Christmas, a trip down to Georgia for a funeral, and medical expenses have killed my paying off debt plan. As it stands, I am basically treading water this month trying to keep our finances moving in the right direction. In order to stay somewhat on track, I think we are going to transfer our credit card balance to a zero interest card and stick to the original plan of attacking our bar loans.
Here are the balances:
Pay off credit card - currently about 5k
Pay off undergrad 1,703.96
Pay off Bar Loan #1 8,706.16
Pay off Bar Loan #2 8,697.12
Car #1 about 10K
Car #2 about 16K
Law School Loans about 250K
Goals for 2016:
Jan.-Feb.
Live on cash
Transfer CC balance to zero interest card, pay 3% up front for the year
Pay med. expenses from 2015, and pay out of pocket for 2016 until we hit our deductible (2,500)
March - May
Live on cash
Pay 6K on Bar Loan #1
Use tax return to pay off the rest of Bar Loan #1
Have a fun birthday party!
June - Aug.
Live on cash
Pay 6K on Bar Loan #2
Pay for Henry's co-op with cash
Sept. - Oct.
Live on cash
Pay off Bar Loan #2
Pay off Remainder of Undergrad loan
Celebrate Willoughby's First birthday
Nov. - Dec.
Live on cash
Pay 4K on zero interest card
Celebrate Henry's birthday
Travel for Thanksgiving
Have a nice Christmas
Goals for 2017
Pay off remainder of zero interest card
Buy a house
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