May 2017 – $537.08 Closer to Even
May is officially over so it’s time for my first debt progress report. Not a ton of exciting news to report this month as we only improved our debt balance by $537.08. I suppose that’s always better than going deeper into debt, but I’m getting impatient.
Next month should be much better for a few reasons. I get paid biweekly, so I’ll get an 3 paychecks instead of 2. I also made some additional payments towards Student Loan 1 which haven’t shown up yet due to statement timing. Although I’m expecting a larger than usual credit card statement due to our vacation last week to offset this some.
Nothing to break down at this point. All extra payments are going towards Student Loan 1, which I’ve already covered. The $500 is just standard principle pay down as a result of minimum monthly payments (not exactly the glamorous fast-track I had in mind).
If you’re interested in a full picture of our journey out of this hole, you can find my debt progress report here.