Baby Step 2: Update

We are at the end of month one of working on Baby Step 2: The Debt Snowball and so far we are well on our way to paying off our debt. We were able to pay off our Reliance Urgent Care bill and Sam's Club Credit Card in January. This now moves Mercy Medical to number one, My Parents to number two and so on. I've also updated the totals to reflect what is due as of 2/1 for the remaining debt. Here is an updated list of our debts....

-Reliance Urgent Care: $151.34 PAID OFF 1/1/2011
-Sam's Club Credit Card: $309.44 PAID OFF 1/15/2011
1-Mercy Medical: $934.90
2-My Parents: $2725.00
3-American General: $4216.67
4-Wells Fargo Credit: $4900.00
5-Chrysler Financial: $25,859.83

We did have a minor set back this month when we had to purchase a used refrigerator for our house in Farmington for our renters because the old one went out. We dipped into budgeted money for debt instead of touching our savings because we didn't want to stop our debt snowball to get our Baby Step One: $1000 Emergency Savings back to where it should be. This worked out well overall!!

Quick update on our monthly budget:

We sold our gas dryer for $75 that had been sitting in storage since moving to Texas. We used that money to buy a $50 electric dryer from our neighbor/Jason's co-worker. This dryer has already paid for it's self with the the $10 a week we are saving from not paying to dry our clothes at the apartment laundry mat. =)