Hi I’m back with another debt update. The most important part of this post is the debt free date is pushed up to September 17th, 2021. The original date was July 15th, 2022 so we are making great progress towards being debt free! The main focus of this week was to eat home cooked food and avoid eating out. Don’t spend much money because the budget is skin tight until payday and find more money lol.
The plan is still in effect. No paycheck snowball payment this week but I made a couple smaller payments from Facebook Marketplace sales. I keep track of the debt snowball in a fillable pdf that I am constantly even obsessively updating in my free time. It feels so good to see the debt disappear. It makes me sad to think about the time I wasted not doing the debt snowball/baby steps but alas I am focused on getting the debt out of here. When I started this journey, I read somewhere that being under $20,000 of debt was like a ray hope that this journey is manageable. Just a few more weeks and we will be there!
Through budget cuts I have increased my snowball payment by about a $100 a month. Every bit helps on this journey. My wife plans to put some of her income towards the debt. So that will be great for speeding up the snowball. If the politicians can get there stuff together I will put my entire next stimulus check towards the debt also
The budget is kind of out of whack based on the 3 pay periods of last month. It should balance back out next week. It has been a little tight with no money budgeted for groceries or gas since July 17th. That was my mistake next time that happens I will have a better balance. All of the third pay periods money went to paying off credit card debt. That didn’t leave much wiggle room for groceries and other essentials. Just cannot be as free with groceries as I am sometimes.
I am constantly looking at my budget looking for things to cut or reduce. I removed any money that did not have a specific purpose and added it to my snowball. Instead of filling up the gas tank I put $15 in the tank to hold me over until next week.
Just selling things here and there on eBay and Facebook Marketplace. In January 2019 I bought 20 Lance Armstrong Livestrong bracelets for $20 because I wanted one and the single bracelets were marked up too much. So now I’m selling them for $2.50 + shipping on eBay. I have sold eight so far. Can’t be mad at this they were just sitting in a drawer in the house.
Now I am slowly going through my closet selling things. Working my way through my shoes right now. I applied to two part time jobs I didn’t get either. I would think in the current covid-19 world jobs would be ultra-competitive right now. So, while a second income would be awesome and a great shot in the arm to speed up the debt payment. It is not currently part of the plan if it happens it happens. I am also trying to sell printables and stock photos on Etsy. So hopefully I can find some traction with that soon.
So far, I have not eaten out at all this week. It’s been a long day though so I might get Taco Bell tonight. I think I have saved at minimum $40 this week just by not eating out.
With a snowball payment upcoming the momentum and energy to get debt free is still at an all-time high. So until next time ,thanks for stopping by and reading!