I realize that in the last few weeks I posted our June & July debt payments, but I didn’t get to share our August 2016 debt repayment at the same time as the rest of the summer payments because of when the due dates throughout the month. Keep an eye out in the next few days though. I’ve got a post coming with our entire summer budget broken down. Because it’s our expenses over the last 3 months, and I’m showing what our expenses looked through the summer, it’ll be a doozy! You can read more on why I share our debt journey, as well as how we acquired that much debt, here.
So how did we do on our August 2016 debt repayment?
Our standard payment each month. This is a nice rounded number a few dollars above the minimum payment.
Student Loans: $160
This is the combined payment of Hubs and my student loans. Both are in income based repayment, and both payments are rounded up to the nearest $5 increment.
Credit Card 2: $400
Just like with our June and July payments, this wasn’t a spectacular snowball. While this is double the minimum payment that was due, at the same time, I only paid $400 on this. This payment was lower because we had school shopping and some soccer expenses to account for this month. The way due dates lined up for with those two and the credit card, this was a best estimate of what I knew for sure that we could pay this month, without doing our budget harm.
Have you made any large strides towards your debt repayment this month?