Debt Total

May 2017 Debt Total

Debt Total May 2017- Making Mommy Money

In order from lowest to highest amount, here is the debt total for May 2017.

Credit card: 591.74
old hospital bill: 3,096.64
Ford Edge: 11, 682.59
Student loan: 24,077

All for a whopping total of 39,477.97 🙁

Since we have started this journey last month, our car needed a major repair and completely wiped out our savings. So because we are starting from scratch I will also be posting our savings goal as well. We are following the baby steps of Dave Ramsey and because of that car glitch we are back to square one of building an emergency fund. I will say though that it was a wonderful thing that we had the emergency fund in the first place for instance just as that.

Savings goal: 1,000
current savings as of May 1st: 200

So what’s our plan for May?

Well, first and foremost, we are going to build our emergency fund. It’s step one of the baby steps and we don’t intend to skip around. We may even add more savings accounts so we aren’t using our emergency fund for everything. It is no fun to build up your emergency fund, pay off some debt, have an emergency, and then start at step one over and over again. We’ve been doing that the last few years, and we hate this cycle.

 

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