February was a short month in terms of days but a big month for debt repayment. We managed to eliminate $2,532.86, our biggest month ever! This was in addition to replenishing our emergency fund (about $800) that was depleted from paying some estimated taxes in January. We feel great about what we were able to accomplish this month. It’s even more uplifting knowing that in the next few months, our income is going up and our expenses are going down thanks to the new job.
We were able to pay a big chunk on the personal loan in February and by this time next month, it will be gone. We also started paying on the family loan for personal reasons. We just wanted to get started on it and the family member could also use the money due to some unforeseen circumstances. Another great reason not to get into a family loan. Now onto the spreadsheet!