Wednesday, May 02, 2007
Journey to Financial Freedom Update - April Month-End
So we thought all the medical bills from Draven's birth had been paid off, but low and behold, once the smoke cleared we had some more. About $600 went into medical bills instead of debt reduction which set us back a bit on our plan, but it is awesome that we could easily pay that without issue.
We also found out that newborn diapers and extra wipes cost a lot of money too! Who knew! So our grocery bill is higher than normal, but I guess we'd better get used to that. In a growing family, it comes with the territory.
All that considered, we had a great month. We still made more than $1,000 headway on debt reduction. In May, we will be paying off one credit card completely, and the other one will be easy prey for a June payoff. At that point, we will have no more consumer debt! The next victim will be our GMC Jimmy debt. Right now the plan has us paying that off before Christmas! So at the end of this year, all we will have left are student loans and the mortgage!
In May, we will be getting a bonus from Josh's job for tuition reimbursement, and plan to pay off more than $4,500 in one month.
It's crazy what has happened since we've stuck to a written budget that both of us agree on, and start to hate debt. We are starting to have this thing called money!!!
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