Financial Reports

April 2018 Financial Report

Monthly finance report

This is no April Fool’s joke – we’re only $769 from becoming debt free. FINALLY. We’re thisclose to knocking out my student loan, which has been hanging out like an unwanted house guest for the past 11 years. It’s definitely time to kick it out and say, buh-bye!

via GIPHY

How did we pay off $6430 this month?

We were able to pay off a pretty big chunk this month due to several things:

  • Tax return
  • Extra income from side hustles
  • Keeping on our budgeting and checking in every week on expenses
  • We moved some cash around from some backup savings we had and originally didn’t want to touch. But when you’re thisclose to finishing paying off debt, it’s impossible not to throw every single cent at it!

Assuming that we stay on budget and don’t have any influx in income or expenses, we’ll be officially debt free this month!

Total paid off: $25,850
Amount net worth has raised since December 2016: $57,952

DebtOriginal AmountCurrent AmountPercentage RateAmount Paid Last MonthPercentage Paid
Credit Card$5,500.00$0!!9.75%0100%
Car Loan #1$14,093.00$0!!1.99%0100%
Car Loan #2$10,000.00$0!!1.99%0100%
Student Loans$23,000+$769.541.75%$6430.5996.7%
Totals$52,593.00$769.54$6430.5998.6%

we paid off $7,482 of debt in 7 months with this budget workbook



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March 2018 Financial Report

Monthly finance report

We paid off my husband’s car loan this month – just 5 months after we paid off mine! The only item we have is my student loan, which is down to $7200! If that isn’t motivating, I don’t know what is! To say this is what I feel like doing to celebrate is an understatement:

But due to my advanced age (snort) and lack of coordination, it looks more like this:

Total paid off: $19,419
Amount net worth has raised since December 2016: $54,084

DebtOriginal AmountCurrent AmountPercentage RateAmount Paid Last MonthPercentage Paid
Credit Card$5,500.00$0!!9.75%0100%
Car Loan #1$14,093.00$0!!1.99%0100%
Car Loan #2$10,000.00$0!!1.99%$2690.54100%
Student Loans$23,000+$7200.131.75%$359.2068.7%
Totals$52,593.00$7200.13$3,049.8786.31%

we paid off $7,482 of debt in 7 months with this budget workbook



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February 2018 Financial Report

Monthly finance report

Man alive, was January super long or what? We did a great job of sticking on budget though, so that felt pretty wonderful.

The downside is that I found out I need about $1,000 worth of dental work done. Ouch. I’m hoping we can spread it out so that we can cash flow the work instead of having to pay in a lump sum.

If you haven’t read my review of the Trim app, you should! We ended up saving $240 in just 5 minutes worth of work. They were able to save $20 on our monthly internet bill. When I got the bill yesterday, it was actually more like $23! I can’t wait to see what they can do with our phone bills from StraightTalk.

Total paid off: $16,369.13
Amount net worth has raised since December 2016: $48,784

DebtOriginal AmountCurrent AmountPercentage RateAmount Paid Last MonthPercentage Paid
Credit Card$5,500.00$0!!9.75%0100%
Car Loan #1$14,093.00$0!!1.99%0100%
Car Loan #2$10,000.00$2690.541.99%$1353.2173.1%
Student Loans$23,000+$7559.331.75%$120.2367.13%
Totals$52,593.00$10,249.87$1473.4480.51%

we paid off $7,482 of debt in 7 months with this budget workbook



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January 2018 Finance Report

Monthly finance report

December turned out to be a pleasant surprise! We really buckled down and stuck to our budget, and were rewarded with the ability to pay extra towards the car payment. We did a lot of traveling and family events, and found ways to get presents for the kids and each other on the cheap. I hit some amazing sales at Target and my husband pounced on some clearance stuff at work to make for a very fun Christmas.
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December 2017 Finance Report

Monthly finance report

November was a crazy month. As much as I tried to plan for seasonal and additional expenses, we still ended up very “off” on the budget. I took a trip to NYC with two of my friends, and I tried to budget the cost across two months. I think the fatal flaw to my plan is having too many bank accounts to work across. That being said, one of the financial adjustments I want to make for the new year is to stream bill paying as much as possible.

Both November and December will have very little going to debt repayment due to the holidays. We also have to spring for new tires for my husband’s car. This should have been part of a sinking fund, but I’ve been pushing off building one until we get our debt paid off. Clearly this isn’t the best approach, and we’ll be adjusting to start saving sinking funds ASAP!

Our primarily goal for this upcoming month is to really focus and stay on budget, even with the holidays. We’ll be doing a year end review (much like a business), and setting new goals. Thinking about some financial New Year’s resolutions? Check out why I say to skip them and what to do instead!
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November 2017 Finance Report

Monthly finance report

Guess what? We finally, officially hit the halfway mark on our debt repayment journey! Woot woot! While our debt repayment has slowed down a little bit due to unforeseen circumstances, it’s still so exciting to have hit this milestone.

You might notice that our total payoff percentage below is at 75%. That’s from the original loans amounts, not from when we actually started to kick it into high gear this past January.
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October 2017 Finance Report

Monthly finance report

This month our debt repayment slowed down a lot. I think we pushed it so much paying off the car that we were finding ourselves overstretched in some areas of the budget. We still made progress forward, which is what counts. Instead of putting things on the credit card, we cash flowed them instead which is such a nice change!

I even went on a weekend trip to Amish country and was able to keep myself from buying anything. Every time I thought, do I reaaaaallly need this? I did end up buying a couple of small things, but they were less than $20 and for the kids. It’s nice to be able to stay focused on our goal of debt repayment. Less than $14,000 to go!

Also on the plus side, our net worth is up $31,782 since January 2017! Pretty amazing concerning all the craziness that has happened this year so far with jobs and bills.

DebtOriginal AmountCurrent AmountPercentage RateAmount Paid Last MonthPercentage Paid
Credit Card$5,500.00$0!!9.75%0100%
Car Loan #1$14,093.00$0!!1.99%0100%
Car Loan #2$10,000.00$59151.99%$21040.85%
Student Loans$23,000+$8050.661.75%$12065%
Totals$52,593.00$13,965.83$329.9473.4%

we paid off $7,482 of debt in 7 months with this budget workbook



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September 2017 Finance Report

Monthly finance report

We did it!! We paid off my $14093 car loan in 20 months! This even after a layoff and damage to our roof, thanks to our awesome budget!

I should also point out our oldest daughter started kindergarten, so we were able to cut our daycare payment by a lot and put that towards the car as well as some extra savings.

We ended up having to pay the deductible to replace the back half of the roof. The good news is, we were able to cash flow the cost rather than use our emergency fund. Woot woot!

We went over on our food budget big time – frustrating, but we’ve made up for it in the last couple of weeks of August. Hoping we can continue to pull it together for September. Continue reading

August 2017 Finance Report

Monthly finance report

This past month has been a total mixed bag of crazy. On the plus side, drum roll, please! We paid off our credit card in full! The second that first paycheck of my husband’s hit the checking account, I used the daycare reimbursement I had squirreled away to polish off that silly plastic card, and damn, it felt good! We also had a little extra left, so I threw it at our next debt, Car Loan #1. Continue reading

July 2017 Finance Report

Monthly finance report

Woot woot! My husband has found a new job and starts this week. Thank goodness! We won’t have the company healthcare until 90 days, so we still have the additional cost of paying for our own for now. We were able to knock a bit more than usual off the ol’ credit card, so things are definitely looking up this month! The extra income from the payments came from freelance work and a couple of small side hustles I’ve been working on. I also created a debt chain as another visual marker of our progress. Continue reading