The race

A few days ago I shared a picture of our Baby Steps Plan.  I wanted to do one better and give you a quick snapshot of where we are in our plan.  I wish I could also give you our time table but that, alas, has gone out of the window since GJS (the husband) was laid off.  (We were on track to pay off the mortgage by December 2014 and the last student loan payment would have been sent in September 2015.  The emergency fund would have been fully stocked 5 months later.)

·         3-6 months emergency savings goal $10,000.  We are at $3,153.81.

·         We owe $57,342.37 on the mortgage.

·         We owe $4,208.16 on 1st student loan to AES.

·         We owe $13,058.24 on 2nd student loan to AES.

·         We owe $13,250.56 on 1^st student loan to Sallie Mae.

·         We owe $14,553.18 on 2^nd student loan to Sallie Mae.

Now, our focus is the emergency fund.  As soon as we have socked away $10,000 we can get back to debt elimination.  I think we should have about $7,000 or $8,000 to contribute to the emergency fund by the end of the month.  It is a lot to digest.  We were poorer when we got married than we’ll likely ever be again in our entire lives.  We’ve made progress.  This is a marathon, not a sprint.  We’re only around mile 3 or 4 and I predict it will only get harder from here.  But we will get there, one baby step at a time.