Hey everyone! Happy March! I want to do financial reviews at the end of every month, and also update on goals for the next month!
Just to reiterate, we signed a contract in December to start construction on our new home, which will be ready for move in sometime in July. We want to make sure that our credit is looking as good as possible, so we are taking some bold steps to tackle our debt! Nothing really happened in January, as we recovered from Christmas. February had a couple of big financial events, and March is shaping up to be similar!
We paid off two credit cards in February! We are using the “debt snowball” method and paying off smaller debts, then using what we save on their monthly payments to throw at the next, until you are tackling the biggest debts!
We had a rough couple of years financially, took out student loans and also racked up credit card debt. The credit cards are our strict focus for getting our credit back up. The student loan payments will be starting in April, unfortunately, and will be one of the most expensive debts we will pay on. So not only do we want to pay off credit cards for the sake of credit, but for the sake of making room for a new debt payment. We are already aiming to pay off the next smallest debt in March!
Here is the set up for March! What’s nice is that having two cards paid off, there are less stickers to use, and I see opportunities to use less stickers by paying off other debts!
Of course, when I pull the camera out for pictures, my kids want some taken, so here’s Big B and Little B! I hope your March is wonderful!