Here is my monthly accountability report. The good news: over $2,000 went to paying off debt or savings.
The bad news: Another account was reported late and my credit score took a ding. I think all accounts are current now and I can start snowballing the rest of the debt.
I’ve paid a total of $1,165.51 in debt and managed to sock $900.78 in savings – woo hoo! You’ll notice my total debt difference doesn’t reflect these numbers, that is because:
- I found another $500+ in medical bills – boooo!!!
- My debts carry interest ranging from 0-20% — Booo!!!
- Still waiting for the dust to settle, so some of my numbers are off — these should settle down in the next couple months
Total Debt $33,210.66 (↓ $106.3)
Medical: $6356.96 (35 line items) | ↑ $408.53 ( ↓ 14 line items )
It may be another couple months before the dust settles. Workman’s comp being removed, large bills being consolidated into payment plans, disputes being re-adjusted, etc….
Car: $7,008.73 (↓ $385.27)
Credit Cards: $420.50 (↓ $178.50)
It would have been lower, but you can read about my careless $100+ mistake here
Student Loan: $17,221.27 (↓ $155.67)
Other: $2095.59 (↑ $97)
Discovered an old cell phone termination fee that slipped through the cracks
E-R Fund: $1955.56 (↑ $900.78)
TSP (Retirement Fund): $20,604.54 (↑$630.59) Gain ↑ $125.15*
My monthly contributions + company matching is $505.44
*TSP funds actually went down in July, that gain is because I didn’t report on the last date of the month in June. I will be more accurate next month
Current goal is $6000 in the E-R fund by October 2014. In order to meet this goal I need to re-allocate and ramp up the savings. Since medical bills carry no interest, I need to put the remainders on minimum payment plans and shift the difference to savings. If I can save $1300-$1400 for the next 3 months I’ll make the goal.
Overall Monthly Grade: C+
My credit score went down – AGAIN! Another account that was charged off recently hit my report. These may be rolling in for a couple months until the dust settles. I just have to keep reminding myself, that Rome was not built in a day. It took us more than 1 month to get into this mess…and its going to take longer than that to get out of it. When you know better – you do better!