I’m still in debt.
But! Looking back at my progress charts I notice that I paid about $8000 off in 2008. I feel like that’s a lot, especially considering some major setbacks/large unexpected expenses. And I will surely pay off the rest of my debt in 2009, and start saving aggressively – maybe even investing a little.
So, I’m happy with how far I’ve come, even though I wish I were out of debt already!
Well. I was supposed to be out of credit card debt by now but I still have a few months. I have been being remarkably well behaved, snowballing dutifully and snowflaking here and there. But I took an unexpected pay cut this semester (university teaching position wasn’t available) which reduced my snowballing power, and on top of that have decided it is time to move to another apartment. Which of course means floating the security deposit and praying my current landlords give mine back. I used my emergency fund for this, and feeling panicky without my emergency fund, I immediately diverted my snowball payment to refuel the e-fund.
On the positive side, I have adopted the tactic of decluttering in preparation for the move, which means selling more stuff on craigslist. So I have some extra cash on hand. Feels good! Right now I think I can pay off that last card in 3 months – just in time for my 28th birthday.
The last few weeks I was feeling very positive. I wrote here about thinking I was going to kill the cc debt in two months or less. I was very excited, making charts, dreaming of building my savings, maybe a nice haircut, etc. etc.
Well, then the other shoe dropped and they juggled my financial stuff around at work (I am a grad student). and now I am not getting any teaching income this semester. Which means I am cutting back my expenses and I have to readjust my debt repayment schedule! If careful, I can pay it all off by December or January. Just a few months behind schedule..but still! argh
I can’t complain too much about that. At least I have a secure position. Many people are worse off.
But… there’s always a but. a lot of work-related expenses haven’t been reimbursed yet. Due to money always being tight, I put some of them on my paid-off credit card, with the idea I could immediately pay it off once the reimbursals came through. Except… of course the business office is slow, and scattered, and it’s taking forever, and now I am going to pay interest on these expenses! and it’s a very bad APR! irritating. so. I am transferring money (several hundred) from my Emergency fund to pay that freaking thing off. Maybe I shouldn’t, maybe I will regret it, but I seriously HATE having to carry a balance on that card, which I already busted my chops to pay off once. And I can replenish the E-fund once the payment comes back (it will, eventually).