It’s been a few months since I did one of these posts, but I thought it would be a good time to update y’all on where I stand with my debt. When I originally started tracking my debt a couple of years ago, I was around $19,000 in the red, which I didn’t like, but in comparison to where I am now, is appalling! I’m currently at $26,893.29, which is most distressing. The one good thing about this was that I was flirting with $30,000 for a while there over the summer, so I’m pleased that I’m now going back down, instead of up. The new job is definitely helping with that. Even with the added commuting gas expense, I’m still able to put an extra $100-200 a month towards my debt, which is good.
You’ll notice a new widget over there in the sidebar, it’s tracking how much I’ve got saved in my emergency fund. I’m quite pleased to see it’s over $3,000, because that means I’m more than half way to my goal of $5,000. That’s the number I’m going to be comfortable with for the next few years. I may increase that emergency fund at some point, but I wanted to get it to a decent number, and $5,000 is that number. Once I hit that, I’ll be taking that savings money and applying it to my debt for a while, to get that down to a more “manageable” number.
There you have it, still in the red, but making progress. How are you all doing?
What caused the increase from $19k to $26k?