We’ve hit a plateau with the debt snowball. We don’t seem to be gaining any momentum at the present time and it is downright frustrating.
I know, I need to live by my new mantra, “progress not perfection” even when it comes to our finances, but it’s hard. I HATE this dumb student loan. Seriously, it never seems to go away and every month we pay approximately $120 for the privilege of having it.
That’s over $1,400 every year out of our pockets to the Department of Education just for interest.
While March did prove to be a little warmer and sunnier than February, it didn’t bring as much hope and optimism in our finances as we had wanted. We again only paid the minimum on the student loan. However, we also used the majority of one of Brian’s paychecks towards our goal of budgeting a month in advance. In order to do this successfully, we had to be able to use our March paychecks for our April budget. This will make budgeting easier as well as ensure we have enough cash in our accounts to pay our bills before they are due.
March did bring with it an unexpected expense as well.
Our beloved dog, Cookie, had to visit the vet. Luckily, what I feared may be diabetes was actually just a bladder infection. The entire ordeal still cost us over $300, which we weren’t planning for at the beginning of the month. Plus we now have to purchase prescription dog food indefinitely. I guess we’ll have to allocate more money to the dog’s budget line item moving forward.
I didn’t realize a dog could get a bladder infection and I certainly didn’t know how to collect a dog urine sample until now. I’m sure it was a funny sight to see me chasing our dog around with a soup ladle as she tried to find the perfect spot to pee on a crisp March morning.
This month we did plan for extra money in our family entertainment so that we could take a one day trip to Chicago over Cassidy’s spring break. She’s been longing to go back to the American Girl Doll store. Since Amelia has never been there, we are all going for a day trip together. Otherwise, spring break will be hanging out at home and hopefully enjoying some outdoor play if the weather is nice enough.
Next month, an additional challenge to our budget will be Amelia’s surgery. With that will comes a large co-pay (thank goodness for insurance) and prescriptions, follow-up appointments, etc. It was almost one year ago that she got her adenoids out and tubes put in. Unfortunately, she has to go back in to get tubes put back in and her tonsils out this year. We are hopeful that this will solve all of those issues and she can avoid surgery again any time soon.
Income report from March:
Total extra income $ 0
Current outstanding student loan debt $28,200
Be sure to check out pervious month debt snowball updates.