March Debt Update

The plague that sickened both kids and landed DS1 in the hospital, has officially taken down DH.  Hence the late-in-the-day post today.  Let’s hope I’m not the next victim!  When mom goes down, the whole house turns to shambles!  Ha.  Anyway…

At the end of February I posted our updated debt and savings amounts:

  • Starting Debt: $69,794.77
  • Starting Savings: $15,408.01*

*I’m only accounting for our regular liquid savings account.  Not the apps, investments, or Digit.

I laid out all of our current credit card debts in this post here.  That post also briefly mentions our mortgage on a rental property that is just under $60k.

  • Starting Credit Cards: $11,186.44
  • Starting Mortgage: $60,185.80

New Numbers!!

As of March 31st, our debt and savings are currently:

  • Current Debt: $77,504.54
  • Current Savings: $16,240.84

March breakdown…

  • Credit Cards: $7,870.47
  • Mortgage: $59,444.56
  • Auto Loan: $10,189.50

The most noticeable change is the addition of an auto loan.  This was a planned expense for this year, and I’m happy with the amount and payment.  Info here.

However, the biggest change is the fact that I paid off two credit cards.  If you ignore the auto loan, you’ll see our consumer debt actually went down $2,215.80 this month!!!

DH repaid the $500 to savings that he took last month.   Including that $500 repayment, we were able to increase our liquid savings account by $832.83.   I have $2,500 in cash from selling two vehicles as well.  We just set this money aside just in case we encountered any more buyer problems.

March was busy for us, and I didn’t keep track of all the extra money we made.  My goal is always to pay an extra $400 towards debt per month.  I killed it with an extra $1,000 this month!  A few snowflakes for March included:

  • $10.00 sold mirror
  • $20.00 sold mattress
  • $50.00 sold tool box
  • $15 sold storage drawers
  • $700 sold washer and dryer
  • $3000 car #1 sale, minus $700 repair = $2300 (not applied yet)
  • $500 car #2 sale (not applied yet)

I did withdraw $1000 from Digit.  Digit is our ‘vacation’ account.  Since we’ve decided to postpone a family vacation until 2018, I went ahead and put some towards debt instead.

Figuring Out a Budget

Moving forward into April, I finally have an idea of what DH’s paychecks will be.  After savings, benefits, and taxes it looks like just over $1,000 bi-weekly.  Ouch.  So much for that pay raise, the insurance premium increase killed any extra he’d take home.  I need to get strict with a budget now that I have numbers to go by.

I currently juggle three income streams:  DH job, rental, and MIL contributions each month.  It’s a hassle and I haven’t quite figured out a system that works for me to track every thing.  My goal for April is to do just that.


Even though our debt increased with the auto loan, I am thrilled with our progress.  I know we can knock out the consumer debt in a few months if we’re smart with our money.  That’s a big IF lol.  I’ve updated my sidebar and debt progress page with all the numbers as well.

How did everyone else do with debt reduction and savings for March? Any goals going into April??  Happy Friday!!!

This entry was posted in Debt, Extra Income, Goals, Monthly Update, Savings and tagged , , , , . Bookmark the permalink.

4 Responses to March Debt Update

  1. I just want to say I love finding blogs that share their personal progress – in my case with getting out of debt. It seems hard to find these lately as everyone want to share ‘how to get out of debt’. Hmm… maybe its good I can’t find many because then less people are in debt…. Following and cheering!


    • Thank you! And I agree! It seems PF blogs have changed from getting out of debt to “look at how much money I make blogging about PF” lol. Posting actual numbers keeps me accountable. Only way to succeed is to face my failures.


  2. Pingback: Unexpected Repairs | Intrepid Debt Blog

  3. Pingback: April Debt Update | Intrepid Debt Blog

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