February Goal Recap

At the start of this month, I wrote a post about our finances and goals, with the aim of keeping our family accountable for paying back our debt. Here’s a look back at how we did:


  • File our taxes and put the refund towards our highest interest debt.  We filed, and got back around $5730. We put $5000 of that into our highest interest rate debt (the truck payment), and kept $700 as fun money. The extra $30 went into our emergency account, which earns us 4% interest.
  • Come up with a plan for our maturing CD. Our 3% interest CD matures early in March, and we needed a plan for the money. Unfortunately, we were not able to roll it over into another CD to avoid capital gains taxes, so it will be deposited into our savings account. We have decided to take $100 of it to start a new 4% CD, put $1000 towards our debts (highest interest rate first!), and put anything that’s left over into our emergency account at 4% interest.
  • Reduce our debt by either $1000 or $6000. Each month we budget $900 worth of debt reduction income, and my goal this month was to pay off an extra $100 worth of debt, plus our tax refund if it came in on time. In February, we paid off $6,150.66. We blew past our goal by $150.66!
  • Remain in the green this month. We stayed in the green, but ended the month with $0 in our main checking and savings accounts (I do not count our emergency account as a savings account). We would have gone into the red if I had not made an extra $160 towards the end of the month from selling items on Bookoo. If we had any money left in our accounts the day before payday, I would put it towards our highest interest rate debt (even if it was only 50 cents!)

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We completed all our goals this month! I’m proud of us. Hopefully we can do this well next month. One step at a time, that’s all it is!


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