Today I’m going to post our second update on our Baby Step 2 progress. We are almost 30% done with our debt snowball! We had a fantastic month thanks to a much better than expected commission check that my husband received. As the nation’s unemployment crisis continues, we count our blessings everyday that we’ve been one of the lucky families to not only remain employed through the recession but to earn raises as well.
- January 1, 2010 – $70,744.32 (I admit to having this number memorized)
- January 31, 2010 – $66,775.51 (5.7% paid off)
- February 24, 2010 – $66,173.36 (6.5% paid off – we paid cash for a $10k air conditioning unit during February)
- March 23, 2010 – $64,857.78 (8.4% paid off)
- April 30, 2010 – $61,637.78 (12.9% paid off)
- May 15, 2010 – $59,907.40 (15.3% paid off – I measured this mid-month because we broke into the $50s!)
- May 31, 2010 – $52,466.34 (25.8% paid off – we cashed in a small non-retirement mutual fund account and my husband’s commission was larger than expected)
- July 5, 2010 – $49,672.57 (29.8% paid off)
I was hoping to reach the $40k’s by July 1st and we did achieve this goal – yay! I had a slower than normal month in June and only made about $400 extra. This was my fault, though, as I didn’t take advantage of all the work that was made available. The kids had their dance recital and it was just a very chaotic month. I’m planning on capitalizing on July opportunities so that we can speed up our debt snowball again.
