Wow! I cannot believe I am already making this post. I have NO idea where April went; however, it was a great month for many reasons!
- We passed the halfway mark of my husband’s deployment. Whoop!
- I got to explore Poland with my husband.
- We paid off our first student loan!
- I found out awesome news about a job promotion. More about that later.
- The weather started becoming beautiful.
The most important as of now is paying off our first student loan 5 years before it was supposed to be paid off! That means we get to start working on paying off our car now. With that being said… how much debt did we pay of??
Total amount of debt paid in April is…. $5204.63!! What an amazing increase compared to March’s total.
You can see on the left that Navient was supposed to be paid off in 2020. I wish I knew how to calculate how much money we saved by paying it off 5 years early. Ill have to do some research on how to figure that out. If you know how to calculate that please comment!
We not only paid off Navient, but we were able to put an additional 589 dollars towards our car loan. Of course you can expect a budget recap within the next couple days. It was a month with another big purchase too :/ But I still think we got a lot accomplished! It feels good to have another loan checked off.
When I first started this blog I remember setting financial goals. Is it bad that I couldn’t remember what those were? Luckily this blog was able to remind me. To see what those goals were check out this post: Financial Goals You will see that we accomplished the goal to pay off this loan by the end of April and that was with two major purchases! I am one happy camper. Maybe I need to write my goals down though to have a daily reminder.
On my debt snowball tool, by paying the minimum payments only, we were predicted to pay off our debt by April 2026. Paying off this loan jumped it up to Dec 2025. By just paying minimum payments, we would be in debt for the next 10 years. Yuck! No thanks. 4 months into the year and I am still as motivated as I was in January. I hope we can keep it up, especially when my husband gets home from deployment. We have A LOT going on once he gets back, so I am a little nervous about reaching our next goal of paying off our car by September. All we can do is just keep on budgeting and controlling where our money goes. I found this quote posted on Dave Ramsey’s Facebook page very fitting for that exact thought.
April has been wonderful for many reasons. I look forward to May. It won’t be as hectic, so I am already brainstorming ideas to blog about instead of just debt and budget updates! Stay tuned 🙂