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Thursday, November 7, 2019

Saving while paying off debt

We recently decided that R should take a class that,  when completed,  will give him certifications that will increase his income.

We've been in debt payoff mode for a couple years and still want to payoff 12 more bills in 2020. So can we save for this class and still make a dent in the debt?

I've just updated a couple of our trackers and thought I'd share our progress in monthly updates.

As you can see, we have our $1,000 mini emergency fund already funded.  I've added the school next to it and we just started putting money aside for that.  The next one I listed is our change jar savings. It won't be cashed in until next September but I thought it would be fun to track. *This is not all of our savings,  it is simply what I have chosen to share.


Next up is the debt tracker.  Again, this is not all of our debt, it's 9 of the 12 we want to pay off soon. The first one has a $25 minimum payment and the others all have a minimum of $10 monthly. The balances aren't that much so we should be putting extra towards them.


But we really want to get the money for his class built up. Let's see how we do saving as we try to pay off these bills at the same time. We hope to have the school fully funded by April or May.


3 comments:

  1. Good job just putting it out there. Let us know how it goes.

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  2. Good luck! I keep trying to save while spending. Balance. Tis not easy.

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  3. Good luck!!! You can definitely do it!!!!

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