One thing I haven’t written about yet this month is how our getting-out-of-debt process has been going. During Where’s My Money Going Month, I recorded our spending daily (or every other day) in You Need a Budget.
I’ve kept using the system, though now I export transactions from our banks and import them–adding cash transactions where relevant. I’ve also cut back to doing it about once a week.
Our current getting out of debt strategy is to put Micah’s stipend, any debt snowflakes we have left over from our budget items, and the money I earn consulting & blogging toward student loans. We reserve some for investing, taxes, and some for other goals, but the majority is going toward the student loans.
I’m pleased to announce that this month we managed to put away over $1750! That feels like a real coup, since Micah’s debt is so big. And sure, that’s less than 2%, but that’s a lot more than 1% dangit!
I think we can chalk March up in the win category.
And as a note, I’ve continued to find YNAB very easy to use. I like that I can’t set it to auto-import and just ignore things, but that I can use an import file and then approve/modify transactions. It’s also doing a good job, on the whole, of learning how to make category suggestions. Or if you’re looking for a free budgeting tool, consider downloading my [download#8#nohits].