Months 19-23 of Our Debt Free Journey: July – Nov 2014

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This post is part of Our Journey to Become Debt Free series. To see the others, please click here.

Going from a full time income to a part time income really had an effect on our debt snowball. Of course, it had a major effect on my time to devote to spending with my 1 year old, Lucas and to housework. Last week, I told you that in Months 16-18 of Our Journey to Become Debt Free, we were not able to pay anything extra towards our debt snowball and only made the scheduled loan payment of $234 each month on the Civic. You can read that post here, if you missed it.
Well, as promised, things got exciting!
MONTH 19 – JULY 2014: We paid down $999.26 on the Civic, bringing the total down to $5125.08. This was made up of from some of my Etsy profit for the month, after the $1,000 Baby Emergency Fund we decided to create for Aqua Anchor. I was still too scared to put all of the remaining profit on the Civic though. 
MONTH 20 – AUGUST 2014: Paid down $634 on the Civic, bringing the total down to $4503.65. Same story for August, it was some of my Etsy profit for the month, but I was still too afraid to use all of it.  
MONTH 21 – SEPTEMBER 2014: Paid down $745.77 on the Civic, bringing the balance to $3,768.95. In September, I did use all of my Etsy profit. But only part of it went to the Civic, the rest went towards a weekend spent out of town for Lucas’ birthday at a wildlife exhibit. We decided to do it since we had just found out I was pregnant and Mama was having those “he won’t be an only child much longer” guilt emotions. But we had a BLAST! 
GWC Collage
 At this point, I knew we were headed to having the Civic paid off SOON and I started busting it to make that extra income in my shop, Aqua Anchor Designs to put towards it. I also decided to close out my little 401k that I had left at my previous job. There was only around $1100 in it, so they took the taxes required out and we’ll pay a little more on our tax return next year for it.
MONTH 22 – OCTOBER 2014: Paid down $2155.94 on the Civic, bringing the balance to $1622.90. About $1,200 of that was Etsy profit and the rest was my 401k check. 
MONTH 23 – NOVEMBER 2014: In November, we did it! We paid down the remaining $1623.22 and paid off the Civic! 
totalpaidoff
 That means that yes, except for our mortgage, we are now DEBT FREE!!!
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It’s an amazing feeling! So now we have a lot more decisions and planning we need to do, and some we’ve already made/done! I’ll make a Follow-up post and update you on all of that next week!
 
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3 thoughts on “Months 19-23 of Our Debt Free Journey: July – Nov 2014

  1. Belinda

    Well done!!!!! Must feel amazing to have gotten rid of that pesky debt! What a great position to now be in….especially with No. 2 Bub on the way.

    Sounds like your Etsy business is really growing well!

    Like

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