Today was big for Jamie and Oscar’s finances. A few months ago (pre-YNAB), they had bought a new table ($499) and put it on a zero-interest credit card. Well, the zero-interest perk runs out next month (going up to a whopping 18% APR) and they still had a balance of $375 to pay off (they had fallen behind on payments).
After Oscar’s rude awakening (when his Uber earnings went to pay for the interest on his credit card), he was feeling pretty strongly about going in the opposite direction of debt.
With their paychecks hitting mid-month ($1500) and their immediate obligations paid off for the next few weeks, they decided to pay off the whole balance on the card ($375).
Goodbye credit card! One down!
Oh—and another momentous occasion. They had $50 saved in their emergency fund category. Sure, it wasn’t much, but that was the first time in over five years they had any sort of cushion.
This really was starting to feel like they were turning a huge ship. They got some cookie dough ice cream to revel in their accomplishments (the best use of $4 yet).