Monday, August 4, 2014

Debt Update

How are things going for you guys financially?  Things are slow going here,which is driving me so absolutely crazy. 

As things stand today I owe:

$220 on my capital one card.  This is for continued dental payments ($188 consultation fee with yet another oral surgeon) and the monthly fee for my home security system.  This card is essentially paid off monthly.  It is a 0% card until December of 2014. 

Approximately $26,090 worth of student loans (this is broken down into 2 separate student loans (1)$20,387 and (2)$5,703- I hope that math is right??) This includes the interest that will accrue for the next 2 weeks until I make another payment. 

My monetary assets include:
$10,006 in emergency savings
$1,421 in an interest bearing savings account
$1,650 in a dental fund (this is just money saved up in my checking account, which is specifically set aside for dental work).

I put $1,500 a month aside for dental work.  This is killing me because that money could go towards my student loans.  I could knock out the small loan so quickly if I could just apply that amount to the loan.  I just don't want to accrue any more debt while paying off the loans; especially debt that I have to pay interest on. The interest rate on my student loans is 2.88%. The interest rate on my credit card will be around 13% after December. So I will continue to cash flow my dental work, while slowly chipping away at the student loan debt.   Sigh. 

1 comment:

  1. I know exactly how you feel! We are paying back our savings (from a credit card payoff) and I watch $2,300 NOT going to debt. It is killing me too!

    I like action, I want it now. Patience is something I have a life long struggle with.

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