Focusing on Debt

This was my December update on debt:

Debt killing goals:
(1) Pay off lingering credit card debt in the amount of $6500.
(2) Pay off Mr. Sam's new car, remaining debt $2500.

Of course, we've added to our debt by buying me a nused car.  But, I'm ignoring that for right now.

I've been chipping away at our credit card debt.  We killed the 0% credit card debt that we took out for tile in one of our rental homes.  Mr. Sam also cancelled that card/account.  As for our revolving credit card (Chase) that has been hanging around since Baby Sam arrived, it is now down to $3809.  I'm utilizing Dave Ramsey tricks by throwing a $100 at it here and there, and sending payments from various checking accounts on the same day.  I expect that Chase will be killed off by mid-March (hoping for end of February).

Mr. Sam's truck is down to $2000 and we have 4 payments left.  I don't plan to pay ahead as we have a 0% situation.  So, by May the truck will be paid in full.

Once the Chase is killed, we really need to ramp up 2015 IRAs savings since the deadline to fund is 4/15/16.  At present we have $2500 in our 2015 IRA savings.  That means we need to find $9000 before 4/15/16.  Our available savings is down because of my nused car purchase.  We do have $4200 in our vacation/travel fund, which means I could likely raid it for a couple of thousand.  And I could probably take $1,000 from savings.  That would mean we need to find $5,500 from other sources in about a month or month and a half.