Today was a great mailday! I got notification from EDFUND (My educatonal loan company). In the letter it said the following:
DEAR *MRSFRUGALISTA* (Not really lol)
EdFund is happy to certify that your defaulted student loans listed below have been satisfied the requirements of the Loan Rehabilitation program as of the date of this letter. The following loans are no longer in default and all negative remarks made by EdFund will be deleted from your credit recordsd within 60 days of the date of rehabilitation.
Yipee!!! Its being transferred to another bank, and I still owe less than 1k. But, its out of default and I’m almost done with it and My credit will improve.
Its a great day!
A BIG Woo-Hoo! Definitely in order!!!
We have paid off over $7000 since last September!!!! That is 7 months, so roughly about $1000 a month! That is awesome!!!!
I look forward to get to 100% paid off! That is my goal for this year. I think that is hard to reach, though
Time to update since its officially April!!!
To recap last Months standings:
Debt Payoff-25.1%
Emergency Fund-40.7%
Christmas Fund-47.5
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April 1st, 2010 Standings:
Debt Payoff: 31.6%
Emergency Savings: 30.4% (went down about 10 % bc I had an emergency! Thats what its there for!)
Christmas 2010 Fund: 54%
My aspirations for this month of April:
To be at 37% for debt payoff
To be at 35% saved for Emergency Savings
To be at 60% for Christmas 2010
Christmas 2010 is now up to 51% (up 1% from last update)
Emergency Savings Fund up to $30.4%
Debt Payoff 30.4%
Steady progress is the best 
I’m so glad its Friday? Why?
1. I don’t work this evening 
2. Its the weekend, and I only work my 2nd job and will have some down time
Speaking of Friday, Its MEGA SWAGBUCKS DAY! Be searching and grab those Bucks!!!
STATS UPDATE:
Debt Payoff: 28.3% (Previously at 27.7%) *Hey its not yet a point higher, however it is moving in the right directions and I’m pleased*
Emergency Savings Fund: 26% *Not quite at the level I would want, but we have had to pull a little from it lately, but that is why we have an emergency fund, right?*
Christmas 2010 Fund: 50% ***Halfway Mark and Christmas is still 9 months away!!! I still aiming this to be fully funded by June
Progress made in the first 5 days of March:
Christmas 2010 47.5%
March Specialized Debt Payff $155.60 **($1138.40 remaining this month)
Emergency Savings: 36.3% (did have to take out a tiny bit for a emergency last week)
Debt Payoff: 27.7%
***Watch for a new update next week***
February is almost over. So, I decided to go ahead and give my stats, since they aren’t going to change til next week which will be a new month!
Just to recap:
End of January,2010 standings:
Debt Payoff: 6.6%
Emergency Savings Fund: 34.8%
Christmas 2010 Fund: 33%
Financial Aspirations for February,2010:
Pay off debt “N”
To get Debt Payoff to 8% paid off by the end of February,2010
To build emergency fund to 45% funded
To build Christmas 2010 fund to 44% funded
First of all, I did finish paying of the little education debt! So, its off my list now! Wahoo!
FEBRUARY, 2010 Standings
Debt Payoff-25.1% PAID OFF
Emergency Fund-40.7% Missed my goal by a little, but I’m getting close!
Christmas Fund-47.5 I actually went well over my goal. However truth be told, I got a couple gift cards from my boss, so I just added that to the Christmas fund! They don’t expire, so they’ll be ok!
Now for MARCH,2010 Goal. I’m going to concentrate on paying off a personal loan that is on the list. It is for $1294. I really want it paid off by the end of April. But, I’m going to see how much progress I can get for this month! Wish me well!!!
I am still making progress which is the goal here. December was a little tough, and we had a little set back with the holidays. But, Bringing back up the debt payoff to 6.6% now. The one thing I did though at the end of last year was start a Christmas, 2010 Christmas savings fund, which I’m progressing nicely toward. I’m *hoping* by June for it to be fully funded!
I would love to pay off one debt every month. However, I’m not sure if that is realistic. One education debt is almost paid off, only need to pay $51 more dollers so that will paid probably next week and that is one down.
End of January,2010 standings:
Debt Payoff: 6.6%
Emergency Savings Fund: 34.8%
Christmas 2010 Fund: 33%
Financial Aspirations for February,2010:
Pay off debt “N”
To get Debt Payoff to 8% paid off by the end of February,2010
To build emergency fund to 45% funded
To build Christmas 2010 fund to 44% funded
Slowly but steadily, I’m getting it done!
So, it is a new year and you want to change your ways and transform your financial life. As I’ve stated before, you must follow some steps.
I will go over step 2: Stop Adding to debt.
So, what does that mean exactly?
You will want to stop using your credit cards. Pay cash instead. I know that may be hard to do, as it is so much easier just to “pay later”. I honestly believe that if you don’t have money to pay for it in cash (or debit card) than you shouldn’t buy it at all!
Don’t apply for new credit cards, lines of credit, New cars,etc… You don’t need those things. Start paying off your existing debt and start increasing your savings.
If you think your car is going to “die” so to speak, in the near future… Then, start NOW saving for a car. You will feel so much better being able to buy one in cash without financing it. Your wallet will thank you,too! Really think hard and long if you really need that 2010 brand new shiny car!!
Its almost December, already! I began paying off the debts in October. In less than 2 months, I’ve already reduced my debt by 5.2%!
In November, I started the Christmas Savings Fund for 2010 and the Emergency Fund.
Christmas Fund—I’ve saved 13.8%
Emergency Savings Fund—I’ve saved 19.5%
I really am hoping by this time next year, I’ll be at the 50% mark for Debt Payoff and 100% for the savings funds. I’d like to increase my savings in other areas, as well as hit my debts more agreesively.
