Friday, May 27, 2016

May 2016 Debt Repayment Update: $73,548.60 remaining

This past month our debt balance dropped by another $450 or so to land at $73,548.60. Now the not so fun part of that is that we put $750 toward our loans (around $63K currently in student loans, and around $10K in auto), which means about $300 went just to interest alone. Sigh. The hardest part about paying off loans or taking on any major change you want to make in life is that at the beginning, it doesn't always feel like you are making that much progress. That said, we are grown-ups and know that this is part of the deal. The good news is that we are closing in on paying off $20,000 of our debt hopefully by the end of this year. Many people would be thrilled that they had paid off $20,000 in two years, or saved up that much. I try to keep that in mind as we still have a hefty chunk to pay off.

Dental work - again!
We had a few other hiccups that weren't related to debt-repayment. I had put off going to the dentist for awhile, and finally a tooth pain prompted me to go. I usually don't get cavities, and this time I didn't have any either, but I found out that a molar had cracked and I had to get a crown put in.

I don't know what it is about dental work, but I was really stressed about the process. I'm a minimal-medical-interventions sort of gal. With labor, I was not stressed at all, and I had three of our four children without drugs. But having a pesky cracked molar dealt with really bothered me for some reason. So far I have a temporary crown and will get the permanent one put in around a week and a half from now.

The good news is that we can pay for it with our HSA, and we have steadily been contributing to it so that we have more than enough to cover the repair for now. I look back on the financial decisions we've made the past few years, and one of them that I'm definitely glad about is to fund our HSA. It gives us such peace of mind in medical emergencies to know that there is something set aside.

And a flooding window well!
Another spending decision I've been grateful for this past month is our sump pump purchase for last spring's flooding window well. The water is not coming up from above, but rather filling up from below the well. We were disappointed to discover that our french drain, while keeping most of the water away from our house in this year's new wave of heavy rain, still is not keeping that well from flooding up, so we have the pump in there again. My guess is that there is broken drain tile somewhere beyond that well because it's designed to all flow around the house and out the sewer line, but for now, the pump seems to be managing the water and keeping our basement dry.

I am hoping to be posting more frequently this summer, so stay tuned for some posts in the next couple of weeks. School is slowing down a little, which gives me more time to write.

Below budget in our food again
I am grateful for the four-week food months. This month, we came in at about $70 under food budget which increased our stock-up fund to $129. Then my mother-in-law sent us a check for $50 for groceries after their visit to see us, so I'm putting that into the stock-up fund as well. This next month will have five weeks in it so I don't know how much we'll come in below budget, but I'm generally happy that we can stay at either budget or below budget.

How was your month? Did you have any financial successes or setbacks?


  1. I completely agree with you about dental issues! I too have an appointment next week that I am not looking forward to but know that the tooth has to be dealt with. For me, it's the thought of someone putting their hands in my mouth that is just too weird.

    While you may have paid interest on your loan, you also paid a greater amount of principal. Progress! And like you stated, $20,000 is a lot of progress in my opinion.

  2. Yes, I have been spoiled with good teeth so far in my life. I have never had any major dental work done except for having my wisdom teeth pulled in high school and braces. My poor husband, on the other hand, is missing two molars on one side while he decides what to do to replace them (his invasive implant surgery did not take, so he has to go through that or something else all over again). The process for me was not bad, it was just the fear of the unknown, and it did not help that they were playing Dr. Phil on the television when they got started!


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