I made a lot more progress in January! I paid off $2500.87 of debt! I worked a lot but it was definitely worth it. $1565 came from my part time waitressing job. The rest I was able to squeeze out of my monthly budget by cutting expenses.
Iberia Loan: PAID OFF!
Fifth Third: $5,288.40
Wells Fargo: $1529.12
Boyfriend Loan: $7,000
Total Debt: $13,817.52
My goal for February is to pay off the Wells Fargo balance and begin on the Fifth Third balance.
My car is leased and the lease is up in August. I won't be leasing again but would like to buy a decent used car. A car that is about 2 or 3 years old with about 40,000 miles or fewer on it and costs about $10k to $13k. I won't be able to pay off the $13K and save about $12K for the new car by August. I would hate to bust my butt to pay the debt off to turn around and go right back into debt. I would be okay buying a junker car for $1,000 and driving that for a little while but my day job is very client focused and unfortunately that would send the wrong impression to my clients. I know going into debt to impress people is extremely stupid but I really think I would lose business and credibility if I show up to client meetings in a POS. I may pay off all of the loans except the boyfriend loan and then begin saving money like crazy for the new car. I'll check with him first but I think he'll be okay with that idea! Happy with the progress I am making and hope I can keep it up for February!