Although I had managed to make our first (but small) debt payment two weeks ago, last Friday’s paycheck finally got us gained us some great traction. My paycheck included holiday pay for Family Day and some overtime hours, so although I anticipated a fat paycheck, I wasn’t sure just how fat. Turns out it was the biggest paycheck I’ve received to date at $1,982 – for you high earners, yes, that may not be a lot, but for me, it was a tad exhilarating checking my bank accounts Friday morning!
After setting aside what we needed for our upcoming bills, we managed to pay off $788.72, more than double what we needed to pay off per week ($334.77) to meet our goal of eliminating our debt by year’s end. That brought us down from $14,395.28 to $13,606.56. That number has now dropped to $323.97!
We’ve still got a ways to go before we even hit the 100% mark, which was the point at which we started trying to pay off our debt last year ($11,576.25) and further still from the lowest point we had reached last year ($8,699.82) but this tunnel vision we’ve got for paying down our debt has really helped us cut out unnecessary spending.