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OUR DEBT FREE JOURNEY MONTH 4

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“You’ve got to tell your money what to do or it will leave” – Dave Ramsey

 

We’re 4 months into our Debt Free Journey and here are our updates

 

June’s total debts came out to $121,701 which was up from May’s total of $120,452; a difference of + $1,249  (wasn’t expecting this jump in the reverse direction though).

 

This is due in part to the school loan interest that shot up, which is why I want to hurry up paying off this massive mound of debt, I really don’t want the negative effect of compounding interest eat up our future nest egg.

 

Also, the past month we traveled, to the Philippines and South Korea to be exact, and also incurred expenses that wound its way up to our total debt.

 

So instead of getting ahead, last month we lost a little bit of ground despite allocating  $1,811 to our debt servicing, our debt increased by $1,249, ouch 🙁

 

 

 

JUNE vs MAY NUMBERS

 

 

 

 

 

 

 

 

 

 

 

LAST MONTH’S GOAL UPDATES

 

 

O.T.  – I was able to work about 5 hours of overtime last month,  whoohoooo.. but since we were traveling, the funds were spent on our trip, which was also good since we cash flowed some of our expenses.

 

 

TAX DEDUCTIONS – I had my W4  re-adjusted from the month before already, but although there is a $200+ increase in my salary as a result,  we haven’t diverted it to our repayment budget yet, we will for this month though,  so …. goal met ????

 

 

SELLING THE CAR – My wife loves the car and it’s her birthday present so we’re keeping and paying it off 🙂

 

 

MONETIZING  – Drum roll…. “Great news” although I wasn’t planning on it but I actually made $65 on an affiliate link for Bluehost, whoohoooo, i’m super pumped !!!!… It is true, you really can make money with this blogging thing.

 

Standby for my income report for June

 

 

GOALS FOR THIS MONTH

 

 

OFFER FREEBIES – Still a ways to go with the free “Ultimate Guide to Buying Real Estate” ebook, but have the auto budget tools up and ready for, so I’d say half a win for this.

 

 

KEEP TRACKING MY SPENDING – Continue to use Personal Capital, it really is the bomb!!!! It’s so easy, secure, and best of all FREE. Who wouldn’t want that?

 

 

WORK O.T. – Already booked my  5 hour OT goal my first week back from vacation, that should take care of a few credit card charges during our trip to Seoul, will shoot for a total 10 hours by end of month, we shall see….

 

 

 

 

 

 

 

WRAPPING UP

 

It’s really a looonnnngggg journey, sometimes we felt like giving up especially when we were traveling;  it was so easy to be sidetracked….but we continue to be motivated by the idea that slowly but surely, if we keep on moving forward, we will eventually get to our destination… of being “debt free”.

 

 

Any strategies you want to share? Please send us feedback, and if you like to be part of our journey, please subscribe via the form below.

 

Thanks for stopping by, until next post.

 

Peace and Blessing to you All.

 

2 Responses

  1. Mindy
    | Reply

    I like this because you have a real amount of debt that we all experience as do I. I see so many debt storiea who have maybe 20k and it’s a big deal. Not that it isn’t but a six figure debt is a lot to work with and can be discouraging. Thanks for sharing your thoughts and strategies.

    • Thanks Mindy, appreciate the comment. Yes, slowly but surely we will get through this and share as we go 🙂 Blessings to you and yours.

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