July 17th – Weekly Debt Update

Welcome back! A lot has happened since the last update but most importantly we are a week closer to being debt free!

Debt Snowball

My debt snowball is going strong.  I sort of switched up the order of the cards.  Unfortunately, I have several cards in the $2000 range.  So I decided to pay off my Amazon store card next because it has the highest interest rate of all my credit cards.  Next up after that will be Wells Fargo it’s interest free so I should get that paid off quickly.  So we are running a hybrid of the debt snowball/avalanche.  I looked at the interest I was paying to Amazon and I decided I have to stop contributing to Jeff Bezos wealth.  My projected date to be debt free was in July 2022 when I started the debt free journey now it is March of 2022.  I would like to find a way to be debt free in a year so I’m exploring all income options.  I also decided to increase the size of the snowball by $100 by reworking the budget.  One option to speed up my debt repayment is selling my car and downgrading to some extent.  Also once I pay off my Amazon store card I think I’m going to cancel my Amazon Prime subscription.

Budget

I am still reviewing the budget for any money I can keep with me and not give away lol.  I debated my gym memberships to the YMCA and Planet Fitness.  I decided to cancel both and save $55 and throw it in my debt snowball payments.  I reworked the money I was going to put in savings to pay more biweekly towards the debt.  I realized it is more important to be debt free then save more.  The emergency fund is still intact.  Also apparently if you do not cancel your Planet Fitness gym membership before the 10th of the month there is no way for them to cancel the current months charge.  Even if it doesn’t bill until days later.  So they have a nice scheme going on cancellations lol.

Side Hustle

I am looking into selling things on Etsy like printables and vector images.  We will see how that goes I have hope for it though.  I am still selling things around the house. It is not as frequent now but every couple of days I sell something.  I was approached by a lady at work to do some freelance work.  I am super excited to get that done. It is making assets like channel art, intro, and a trailer for a YouTube channel. This project inspired me to get a portfolio website together for future reference.  Also I am going to go to Ross’s and Marshall’s and see if they have any shoes that have any resale value.  I think I am close to ending my Postmates experiment.  I have not really earned any tips so far and without that it’s not really worth the wear and tear on the vehicle.

Eating Out

Taco Bell, Sonic, Albasha, Popeye’s, Atomic Burger, Panda Express…That about rounds out the list of eating establishments I have been frequenting.  I am eating out almost every day of late.  I know but what about the budget.  After this weekend I’m going to meal plan and be on a strict budget.  Because while I have a ton of momentum going I could have more if I just stopped eating out.  Quitting this will be double benefit for my budget and from a health standpoint.

Life

Life is good aside from coronavirus.  The debt is disappearing and personally all is well.  I am feeling really optimistic about a future with no credit card debt.  I am already adding up how much I will be able to save up with no payments!

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