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March Update and I feel fine

March 13th, 2008 at 01:28 pm

Itís a few days early, but I decided to go ahead with my mid month update. My February one, I was feeling like I might not be able to pay down the debt as quickly as I thought. At the end of the month everything worked out and I has a few hundred ahead of target.

Well, last week was one of those stressed week where Murphy puts you to the test. We had my sonís baptism and family had to stay over. This included a donation to the church ($100) and additional food and wine for dinner (people stayed over or house - $150) and party (small brunch party - $75). So, I had to borrow from some envelopes to scrap the cash together. And a very stressed wife. No new debt Ė Iíll take my wins where I can.

So we are closing in on the second week of March and I am actually feeling pretty good. With the paycheck I am getting tomorrow, I well have my envelopes funded where they need to be, a $1,000 in the CC envelope, and $416 in my 401(k).

This should put be on target to pay my minimums plus another $2,000 towards debt, eliminating my credit cards before they start charging interest and starting on paying down the first car.

I also sent in my taxes this week. Bad news Ė cost $400 for the CPA to do it, good news Ė weíre getting $13,400 back between state and local. This is mainly because when I switched jobs they screwed up my medicad withholdings and I paid double.

So, I hope that Iíll get my tax refund in April and most of that will go for debt. Iíll probably skim off about $1,200 for TruGreen to take care of my lawn this summer. The one that services my neighborhood really does a good job and it makes a huge difference. That still leaves $12,200 to go towards debt reduction then in May we get the tax credit. Iíll get $1,800, which will go towards debt.

I am basically hoping that by end of June Iíll have the CC, car 1, car 2, and the wifeís braces paid off. So, Iíll be able to snowball everything into my sonís medical.

So far, March is looking good. Looks like by end of June, Murphyís family will be gone. Murphy will still be at my house, but I told him that heíll have to find a new place by end of the year. But you never know with Murphy, heís a tricky guy and once heís in your house heís tough to get rid of.

2 Responses to “March Update and I feel fine”

  1. mom-sense Says:


    merch, I'm with you that its a success when we don't have to use plastic. My March Murphy was $750 for car repair (ball joints/brakes/new front tires). I am not able to put anything into savings (for upcoming big expenses) or extra toward my cc. Any month without new debt is a good month!

  2. KellyB Says:

    Wow, that's some hefty tax refund! And you are doing great with the pre-planning, isn't it so exciting that you will get to pay off so many bills! Good for you!

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