Ok… so not ALL of the numbers are in yet and I’m still waiting for a few statements so we can actually write checks and pay off medical bills, but we do have a pretty good idea of how it will play out.
To start with, we have to pay the hospital. The hospital bill that we are paying out of pocket for both Z & myself: 5,714.40.
That’s quite a chunk of change! But… considering it’s the largest medical bill I’ve had in my adult life, where I have not had to say “Hey Hospital, here are my financials, I have no money, please let me work out a payment plan” I’m super PUMPED! We planned well and will be able to pay this entire amount with money we saved up in the “Crisis Fund.”
Next – I went to another consignment sale. Why is this part of the numbers this month? Because when we’ve spent money that was not initially in our budget for the baby, we’ve used Crisis Fund money to do so. What!? Going outside of the budget!? In this case, Yes. We purchased some much needed items like a standard stroller. The stroller we bought would have been at least $200 new. We spent $38.
In total, we spent $135 at the consignment sale, for items that would have totaled $425 if they were all new. Also, as a side note, I made some extra income through consigning. A whopping $22.
So … we now have a much better understanding of how much extra crisis money we have and can put it toward debt.
Medical Bills paid: $5,714.40
Consignment Money Spent: $135
Extra Income: $22
Extra Debt paid: $2,591
Total Debt paid in August: $2,837
Since 1/1/2012 – Total Debt Paid off: $35, 773*
*For the purpose of Baby step 2 we are not factoring in our home mortgage
Consignment savings Running Total numbers:
Running total for used items: $393
Approximate amount if all items were new: $1,119