Back in June we should have been able to pay off this credit card by my calculations from the previous months. I have a notebook that I know what we will pay each pay period that is over a year out. I know things will come up and the pay may change and life happens but I know generally what will need to be paid and approximately how much money we should have after the bills are paid. Well my friends… we didn’t do so hot in the months of April and May. I’m not exactly sure what happened but we didn’t meet our goal after each pay period ended. The amount that I would have calculated was sometimes $200-$300 short that should have been put on this credit card to pay it off. We did have one large expense that really ruined it, that was fixing my husbands car. It had some warranted things done as well such as brakes and sway bar replacing and just some other maintenance things done. The bad news is that set us back just under $650. The good news is, we paid for it with cash and didn’t need to put it on a credit card. That would have been something we would not have been able to do a few years back. I had to keep reminding myself that when we were only able to put about $200 on the credit card that pay period instead of $850 like I had projected.
Then we had a few times we went to the movies or took the kids to the movies and that costs a pretty penny these days. Then my husband wanted to go to the race track a few times (which to be fair he’s been wanting to go for a few years now) but that is an hour and a half away. All said and done after we drive there and back and cost to get in plus food or drinks we are looking at probably $50 or more. We did that twice within a few weeks. It was a good time but it wasn’t budgeted for, and that set us back. Going out to eat was the number 1 killer of not getting our debt paid off when we wanted to. You don’t even realize how much money you spend until you go look at the bank statements and add up all the fast food expenses. It is just ridiculous. $23 here and $16 there or $26 here adds up to $65! That is just 3 times and probably on the cheap side! Plus when the husband goes out to eat at lunch, even if it’s only 2 or 3 times a week plus a few pops and coffees, holy hell we’ve spend like $250 on that crap in 2 weeks. Talk about sick to your stomach.
I was heart broken that we were falling so far behind so we looked over our finances together and we realized we had multiple savings accounts. One with our USAA account, a local bank, we had money in a vacation account we are planning on taking in 2020. After we added up some of that money we realized we could pay off the Discover card and get ourselves back on track. We’ve been listening to a lot of Dave Ramsey lately so we decided that is what we needed to do. We had our $1000 emergency fund in our main savings account and put the rest on the Discover card to pay that off. It was a little scary but also it gave us a boost to really knock this debt out with a vengeance.
Now onto paying off Sean’s car. We have made some awesome progress in the last month and a half paying off over $2000 so we are on a roll and We don’t plan on stopping anytime soon!