Tuesday, January 7, 2020

Transfer Tuesday and Paying Down Debt 1/7/2020


It's  Tuesday and its time to move some money around and reduce our debt.   Last week the hubs took on the job of replacing the water pump on his 2014 Ford truck.  While he had everything torn out of the truck he went ahead and replaced hoses, did an oil change, and there may have been something else but I don't really retain truck talk stuff.  The final tally on the parts for the job is at $1400.00.  Sheesh! That will be covered by eBay funds.

I did implement cash envelopes/sinking funds back in November 2019 for such events, but there certainly was not enough to cover that in the envelopes.

This Tuesday we are sending $20 to the HELOC balance.

I sold a stroller on Facebook Marketplace for $20 and that will go straight to the debt.  There are no credit card rewards to transfer this week.  So, the $20 is it for this week.





Old principal (Heloc) balance $83,519.46

  • $20 from the sale of a stroller 

New principal balance $83,499.46














Last month we were able to send an extra $1534.48 to the HELOC balance.


DECEMBER HELOC PAYMENTS

























As stated previously, I set a 2020 goal of reducing the Heloc balance by $20,000.   Theoretically, I will be counting on eBay to help a great deal with the debt reduction by applying at least $1000 a month from eBay earnings. That leaves approximately $667 a month to earn/find/reduce other spending and apply that to the Heloc balance as well.


Here is how we did last week on Transfer Tuesday

5 comments:

  1. That's great that your hubby's able to fix the truck himself. My DH is a mechanic & I know how expensive car repairs are.

    Nice sale on the stroller. Every $ helps.

    ReplyDelete
    Replies
    1. Yes, hubs background is as a mechanic with other skills, thank goodness. There is not much he can't fix or repair.

      Delete
  2. You must be really good at resale to get that much. Good for you.

    ReplyDelete
    Replies
    1. Thanks, Kim. The stroller was my daughter's and was not used much at all. She was going to give it to Goodwill. Ack!!

      Delete
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    ReplyDelete