Sunday, December 15, 2019

Debt Mountain Update Month 1

This first month has been HUGE!

Our current balance is 80.4% of the original balance! 

The scholarship turned loan turned PAID IN FULL was a huge help with this. 

I also ran a Small Business Saturday through Cyber Monday sale for Hire A Housewife and put all
Finding one of these would help, but I'm guessing I should
stick to my current plan in the meantime.
the proceeds towards paying off a credit card, which will save me hundreds of dollars of interest every month.

One of debts I owe involves the IRS. When I first started running my own business I paid dutifully whatever the program said I was supposed to pay. Then, I started getting notices from the IRS saying "We don't know why you are sending us money." So, I stopped sending it until I could get it figured it out. Only, I didn't get it figured out until last year. Now I'm working on catching up those payments as well. I paid two months of pack taxes in addition to what was due this month. 

Thankfully, I'm not "in trouble" with them yet. I'm relatively small potatoes compared to others, I'm sure. I will be fully caught up and on track before we ever have an issue. Although I acknowledge there will likely be some interest on some of this that I'm not yet aware of. 

While I don't expect to know everything in advance, one of the ways I anticipate God helping us with this debt journey is through prospering Hire A Housewife.  It is doing better now than it has in awhile, thanks in large part to our newest customer service specialist who is doing a great job. 

I do not expect to make a dent this big every month.
.. I mean, 20% a month means it would be paid off in five months. But seeing the difference in this first month has helped encourage me to be mindful of my purchases, especially as Christmas comes closer. 

There have also been some other developments that won't likely have an effect on the overall balance for a couple of months, but that have been set off by what I started this month. That credit card that I paid off? They don't want to lose me as a customer, so they sent me an offer to transfer balances from my other cards at a 0% interest rate for 14 months... I'll only need 12, but I'll take it. :-)

With this post I'm over halfway through my "8 posts in one month" challenge from Toastmasters and I have a week to get in four more to pass this challenge.  

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