October 16th – Weekly Update – Gifts, Gifts, & Gifts

Welcome back!  Last week was so eventful literally as soon as I was finished writing the blog post for last week.  We had an amazing gift sent to us.  No snowball payment this week so all debt paid was from gifts or side hustling.  Let’s get into the week!

Snowball

Last week I hoped to be in a position to pay off the Chase credit card by the end of October.  We were on pace to accomplish that but it was done way faster.

Thanks to Covid our wedding was changed from an in person ceremony with some family to going to a Justice of the Peace.  With that we were gifted a $1,000 from in-laws that was originally sent to a photographer.  We purchased two keepsakes as a reminder of the love from the people who gave us the gift.  After these two purchases we had $700 left and that was used to pay off the Chase card completely!  I used the rest of my pay check snowball payment to attack the Wells Fargo credit card.

I got use to being able to make as many credit cards payments as I wanted.  No matter the amount however big or small.  What I learned with Wells Fargo is unbeknownst to me you can only make three non-Wells Fargo bank payments.  I am not sure if this is a weekly limit or monthly limit yet.   Three payments have already been sent this month and I would get a message telling me I had to call in to make more payments.  I waited a day and was able to make another payment but after that I got the error message again.

This is a slight inconvenience I liked to make payments as things sold from side hustling.  This card is interest free so I may just put the money in an account until I have enough to pay off the card.

Currently we have $2207 left to pay to Weals Fargo. The current goal is to pay it off before December.  We are on track to do that so wish us luck.

I don’t remember if I discussed this in the blog or not.  We got Discover to lower our current apr interest rate and got 0% on new purchases until next November.  I have no intent to use the card for new purchases but I just took it.

We have three credit cards left in the snowball!  Then we are going to save up for some cardio equipment, create a bigger emergency fund, and then start attacking my wife’s student loans. We still have a ways to go but it is amazing to be able to see an end to this credit card debt.

I did some math on my Disover card basically from today to the projected payoff date in May we will have paid $563 in interest.  I like to see these calculations just for my information.  It also lets me know while the interest sucks it isn’t that prohibitive or enough for me to reconsolidate or something.  Also some motivation to pay off as fast as possible to save on some interest.

We have not been eating out as much.  This has been a great burden lifted from our budget.  The grocery budget is really getting tested though.  I will have to have a conversation with the wife about if we have enough budgeted for the month or not.    In my opinion we can make it work but we’ll have to see what she thinks.  Not eating out has saved money and I am down 11 pounds from dieting this week.  My clothes are already fitting better I was getting to the point were it was if you keep eating you are going to need some new clothes.  I definitely didn’t want to that now.

Side Hustle

No Facebook Marketplace transactions to mention.  Ebay is still going strong but I need to list some more inventory though.  I have one weird transaction were eBay said they had to cancel the bid of someone who had already paid for their item.  So we’ll have to monitor what happens with that situation.  I need to go through the closet again because there’s still a bunch of stuff in there that I’m not currently wearing.  That’s basically it on the side hustle front for right now.

Wrap-Up

We are gearing up to make a snowball payment this week.  It’s also a second check snowball payment so we get to clear over a grand in debt!  This journey has me really excited about a future with no payments.  The only time I remember having no payments was when I was fresh out of college living at home with my parents with no bills taking home about $2,000 a month.  It wasn’t a lot but it was all mine no mortgage, no creditors asking for money monthly or anything.  I need that again!

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