When paying off the mortgage, a big and long paying debt, we made mini milestones related to the balance owed. Exactly what they were, switched up and sometimes multiple times per year. The summary was that they were meaningful at the time. It began with how many years we could chop off, on and off it was related to how much interest was saved, on and off it was how much principle was reduced. These mini targets made the big debt feel more like multiple smaller debts.
I love that Terry! I think having my those smaller goals is so helpful when you are dealing with large amounts of debt. It does help to keep you excited and on track!
Great video! Here’s one way to stay motivated during debt payoff, walk around the house and look at the items you have bought and put on a credit card that now you own. Then walk out to the garage and look at the SUV, remember, you don’t own it the bank does. Another thing you can do is take out a piece of paper, do this month’s budget again, and look at how much money you will have left over when you don’t have any debt to pay off. 🎉❤😮
Ahhh I do need to make a budget with it debt! I have don’t that before, and it is so motivated. I haven’t done it in a while, so it’s time! Thank you 😄
Between a three paycheck month and the month after, it is a good time to get a month ahead on a bigger bill or a couple of smaller ones. Ultimately you get your account(s) paid to the point that you are perpetually paying 1 month ahead forever more after. For myself, it brings a sigh of relief that those bills are taken care of should anything major happen; at least enough time to figure things out and make adjustments.
That’s so true! We are ahead on most of our bills now, so that feels good. We are not ahead on some of the smaller bills like water, internet, gas, and electric, so maybe I need to get ahead on those…just in case!
@@KatieoftheHouse We have run about one month ahead on actual bill payment more times than not for more years than not. It prevents late charges while eliminating that " i gotta pay today" pressure. It has saved our bacon more than once and other times we've "cashed in" that buffer (or skipped a month's payment) to buy what I will call a toy; something more in the wants list even if it was a tool or other that could/ could not have saved money or time. FIRST, it is important that your provider be capable and willing to accurately keep your extra payment on the books; and over a business quarter or calemdar year rather than cut you a check or lose your extra payment in thier system. SECOND, it is important that you not detrimentally cut into your cash flow and other financial goals to do so; or literally eat beans and rice unless preparing for a known income reduction/ loss. You must consider any bills you pay ahead being as productive as cash sitting in a sugar bowl in the cupboard at home. A possible exception being how and what they look at fkr a major loan like a mortgage; depending how they calculate, it becomes a part of your net worth or something similar (old school, assets and liabilities statement). Like slowly built sinking funds, we have more often than not built up a month ahead on utilities by paying a rounded up (keeps the budget math easier too) amount estimated to be more than what's needed to pay the routine bill. When we've run electric heat, we have estimated the average (on a high amount) extra we'll need for the winter and self prorated that amount over the non-winter months or even all 12 months as our starting point. For you, it may be the air conditioning months. The extra, how its been accumulated, and how its been used has over all been sorta loosey-goosey under the term "flexible" but we've had periods of more and also less fiscal purpose as well as income variations with less cash flow in even our plentiful times.
I transferred 500 dollars to my sister to help cover the costs of our trip to Albuquerque balloon fiesta ! When you don’t have debt you travel !!! Glenda
I understand exactly what you’re saying!! It’s all normal I agree!! You’re amazing Katie…. your ability to stay in the grind is so inspiring to watch…. I love your consistency and transparency. You know I am rooting for you 100%.
Good morning Katie. Stay aware of your feelings on this. Do not let yourself get so discouraged that you throw in the towel and give up. If you sense that, loosen up a bit. It is not lack of discipline to adjust your plan. Fear is a good motivator, but it also is a negative emotion you are using to do something that is such a positive thing. I am not sure if that makes sense but focus on the future freedom and not the past lack of it. Keeping things positive will always help to motivate. I have faith that you will manage these feelings as you are always on top of everything.
Oh wow, I’ve never thought of it in that way before, Dee. Fear is a negative emotion, and maybe I shouldn’t be using it as a tool. You are so wise and always give me something to think about. I will try to adjust my mindset and focus on the good things that will come out of debt payoff. Old habits die hard, but I will certainly try. Thank you, Dee 🧡
In part, the Dave Ramsey steps are designed to get you being able to pay debt, get you so busy paying off debt you don't become complacent, then get you still feeling fear from your debt balances. And yes playing the what if a significant portion of the income disappeared over night or even with a couple of months head start can be pretty motivating.
@@KatieoftheHouse Your family is doing a pretty good job of balancing debt repayment, sinking funds, and all the rest. Be aware of some possible, less favorable scenerios but don't overly stress. If a worse case scenario were to happen, you have and are building enough cushion to give you enough time to financially downsize and survive. My gut feeling is that every $1000 of debt liability reduction gives you that much more breathing room and provides that many more opportunities should something truly bad happen. Very seriously, do consider researching estate lawyers in your area to find out what thier general costs are. In terms of finances, if either one of you gets hit by a bus on the street corner and dies or doesn't die it would change your whole financial worlds. Exactly what you should or should not have does vary a bit state by state. In many states if there is no will the wife, oldest child (in some oldest male child only), the parents, and then the oldest sibling "get the estate" but 50% of its value goes to the state in taxes. With a will, the state taxes start to become significantly diminished; again on a state by state basis. There are some documents beyond a will, some approaches and things, plus more that can be done to protect the assets. They can begin to protect assets in the case of income ending injury and illness too; again this differs state by state.
For me it’s this time of year. We’ve worked hard on our garden all year and financial goals still seem far away. BUT ITS ALL WITHIN REACH! Don’t ever give up on yourself personally, financially, or spiritually!
Thank you so much, Niki!! 💙💙 I appreciate that, and I promise I won’t give up. I do think it may be the time of year as well. We’ll keep on keepin’ on though 😃
My early years were spent as a stay at home parent. That was when my hubby had some health scares. I know that fear feeling. Thankfully he’s quite healthy now and I enjoy cheering people on. Good transfer week!!!
Hey Katie! ❤😊 Yes, it's basically FU money, but "walk away fund" looked nicer on the cash envelope. 😂 100% understand the burn out. I currently take care of a parent w/ multiple sclerosis, so I remind myself to keep going so that we can be in a better place. 😊 Not much saved this week but a $1 saved is still great! Outside of my mandatory savings, I transferred $5 to the Walk Away fund & $11 to travel. 😁
I love the walk away fun! You are so right that any dollar saved is still great, and it’s one step closer to your goals! You are a saint ❤️ I know it can’t be easy to be a caregiver to a parent. I’m so glad they have you though!
This is exactly what I say to myself after almost 2 years into debt payoff, I say look how far I’ve come and more importantly look at how much I will have for savings and investments once I’m done
That’s a great motivator, isn’t it?! Thinking about what we can someday do with all of the money we are currently putting to debt definitely makes me more motivated to get rid of it ☺️
In our state, employers are required to pay thier employees any and all un-used vacation monies owed with the last paycheck despite the reason for separation; they are seen as a part of the overall compensation package. They are NOT required to do any any pay-out for sick day pay not used nor any bonuses one might receive for not using thier sick leave. A few companies will let you "bank" or save up sick leave days for forever in case the employee encounters something significant and medical; most which allow some accural do somfor 2 years only. The personal time off is neither a vacation nor a sick day but increasingly its being treated like vacation time in terms of compensation. One way to bank a little extra towards a separation, medical things of yourself or family member, or take aclonger single vacation is to try to bank some of those sick days and also vacation or personal time off. This does vary state by state, contract by contract if unionized or also on a contract, and employer by employer. This said, workers who take at least some vacation have been shown to be more productive.
I don’t think Marc’s employer allows you to bank PTO. They count all leave as paid time off, unless it falls under short/long term disability. I think the max time they are allowed to roll over into the next year is 5 days. However, I am kind of glad that he had to take his leave because he definitely does need it. ☺️
@@KatieoftheHouse Consider some short term get-aways that involve only 1 or 2 nights away from home, dont take hours to get there and back, and are relatively inexpensive. Your schedule is somewhat flexible although with the babysitting job, not as much as it was. Theoretically, as home schoolers the boys' schedules are completely flexible (lol and ha-ha). Part of taking a vacation is getting away from your routine square mile(s) of dirt, escaping your daily routine and pressures, sleeping in, and seeing something new or different. I'm thinking of something for which Marc's primary responsibility is simply getting his body in a car or on a plane and not keeping so busy that returning to work is more relaxing than the "vacation". - For a while there, off season and off day plane travel to a couple of different cities was inexpensive while only being a 30 to 60 minute plane ride away in this area. Of course getting boarded onto a plane now takes 2 to 6 tedious hours but, think out of the box. Pick a single place to visit when you hit your destination and enjoy it be it a picnic table under some trees, a zoo, a museum, etc...
Yes, i am looking foreward to the summary August debt and savings numbers! Three paycheck months and windfall sums almost always make the charted numbers look extra exciting. Still, you are at a point in your Fed loan #5 journey that every month looks brighter and brighter.
Thank you, Terry! I really am very excited to make that debt update video. Each month does look brighter and brighter, and I’m so thankful that we’ll be under 6 figures soon!! 😄
@@KatieoftheHouse Under 6 figures is a big, big milestone from your initial debt profile. Consider making the next big milestone under $50k. If things go the way they are and without considering the realities of the actual numbers, im guessing a $50k milestone could be met in 2025 depending upon what you start sinking into the assorted savings and investments.
We made our usual monthly mortgage payment and decided to round it up to the next $100. We have a 6.625% interest rate and would like to pay it off quicker if we can. We just bought our house in July so it will still take a very long time to pay off our mortgage but if we keep this up it takes 1 year and 7 months off our loan!
That’s amazing how much just rounding up to the next hundred can save you off of interest! I hate that interest rates are so high right now, but I’m glad you are sending extra. It adds up!
Hi Katie, I’m Kaja, love your channel. I just started my very own Roth. Not sure if I’ll be able to max it out however I have transferred $100 & plan to do so biweekly. My husband does his investing through his employer.
That’s amazing, Kaja! Congrats on getting it started. It doesn’t matter if you can’t max it out this year. If you are making a habit to invest, that’s all that matters! You’ll build it over time 🎉💕
I totally get the burn out feeling. I get it too but try to keep pushing as much as possible. I recently put an extra 200 on my LOC . I've been putting 50 a week on auto pay and then any extra I get weekly, I put on it as well . Awesome job with your transfers katie! ❤❤❤
Hi Katie! Burnout is definitely very real with any goals just like you explained! ❤ but I’m so happy for you guys! Such a great amount paid to fed loan 5! ❤
We paid off 100K in 4 years- we didn’t invest anything during that time we just paid the debt as fast as possible and thankfully so because I couldn’t imagine doing it any longer 🤣 3 years later and we’re saving and investing and doing well!! Hang in there.
Likewise we paid off 136K in just under 5 years. And did little investing then but now we are saving/investing 50% of our income. Plus we have a decent emergency fund (almost a year) and that has really improved our enjoyment of life.
@@thomaschew2191 yeah it was the best thing for us to pause investing and just get those chains of debt off our backs! And we can invest all we want now!
Hi Katie, great transfers! I agree, motivation is fleeting but determination and making a habit of doing thing to help u succeed will get u there even when u dont feel motivated to. Most of the time its not if something happens, its when...
Hey Katie! You guys are doing great and I can imagine the feelings that are there for you paying off such a great amount of debt. You know, I just started getting back fully into making and watching videos so I couldn’t give you my transfers last month. For July, we sent an additional principal payment of $1,106 for our personal loan. For August, it was an additional $879 that we sent toward that debt. My plan is to get somewhere in the middle of those two numbers this month!
Great video- I’m feeling a bit of budget burn out as well right now. I, too, have to trick myself to stay motivated to stick to the budget. Thanks for your honesty and always keeping it real!
Thanks, Brooke! I’m hoping that it’s temporary. I know making new goals for the beginning of the year usually makes me excited again, so I just need to push through until then ☺️
Good morning ❤ I appreciate you showing us how you get yourself to keep moving on with this hard journey. Awesome job to everyone for all the hard work paying off debt. Have a wonderful day
Hi Katie, you are doing great! Keep up the great work! I gave $700 to my sister and finally paid her off after 10 ish years. She has been very patient with me. Lol
You didn't sound like you weren't going to focus on debt, it just sounded like you were getting close to the burn out. If you can, try to make sure that you are taking it a bit easy at some point. Don't burn yourself out and push too hard! It is not worth getting a total burn out and being unable to continue. We were paying off since 2018, that meant that we were at it for 5 years to get the student loans and car loans paid off, it is a marathon so please don't go to hard! Well done with all the transfers everyone! We sent €4,72 from change to vacation, €3,46 cashback to the Window Replacement Fund, and €53,82 monthly interest in our EF that remained in there.
That’s good advice, Sara! I definitely do feel a bit burned out. I really want to get Fedloan 5 paid off this year, and I’m going to try to keep pushing for that, but maybe once we accomplish that, I will chill out a bit to avoid any further burn out because the last thing I want is to make myself miserable and want to give up 😫
Completely understand everything you said. I am 3 years away from being consumer debt free (majority is a HELOC). I just found out this week that my company is being purchased by a major corporation. I’m middle management so my job is at stake. I’ve made the decision to pause paying so much to debt to build up my emergency fund. Ugh!! Now I’m not sure of my debt free time line. Life happens when making plans, right? 🤦♀️
Oh no, Debbie. I’m so sorry that you have to worry about your job right now. It sounds like you are doing the wise thing to build up your EF while you can. I hope you don’t have to use it, but it’s good to have it there if you need it. I believe in prayer, and I’ll send up some for you 💙
When paying off the mortgage, a big and long paying debt, we made mini milestones related to the balance owed. Exactly what they were, switched up and sometimes multiple times per year. The summary was that they were meaningful at the time. It began with how many years we could chop off, on and off it was related to how much interest was saved, on and off it was how much principle was reduced. These mini targets made the big debt feel more like multiple smaller debts.
I love that Terry! I think having my those smaller goals is so helpful when you are dealing with large amounts of debt. It does help to keep you excited and on track!
@@KatieoftheHouse It can work when you're accumulating a large amount of savings too.
Transferred $860 and payed off a personal loan after 3 years!! 🎉 great video and good job with your payoff 😊
Woohoo! Huge congrats to you!! 🎉
Great video! Here’s one way to stay motivated during debt payoff, walk around the house and look at the items you have bought and put on a credit card that now you own. Then walk out to the garage and look at the SUV, remember, you don’t own it the bank does. Another thing you can do is take out a piece of paper, do this month’s budget again, and look at how much money you will have left over when you don’t have any debt to pay off. 🎉❤😮
Excellent idea !
Ahhh I do need to make a budget with it debt! I have don’t that before, and it is so motivated. I haven’t done it in a while, so it’s time! Thank you 😄
Between a three paycheck month and the month after, it is a good time to get a month ahead on a bigger bill or a couple of smaller ones. Ultimately you get your account(s) paid to the point that you are perpetually paying 1 month ahead forever more after. For myself, it brings a sigh of relief that those bills are taken care of should anything major happen; at least enough time to figure things out and make adjustments.
That’s so true! We are ahead on most of our bills now, so that feels good. We are not ahead on some of the smaller bills like water, internet, gas, and electric, so maybe I need to get ahead on those…just in case!
@@KatieoftheHouse We have run about one month ahead on actual bill payment more times than not for more years than not. It prevents late charges while eliminating that " i gotta pay today" pressure. It has saved our bacon more than once and other times we've "cashed in" that buffer (or skipped a month's payment) to buy what I will call a toy; something more in the wants list even if it was a tool or other that could/ could not have saved money or time.
FIRST, it is important that your provider be capable and willing to accurately keep your extra payment on the books; and over a business quarter or calemdar year rather than cut you a check or lose your extra payment in thier system. SECOND, it is important that you not detrimentally cut into your cash flow and other financial goals to do so; or literally eat beans and rice unless preparing for a known income reduction/ loss. You must consider any bills you pay ahead being as productive as cash sitting in a sugar bowl in the cupboard at home. A possible exception being how and what they look at fkr a major loan like a mortgage; depending how they calculate, it becomes a part of your net worth or something similar (old school, assets and liabilities statement).
Like slowly built sinking funds, we have more often than not built up a month ahead on utilities by paying a rounded up (keeps the budget math easier too) amount estimated to be more than what's needed to pay the routine bill. When we've run electric heat, we have estimated the average (on a high amount) extra we'll need for the winter and self prorated that amount over the non-winter months or even all 12 months as our starting point. For you, it may be the air conditioning months. The extra, how its been accumulated, and how its been used has over all been sorta loosey-goosey under the term "flexible" but we've had periods of more and also less fiscal purpose as well as income variations with less cash flow in even our plentiful times.
I transferred 500 dollars to my sister to help cover the costs of our trip to Albuquerque balloon fiesta ! When you don’t have debt you travel !!! Glenda
Ooo I have never been but it looks lovely! Have so much fun 🎈🌅
That sounds amazing, Glenda! And yes, yes, yes to traveling without debt! 🙌🏼🧡
I understand exactly what you’re saying!! It’s all normal I agree!! You’re amazing Katie…. your ability to stay in the grind is so inspiring to watch…. I love your consistency and transparency. You know I am rooting for you 100%.
Thank you so much, Melissa! I cannot tell you how much I admire you and appreciate you 🥹❤️
Good morning Katie. Stay aware of your feelings on this. Do not let yourself get so discouraged that you throw in the towel and give up. If you sense that, loosen up a bit. It is not lack of discipline to adjust your plan. Fear is a good motivator, but it also is a negative emotion you are using to do something that is such a positive thing. I am not sure if that makes sense but focus on the future freedom and not the past lack of it. Keeping things positive will always help to motivate. I have faith that you will manage these feelings as you are always on top of everything.
Oh wow, I’ve never thought of it in that way before, Dee. Fear is a negative emotion, and maybe I shouldn’t be using it as a tool. You are so wise and always give me something to think about. I will try to adjust my mindset and focus on the good things that will come out of debt payoff. Old habits die hard, but I will certainly try. Thank you, Dee 🧡
In part, the Dave Ramsey steps are designed to get you being able to pay debt, get you so busy paying off debt you don't become complacent, then get you still feeling fear from your debt balances. And yes playing the what if a significant portion of the income disappeared over night or even with a couple of months head start can be pretty motivating.
It’s definitely an effective tool to make you want to get out of debt fast! I hate thinking of worse case scenarios, but if it works…😅
@@KatieoftheHouse Your family is doing a pretty good job of balancing debt repayment, sinking funds, and all the rest. Be aware of some possible, less favorable scenerios but don't overly stress. If a worse case scenario were to happen, you have and are building enough cushion to give you enough time to financially downsize and survive. My gut feeling is that every $1000 of debt liability reduction gives you that much more breathing room and provides that many more opportunities should something truly bad happen. Very seriously, do consider researching estate lawyers in your area to find out what thier general costs are. In terms of finances, if either one of you gets hit by a bus on the street corner and dies or doesn't die it would change your whole financial worlds. Exactly what you should or should not have does vary a bit state by state. In many states if there is no will the wife, oldest child (in some oldest male child only), the parents, and then the oldest sibling "get the estate" but 50% of its value goes to the state in taxes. With a will, the state taxes start to become significantly diminished; again on a state by state basis. There are some documents beyond a will, some approaches and things, plus more that can be done to protect the assets. They can begin to protect assets in the case of income ending injury and illness too; again this differs state by state.
For me it’s this time of year. We’ve worked hard on our garden all year and financial goals still seem far away. BUT ITS ALL WITHIN REACH! Don’t ever give up on yourself personally, financially, or spiritually!
Thank you so much, Niki!! 💙💙 I appreciate that, and I promise I won’t give up. I do think it may be the time of year as well. We’ll keep on keepin’ on though 😃
My early years were spent as a stay at home parent. That was when my hubby had some health scares. I know that fear feeling. Thankfully he’s quite healthy now and I enjoy cheering people on.
Good transfer week!!!
Thanks, Debra! I’m glad your hubby is healthy and doing well now. It really is scary to only have one income to rely on sometimes.
Hey Katie! ❤😊
Yes, it's basically FU money, but "walk away fund" looked nicer on the cash envelope. 😂
100% understand the burn out. I currently take care of a parent w/ multiple sclerosis, so I remind myself to keep going so that we can be in a better place. 😊
Not much saved this week but a $1 saved is still great! Outside of my mandatory savings, I transferred $5 to the Walk Away fund & $11 to travel. 😁
Prayers to you and yours ! Caregiving is impossibly hard ! Glenda
I love the walk away fun!
You are so right that any dollar saved is still great, and it’s one step closer to your goals!
You are a saint ❤️ I know it can’t be easy to be a caregiver to a parent. I’m so glad they have you though!
This is exactly what I say to myself after almost 2 years into debt payoff, I say look how far I’ve come and more importantly look at how much I will have for savings and investments once I’m done
That’s a great motivator, isn’t it?! Thinking about what we can someday do with all of the money we are currently putting to debt definitely makes me more motivated to get rid of it ☺️
I didn’t get the quitting vibe at all from you last week. You were just being open and honest.😊❤😊 Thank you for the shout out & the positive vibes
Thank you, Cat! You are the best!
In our state, employers are required to pay thier employees any and all un-used vacation monies owed with the last paycheck despite the reason for separation; they are seen as a part of the overall compensation package. They are NOT required to do any any pay-out for sick day pay not used nor any bonuses one might receive for not using thier sick leave. A few companies will let you "bank" or save up sick leave days for forever in case the employee encounters something significant and medical; most which allow some accural do somfor 2 years only. The personal time off is neither a vacation nor a sick day but increasingly its being treated like vacation time in terms of compensation. One way to bank a little extra towards a separation, medical things of yourself or family member, or take aclonger single vacation is to try to bank some of those sick days and also vacation or personal time off. This does vary state by state, contract by contract if unionized or also on a contract, and employer by employer. This said, workers who take at least some vacation have been shown to be more productive.
I don’t think Marc’s employer allows you to bank PTO. They count all leave as paid time off, unless it falls under short/long term disability. I think the max time they are allowed to roll over into the next year is 5 days. However, I am kind of glad that he had to take his leave because he definitely does need it. ☺️
@@KatieoftheHouse Consider some short term get-aways that involve only 1 or 2 nights away from home, dont take hours to get there and back, and are relatively inexpensive. Your schedule is somewhat flexible although with the babysitting job, not as much as it was. Theoretically, as home schoolers the boys' schedules are completely flexible (lol and ha-ha). Part of taking a vacation is getting away from your routine square mile(s) of dirt, escaping your daily routine and pressures, sleeping in, and seeing something new or different. I'm thinking of something for which Marc's primary responsibility is simply getting his body in a car or on a plane and not keeping so busy that returning to work is more relaxing than the "vacation". - For a while there, off season and off day plane travel to a couple of different cities was inexpensive while only being a 30 to 60 minute plane ride away in this area. Of course getting boarded onto a plane now takes 2 to 6 tedious hours but, think out of the box. Pick a single place to visit when you hit your destination and enjoy it be it a picnic table under some trees, a zoo, a museum, etc...
Yes, i am looking foreward to the summary August debt and savings numbers! Three paycheck months and windfall sums almost always make the charted numbers look extra exciting. Still, you are at a point in your Fed loan #5 journey that every month looks brighter and brighter.
Thank you, Terry! I really am very excited to make that debt update video. Each month does look brighter and brighter, and I’m so thankful that we’ll be under 6 figures soon!! 😄
@@KatieoftheHouse Under 6 figures is a big, big milestone from your initial debt profile. Consider making the next big milestone under $50k. If things go the way they are and without considering the realities of the actual numbers, im guessing a $50k milestone could be met in 2025 depending upon what you start sinking into the assorted savings and investments.
We made our usual monthly mortgage payment and decided to round it up to the next $100. We have a 6.625% interest rate and would like to pay it off quicker if we can. We just bought our house in July so it will still take a very long time to pay off our mortgage but if we keep this up it takes 1 year and 7 months off our loan!
That’s amazing how much just rounding up to the next hundred can save you off of interest! I hate that interest rates are so high right now, but I’m glad you are sending extra. It adds up!
Over $500 extra to our mortgage principal this month.🎉
Heck yeah! Awesome work!
Hi Katie, I’m Kaja, love your channel. I just started my very own Roth. Not sure if I’ll be able to max it out however I have transferred $100 & plan to do so biweekly. My husband does his investing through his employer.
That’s amazing, Kaja! Congrats on getting it started. It doesn’t matter if you can’t max it out this year. If you are making a habit to invest, that’s all that matters! You’ll build it over time 🎉💕
I totally get the burn out feeling. I get it too but try to keep pushing as much as possible.
I recently put an extra 200 on my LOC . I've been putting 50 a week on auto pay and then any extra I get weekly, I put on it as well . Awesome job with your transfers katie! ❤❤❤
I love that you have auto pay AND you send extra when you can! Hopefully it will be gone in no time!
Hi Katie! Burnout is definitely very real with any goals just like you explained! ❤ but I’m so happy for you guys! Such a great amount paid to fed loan 5! ❤
Thank you so much, Lina! We’re trying to push through 😊
Great update and I also look back when I first started investing to where I’m at now to continue to stay motivated!!
It really works to look back at how far you’ve come! 😄
Hey Katie! It is super normal to feel that way! U r doing awesome on ur journey 💗💗
Thanks, Izzy! I’m trying to stay positive. It’s hard sometimes, but I know we’ll do it 😄
We paid off 100K in 4 years- we didn’t invest anything during that time we just paid the debt as fast as possible and thankfully so because I couldn’t imagine doing it any longer 🤣 3 years later and we’re saving and investing and doing well!! Hang in there.
Likewise we paid off 136K in just under 5 years. And did little investing then but now we are saving/investing 50% of our income. Plus we have a decent emergency fund (almost a year) and that has really improved our enjoyment of life.
@@thomaschew2191 yeah it was the best thing for us to pause investing and just get those chains of debt off our backs! And we can invest all we want now!
That’s amazing to hear! You made it! Congratulations 🎉 and here’s to your investing journey!
Hi Katie, great transfers! I agree, motivation is fleeting but determination and making a habit of doing thing to help u succeed will get u there even when u dont feel motivated to. Most of the time its not if something happens, its when...
Thanks, Stephanie! I know it will happen eventually. We just have to keep going a bit longer 😄
Hey Katie! You guys are doing great and I can imagine the feelings that are there for you paying off such a great amount of debt. You know, I just started getting back fully into making and watching videos so I couldn’t give you my transfers last month. For July, we sent an additional principal payment of $1,106 for our personal loan. For August, it was an additional $879 that we sent toward that debt. My plan is to get somewhere in the middle of those two numbers this month!
I’m so glad you were able to take some time for you though 💙💙 I hope you and your friends are all doing ok.
Awesome work on those transfers though 😍
Great video- I’m feeling a bit of budget burn out as well right now. I, too, have to trick myself to stay motivated to stick to the budget. Thanks for your honesty and always keeping it real!
I’m sorry you’re feeling burned out, too, Kristen! Sometimes it’s just hard 😩
Listening while meal prepping ❤🔥
Thanks, girl! 😄❤️
Totally normal to feel burnout. But you're so disciplined by making these videos each week. Give yourself grace because you're doing great!
Thanks, Brooke! I’m hoping that it’s temporary. I know making new goals for the beginning of the year usually makes me excited again, so I just need to push through until then ☺️
Good morning ❤ I appreciate you showing us how you get yourself to keep moving on with this hard journey. Awesome job to everyone for all the hard work paying off debt. Have a wonderful day
Thank you, Eva! Appreciate you 🥰
Hi Katie, you are doing great! Keep up the great work!
I gave $700 to my sister and finally paid her off after 10 ish years. She has been very patient with me. Lol
Yay! Congrats, Bobbi! Your sister is amazing🥰
@KatieoftheHouse yeah, she is pretty great to me! Thankfully, I have her!
You're doing fantastic work!
Thank you so much!
You are doing a great job. You have a great plan.
Thank you! ☺️
You didn't sound like you weren't going to focus on debt, it just sounded like you were getting close to the burn out. If you can, try to make sure that you are taking it a bit easy at some point. Don't burn yourself out and push too hard! It is not worth getting a total burn out and being unable to continue. We were paying off since 2018, that meant that we were at it for 5 years to get the student loans and car loans paid off, it is a marathon so please don't go to hard!
Well done with all the transfers everyone!
We sent €4,72 from change to vacation, €3,46 cashback to the Window Replacement Fund, and €53,82 monthly interest in our EF that remained in there.
That’s good advice, Sara! I definitely do feel a bit burned out. I really want to get Fedloan 5 paid off this year, and I’m going to try to keep pushing for that, but maybe once we accomplish that, I will chill out a bit to avoid any further burn out because the last thing I want is to make myself miserable and want to give up 😫
I think this time of year I get spendy. Not sure why. You are doing great!
I feel the same, Ang! We always start out strong, and as the year goes on, it gets harder and harder 😩
Great ❤Video
Thanks 😁❤️
Completely understand everything you said. I am 3 years away from being consumer debt free (majority is a HELOC). I just found out this week that my company is being purchased by a major corporation. I’m middle management so my job is at stake. I’ve made the decision to pause paying so much to debt to build up my emergency fund. Ugh!! Now I’m not sure of my debt free time line. Life happens when making plans, right? 🤦♀️
Oh I'm so sorry, that's no fun situation. Why does life always toss you a curve ball when you think you have things figured out?
Oh no, Debbie. I’m so sorry that you have to worry about your job right now. It sounds like you are doing the wise thing to build up your EF while you can. I hope you don’t have to use it, but it’s good to have it there if you need it. I believe in prayer, and I’ll send up some for you 💙
Great video❤❤❤
Thanks, Shannon ☺️
💕💕💕
Happy Thursday, Shawna!
Would it be possible to mention what bank or institution these hysa are?
We use capital one, but I know Ally and CIT bank are popular options as well ☺️
@@KatieoftheHouse Thank you