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Home > Progress on debt goal; 2010 paychecks; shuffling some money around

Progress on debt goal; 2010 paychecks; shuffling some money around

January 15th, 2010 at 07:57 am

One of AS's student loans hit, with $81 going to principal. $820 down, $1179 to go on the January debt goal.

We got our first paychecks of 2010. I still don't know what AS's will look like for the long haul because she's still straightening out her healthcare and retirement. Mine is about $30 less than I predicted (so over $60 a month, boo), and NT's mysteriously went down a buck and some change from last year, even though we made no changes to his pretax stuff. If it was the stimulus tax withholding changing back you'd think it would change more. Whatevs, paychecks confuse me and I'll never quite be able to accurately forecast what they'll look like. One good thing about my company is that they're going to give me a rundown of what my paychecks will look like on reduced-pay and unpaid leave. Good, because I could never figure it out on my own!

We also got an unexpected deposit of $2101 from NT's college. Apparently we overborrowed for the semester. I'm sending a payment to my credit card. Although the loan from my dad is my current focus, somehow it felt wrong to use debt to pay that off. Doesn't suit the spirit of why I'm focusing on it: the psychological importance of honoring my commitment to my dad. So I'm transferring this debt to my next goal, the credit card. It doesn't feel great to bring the student loan debt back up over $75,000, but the faster I get rid of my personal debt the sooner I can start attacking the student loans. It makes sense to pay down a credit card vs. student loans that get a tax break on the credit, could get deferred in times of hardship, monthly minimum payments don't go down if I pay extra, and some of which aren't even in repayment yet.

What is exciting is it brings my credit card balance down below $10K, and total personal debt below $15K!

1 Responses to “Progress on debt goal; 2010 paychecks; shuffling some money around”

  1. creditcardfree Says:

    Great job! I can quite ever get our paycheck estimate right either. I'm off by $10 for the month. I did notice the stimulus money seems to be some of the effect.

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