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25 100s

August 8th, 2007 at 04:16 pm

My first attempt got lost in the ether...

My brother made his first installment to me of 2500 in cash. Its going in the bank today and as soon as it's registered as being deposited (it's cash so that should be almost immediately) here's how it's going to be dispersed:

220 - Wells Fargo Savings to pay back what I'd drawn specifically for him over the course of the year.
709 - Pay off credit card that's supposed to be cleared off completely.
1500 - Put on student loan that's at 13% (current total about $2131)

And the rest (about $70) will be used to buy gifts for my ex-roommate's bridal shower and wedding that's coming up fast.

It'll put my EF really close to my goal of $1000. It'll put a huge dent in my highest interest debt. It'll make it so I have a limit on what to spend on gifts. I will probably still charge the hotel room but I'm sharing it so it'll get paid off right quick.

I am SUPER excited right now!!

My brother and I made arrangements for the rest of his debt. He will repay me $100/mo starting in September and continue in that fashion until he gets his tax return. Then he'll pay the rest of the balance, or at least another large portion of it.

5 Responses to “25 100s”

  1. Aleta Says:

    This must be a tremendous deal off of your mind. Is your student loan your only main debt now. Congratulations on your emergency fund contributions.

  2. Househopeful Says:

    Congrats on almost meeting your goal! Also, I want to say that I think its great that you're helping your brother with budgeting. And that he's willing to accept the help! Great job!

  3. LdyFaile Says:

    Aleta: Actually no I have a small student loan at 13%, a personal loan at 10.9%, a large student loan at 6%, and a credit card at 3.99%. Once I get the small student loan paid off I'll be able to concentrate full force on the personal loan at 10.9%

  4. Aleta Says:

    Well, you are doing well attacking the debt. It is alot of patience and looking for new ways to cut down on expensives and save in other different ways.

  5. baselle Says:

    Congrats - keep the momentum up!

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