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March 2017 Debt Accountability

I know I missed February but it wasn’t all that exciting of a month anyway. March had a lot more going on. It included lots of trips to the vet for a sick puppy and a trip out to the Seattle to hang out with my sister and her kids.

Onto my accountability report and my second income report on the blog.

March 2017 Debt Progress Updates

Car Loan: $5,486.27 difference: +$358.63 I put a good chunk of my tax refund towards my car loan, I want this sucker paid off.  

Bar Loan: $8,618.62 difference: +128.40 Refinancing has helped to have more of my payment go towards the principal. This progress is just due to regular payments.

Student Loans: $252,710.48 difference: -$1,273.28 This is just gross. Sadly IBR doesn’t even cover the interest. PSA: Don’t go to law school kids, my original student loan balance was about $193k.

SMART Goals for February

  • Cross the $3k income mark Fail Though I should definitely surpass it in April
  • Finish the blogging course I’ve been taking Pass Just in time to start Elite Blog Academy
  • Put an extra $50 toward debt, this is low but it is a good goal since I’ve gone to full-time self-employment and am working to increase my income. Pass I put way more than $50 towards my car loan

SMART Goals for April

  • Get Car Loan below the $4k mark. A stretch but not impossible.
  • Finish Unit 2 and  Unit 3 of EBA
  • $4k in income, also a stretch but not impossible.
That’s it for my March 2017 Accountability and Income report. What are your goals and how are they going so far? Let me know in the comments below!

Money tools & resources i recommend

Chime (for saving) works by starting a spending account (takes 5 minutes) and opting into the automatic savings plan. (Learn more about getting started with Chime).  Every time I use the Chime Debit Card it rounds up my purchase to the nearest dollar and puts in in savings. Right now they also offer a double round-up bonus on those savings. All those withdrawals add up over time. Chime is free to use, with no monthly fees. With Chime, you end up saving money without having to think about it.

Qapital (for building savings & reaching money goals) Qapital can help you reach savings goals. Once you have the Qapital App installed and a bank account (or in my case three) connected you set up a goal or goals.  Then you set savings rules for each of your goals. For example, I have a round up to the nearest $2 rule, a guilty spending rule -when I buy Dominos. Qapital is free to useBonus, when you use my link you'll get $5 after your first savings.

Qoins (for debt repayment) When you sign up for Qoins, you connect your bank account and then spend as you normally would. Qoins will round up your purchases to the nearest dollar and put that change towards an extra debt payment. Learn more on How Qoins Can Help You Pay Off Debt Faster

SoFi (for refinancing) If you have private loans or your debt to income ratio allows, consider refinancing with a company like SoFi. Learn more about what it's like to refinance with Sofi. Refinancing my bar loan with SoFi ended up saving me over $1,000. Use my link to refinance your student loan and you'll get a $100 bonus.

Liz

Liz is a blogger helping people with personal finance and working for themselves. She shares her own journey to debt freedom and helps graduates dealing with above average student loan debt on her site, Less Debt More Wine. She currently resides in NC after calling Massachusetts home for nearly a decade.

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