As we start another month I wanted to give an update on our how we are doing so far on Baby Step 2. You can read about our Baby Step 2: The Debt Snowball and Baby Step 2:Update on these links.
This month we received our tax return. (Woo Hoo!) We decided to use most of it to pay on debt and a small amount on purchasing new mattresses and bed (our old ones were Jason’s grandparents…springs popping through and all, lol). We also happen to come across a great new rental at the beginning of the month that we were able to get into the 1st of March so we used a portion of our tax return to pay for the deposit, get utilities turned on, and renting a Uhaul.
This brings us to the debt we paid in February, using some of our tax return along with our regular monthly budget we were able to pay off our Mercy Medical bill and pay my parents. Here is an updated list of our debts....
-Sam's Club Credit Card: $309.44 PAID OFF 1/15/2011
-Mercy Medical: $934.90 PAID OFF 2/28/2011
-My Parents: $2725.00 PAID OFF 2/28/2011
1-American General: $4058.36
2-Wells Fargo Credit: $4800.00
3-Chrysler Financial: $25,328.09
As you can see we are going to focus on paying our American General loan now. If all goes as planned we should pay that loan off in May. I will post another update when we have paid off more debt!!
