How’d I do this month with paying of debt? Let’s see below:
Some changes I made from last month.
Switched a Simple (company name) checking account to an Ally savings account earning 1% interest.
Also received my tax refund which was sent straight into the new Ally account. (A couple reasons the tax refund was so large: I was able to claim P as a dependent and my standard deduction doubled, I had a lower AGI (less than 28k), and I received credits for student loan interest, and retirement savings credit. I also believe I was eligible for the Earned Income Tax Credit). Goal for next year is to receive a smaller refund and increase income.
P and I are saving for a trip to Tennessee in August so the tax refund and extra saving will go towards that trip. Left over will go towards debt.
We also started using a cash budget for groceries. Which means less in credit card rewards.
For those who are reading my net worth reports for the first time I neglected to mention that although I have responsibility for two car loans, the (Kemba loan) is a co-sign, and while I have not paid one cent to that loan, I am still legally responsible for the term of the loan. ($326 was paid towards the loan from the owner).
$267 Debt paid out of pocket, $593 towards all debts.
As always comments and questions (please remain civil, I welcome constructive criticism) are appreciated.