My car was technically Debt 4 but I chose to pay it off earlier than my AmEx card because it was to a real live person and it was my highest minimum payment. Paying this one off allows me to finally make more than I spend in bills, so I don't have to worry about scrambling to find extra cash in order to break even.1. Banana Republic Card - PAID ($20 Minimum to Medical)
So here is how my Snowball looks today:
2. Medical Bills - PAID (106.40 Minimum to Car)
3. Car - PAID (306.40 Minimum to AmEx)
4. American Express - Balance $570.15 - Minimum $321.40
5. Prosper - Balance $2435.46 - Minimum $101.01
6. Bank of America - Balance $4693.28 - Minimum $101
7. Student Loan - Balance $23821 - No Minimum
Total Remaining - $31519.89
I am, again, making really fantastic progress on all of this debt. I'm down to two jobs now, and I feel so much stronger financially than I did a few months ago. I'm so much less stressed about money. My plan is obviously working, and I'm confident that I'll have my AmEx paid off by the end of November. It's scary to think about hitting the Prosper Loan and the Bank of America Credit Card because those debts are both really big, but I think that if I keep my eye on the target I will make it.
I've still got several more payments from the sale of my company coming in, and I'm hoping to get some more freelance writing work soon.
I have met my October goal 11 days early!
Here are how my 2008 goals are shaping up:
Get My Networth to below -$28000 - Currently at -$28,567 - So close!
Get my Prosper Loan down to less than $2000 - Currently at $2435.36
Pay off my Banana Republic Card - DONE
Pay off my American Express - Currently at $570.15
Get Emergency Fund to $1000 - Currently at $244.71 (This took a hit when I had to buy tires)
I'm getting really close to hitting some of these. I still think that I might not make my Emergency Fund goal, but with my raise I'm putting more money in it a month than I used to, and I'll be saving more of the money from my second job to give it a boost. I really want it at that $1000 mark, and I might bite the bullet and put some extra in there if I manage to meet the other goals.
If I keep going this way I really will have everything but my student loans paid off within a year. That will be such a sweet and fantastic feeling!