Debt Payoff Progress – June

Well, I’m not going to have many more of these updates, only one more to be exact.

I logged in to my student loan processor’s website today and saw a balance of $1,322. I have now reached the point where my last payment is smaller than my normal monthly debt payment of $1,771. I have an extra $450 that will probably just go to car repairs, but it’s nice to have.

Last month we started at $3,079 in debt, and ended at $1,322.

I should probably wait to make the final payment once I get back from vacation and sort out what I ultimately spend, but I really want it gone and to ride that feeling while relaxing.

This month is going to be tricky because I have so many balls in the air. I am taking on a 2-week project on contract right now, which is going to make my paychecks arrive erratically at the end of the month, when I’ll be out of the country anyway. I will have to pay all my bills the morning we leave for Croatia, some in advance, before I escape them for 12 days. 

Figuring out the money situation is perhaps the most complicated and annoying part of traveling. Do I take a wad of cash, a prepaid chip and pin card with a shitty exchange rate, or just my credit card and a small amount of backup cash? 

All of these sound like viable options, but I don’t want to go overboard. I have a credit card with no foreign transaction fees, the Chase Sapphire Preferred card, and will try to use that wherever possible. Vacation is basically a stream of small transactions that aren’t even worth pulling out the card and signing in exchange for a 2% cash reward, so I will convert some US cash to Croatian kuna and handle it that way.


Readers: How is your debt payoff progress coming? What payment methods do you prefer when travelling?





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24 thoughts on “Debt Payoff Progress – June

  1. One 3/4 payment left! Nice work John! I’d be so tempted to make that final payment before going on vacation too. It would really start the vacation off on the right foot knowing that you’re finally in the clear.

    For vacation spending I tend to get some foreign currency from my bank and then try to use my credit card as much as possible. I never manage to take enough cash, but at the same time I wouldn’t want to carry too much cash in an unfamiliar place.
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  2. Congrats on one last payment! Our debt payments have been going good but we just had to replace tires on one of our vehicles which took us for $670, then our hot water heater went to crap so that was another $700. I think I can make up for it though with some overtime and get back on track for the month. Hope you have fun in Croatia.
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  3. Good job! We are busy saving for our wedding in Jamaica. As Firefighters, both my fiancee and I have been hit hard with local fires (Colorado) – and since we’re volunteers with the department, we often have to leave our regular jobs — with out pay — to help in our district. So that has taken away earnings that would have had us further along on the wedding fund. Sometimes you have to weigh earning money over helping out the community.
    Kudos to you for the progress you’ve made — it is always great to read how people work – and succeed – at conquering their debt.
    Lisa @ Thriftability recently posted..The Side Hustle: Second Jobs To Make Ends Meet Or Save MoneyMy Profile

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