August 14th, 2013 
Jessica 
During the past 8 months, we spent 4 months on 75% salary, we had a baby, and I underwent 2 surgeries. We also bought a new car seat, converted all our cloth diapers to snaps, and bought airplane tickets home for Thanksgiving.
Despite these expenses, thanks to using Mvelopes for budgeting, I feel more confident about where our money is going than I have in years past. It’s great to know that we survived the past 8 months without having to dip into our “Emergency Fund” even once. We even put our entire tax refund into our student loan debt! However, we did have to take a break from paying off debt for the summer. In fact, you’ll notice our student loan debt (which isn’t due again until January of 2016) has grown since May because it is accumulating interest.
We are hopeful as we look ahead, because once the last few medical bills are paid, we’ll be able to spend money on some other things we need…like new tires for our truck and bunk beds for the kids and debt payments!
So here is what we’re looking at right now:
- Sallie Mae: $15, 691.35 (4.5% Interest Rate)
- Wells Fargo: $106, 947.42 (4.125% Interest Rate)
- Total Owed: $122,638.77
So, we’ve paid off $428.97 in the last 3 1/2 months since my May update. Again, that number should improve now that we are back on full salary, and hoping that the rest of 2013 will be free of medical concerns!
Have you made a list of your debts in order of their pay-off amount? What progress have you made in paying off your debts this year?
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