STARTER EMERGENCY FUND
We started this month with $100 in our emergency fund. I managed to save $80 total, but I also transferred $95 to checking during the second week of December for Christmas gifts. By the end of the month, we were down to a balance of $85.20.
Emergency Fund Ledger
| $100 | 12/01 Balance |
| +$20 | 12/07 |
| -$95 | 12/11 Christmas gifts |
| +$20 | 12/14 |
| +$20 | 12/21 |
| +$0 | 12/28 |
| +$20 | 12/31 |
| +$0.20 | 12/31 Annual percentage yield |
| =$85.20 | 12/31 Balance |
DEBT SNOWBALL
We paid a total of $842.68 toward our debt in December, and I paid off my credit card!
Capital One Credit Card Ledger
| $119.73 | Balance |
| -$29.93 | 12/07 |
| -$29.93 | 12/14 |
| -$59.87 | 12/21 FINAL payment! |
| $0.00 | Balance |
Debt Snowball Ledger
| Ashton’s Google Pixel XL | |
| $320.42 | Start amount |
| $32.04 | Payment amount |
| $288.38 | Balance remaining |
| Amber’s Google Pixel XL | |
| $352.46 | Start amount |
| $32.04 | Payment amount |
| $320.42 | Balance remaining |
| 401(k) loan #1 | |
| $1,224.16 | Start amount |
| $236.72 | Payment amount |
| $987.44 | Balance remaining |
| Ashton’s USAA Vehicle Loan | |
| $4,303.85 | Start amount |
| $317.15 | Payment amount |
| $3,853.18 | Balance remaining |
| 401(k) loan #2 | |
| 5,939.37 | Start amount |
| $105 | Payment amount |
| $5,878.56 | Balance remaining |
| Total Debt as of 01/02/2018 | $11,327.98 |
JANUARY 2018 GOALS
Emergency Fund: Continue to save $20 per week.
Debt Snowball:
- Pay off both Google Pixels. In order to do this, I have to save money every week in a sinking fund because the only two options are to pay the minimum according to the payment plan (automatically deducted from checking) or pay off the device balance. There’s no option to pay extra.
- Maintain the minimum payments on the other debts, of course.
