, investing another 6 percent (pretax) in an individual brokerage account, and working to maintain a $3K checking account buffer.
June 2018 Savings Balance: $7,799.91
July 2018 Savings Balance: $8,090.27
June 2018 Brokerage Account Balance: $3,450.62
July 2018 Brokerage Account Balance: $3,922.89
June 2018 Checking Balance: $2,331.89
July 2018 Checking Balance: $2,387.88
I paid off my private student loan from Discover last month. I would be in the mood to celebrate a little bit more if not for this one last federal student loan I have left. One last loan! And it’s serviced from everyone’s favorite institution, Navient. I don’t recall what the original balance on this loan is, but the minimum monthly payment is $266.70. I’m paying at least double, if not triple the minimum monthly payment in an effort to see this loan disappear faster.
June 2018 Balance: $22,793.06
July 2018 Balance: $22,283.46
Support The Billfold
The Billfold continues to exist thanks to support from our readers. Help us continue to do our work by making a monthly pledge on Patreon or a one-time-only contribution through PayPal.