The bad news:
- Due to certain changes (to pay schedule, benefits alterations, and - mostly - losing a freelance gig), our monthly income has been reduced by $551 per month.
- This change reduces our debt snowball from $718 a month to $167 a month.
- Plus, we've had to stop the snowball repeatedly to cover other expenses. Like $1,300 to fix the van. Like to have a baby (the LAST baby, silly, not a NEW baby - yet, ha). Like to reshingle the house this summer. Like the curtains I bought and haven't hung up. Gah.
- Meanwhile, we've run up against our biggest debt yet, the student loans. They currently have a balance of $15,553. It's like chipping away at a granite wall with a fork. A plastic fork.
- Boy am I glad we were snowballing that money in the first place! Imagine if I had to cut $551 out of our actual budget.
- I'm also glad we were snowballing at all, since we're in a much better financial situation than we were two years ago.
- Those expenses? The van, the grumpy baby, the curtains? We've cashflowed them. No new debt, and that's a great thing, yes?
While I'd like to be making more/faster progress on paying off the debt, I think it's time to redefine "success" around here. Sometimes, in some seasons of our lives (and the economy), just keeping our heads above water is a success. Glug glug.