Month End: January Snapshot

Below is a progress report of where I am at the end of January:

1/31/2016
Current Balance Amount Paid Remaining Balance
Capital One $6,200.00 $0.00 $6,200.00
Barclay’s $1,000.00 $0.00 $1,000.00
$7,200.00 $0.00 $7,200.00
Wells Fargo $7,640.00 $260.00 $7,380.00
Prosper $7,626.10 $242.24 $7,383.86
Wells Fargo Line of Credit $4,799.00 $1,209.00 $3,590.00
Upstart $4,581.57 $101.19 $4,480.38
$24,646.67 $1,812.43 $22,834.24
Total $31,846.67 $1,812.43 $30,034.24

Welcome to a new year! Since 2013, I’ve begun my year with 21 days of prayer and fasting following the habit established by church: Church of the Highlands. https://www.churchofthehighlands.com/ If you are a person of faith, then I encourage you to connect to your local church. Our Pastor Chris Hodges says that real life change happens in the context of relationships.

During this time of fasting and prayer, I sought God to strengthen my finances and prepare Jill and I for the upcoming year.  During that time, I felt God say for me to grow closer in friendships and family members I’ve let slip away over the past years. And in that moment, I realized how much we as a whole need each other.

Jill and I talked over our vision for 2016 and what we’re believing God for in our finances. I specifically had three specific points, which I will share with you in the next post. During the mid-month, we agreed to start a part-time business selling identity theft protection plans. It’s so exciting for us to be able to talk openly about business and grow something together.

We also discussed my remaining line of credit and credit card, and with her agreement, I decided to balance transfer $1000 to the Barclay’s card I paid off last year. The card was offering a low 2.99% rate. This low rate would allow me to save money on the interest I was currently paying on that line of credit. Also my Capital One card is offering a zero percent balance transfer rate. I plan on accelerating my payments to $500 per month in order to pay this line of credit off faster.

Once this line of credit is paid off, I will either re-focus and pay off the balances I transferred over, or set aside more money for the wedding. I’m believing and trusting God for big things this year, and in the next post I’ll share how powerfully he’s worked in my life.

The rich ruleth over the poor, and the borrower is servant to the lender.
https://bible.com/1/pro.22.7.kjv

I believe in your journey to….
A Debt Free Me
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