So I’ve been doing really well with paying everything on time since I unloaded the unnecessary credit card and car debt – THANK GOODNESS!  I’m actually getting excited about checking my credit score in a few months – I’m expecting big things!

I previously mentioned that what I now needed to do was to work on my savings and paying off my student loans. It’s been almost a month since I wrote that post so I decided I would check my balance to see if a 1% weekly payment would make a difference in the total balance.

• Has it made a difference?  Yes.
• Has it made a huge difference?  No.

While my balance is still less than the previous month, it’s only just barely. Looks like I’m just squeaking by on the minimum to cover the interest. Progress is progress, right?

So what are my choices? Well, I really want to try and create an emergency savings fund first so I’m going to have to be okay with this minimal progress.  I’m slowly creating a savings pot by simultaneously adding 1% of my gross pay to my savings account each week.  So 2% of my weekly gross pay is being paid out to two funds – savings and student loans.

When I finally reach a 3 month salary pot, I’ll make the decision to focus on putting more money in the student loan repayment.  I need to be less scared that a huge emergency will happen and that I won’t have the funds to help myself out.

I’m liking the freedom of not worrying about funds each month, but I know I would feel even better if I had a great emergency reserve.

It’s nice to have finally gotten serious about this and to see the impact…even it’s minimal!