You can't have a goal of where you want to go without knowing where you are starting. My husband and I are in a lot of credit card debt stemming from some medical issues we've both had and the DUI causing me to lose my job. BUT I'm confident we can still take complete and total control over this mess. This is where we are standing as of January 1st 2025. We have 10 credit cards between the two of us, two car loans, and a personal loan. We do not technically share any of these, they are split between the two of us individually. He has 6 credit cards and a car loan and I have 4 credit cards, a car loan, and the personal loan. We do both have some investments. I do not know what his are but I have a high yield savings account through Sofi, two portfolios through Stash, several iBonds through the state treasury, and a small amount in my federal TSP.
| Credit Cards | December | January |
|---|---|---|
| X5 | 513 | 317 |
| Verizon | 2418 | 846 |
| Capitol One | 0 | 165 |
| Quicksilver | 684 | 1675 |
| Brightway | 445 | 145 |
| Discover | 12114 | 12547 |
| Care Credit | 979 | 916 |
| Avant | 395 | 329 |
| Tires | 890 | 802 |
| Credit One | 775 | 254 |
| Total | 19213 | 17996 |
| Loans | December | January |
|---|---|---|
| Becca's Car | ||
| Mikey's Car | 37324 | |
| Personal | 7198 | 6777 |
| Total | 7198 | 44101 |
| Savings/Investments | December | January |
|---|---|---|
| Sofi | 2629.41 | 2795.56 |
| Stash | 1674.05 | 1699.36 |
| Treasury Direct | 859.75 | 862.13 |
| TSP | 1899.58 | 1903.92 |
| Total | 7062.79 | 7260.97 |
So I did not create these tables at the BEGINNING of December which I feel is more important for the loan balances and investments, so there may not be much change in between December and January in some categories and I know that going into this. My car was also totaled while driving for Amazon this December and so I am not including that car loan. I will soon be getting another car loan and that will show up in the February month look most likely. I only get updated balances from Mikey at the beginning of the month, so these big deep looks will only be occurring once a month.
Next month when I post I will be doing a dive and deeper analyzing the changes in each balance but for now I think this is where I'll leave it. I also want to say that there will not be much change in the Care Credit card as that has 2 years to pay off interest free and the tires do not have to be paid off until April 20th so I do not expect those to be paid down until necessary.
We reduced our total credit card balances overall by $1217 while still making all of our other minimums on the personal loan and the cars. I think that is a pretty great start! At that rate it will take roughly 14 months to pay everything off (although it will be quicker because we will be paying increasingly less interest as the process goes on). Tracking this just for this month honestly makes me feel really hopeful for this process and excited to see how this goes.
I have been working as a seasonal helper with UPS temporarily and this has basically ended at this point so now I have to try to find a new job while focusing on paying off all these things. Hopefully we can stay consistent. I have some side gigs and some things I do online which I will be writing about periodically so that you can get a grasp on some of the other things I do to help make ends meet and maybe you can do some of them yourselves! I will only ever post referral links for websites or things that I actually use and enjoy. If I try something and I don't think it is worth it I will not be posting a referral link for it.
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