August by the Numbers

This is going to be a pretty short post.  We’re doing well and thankfully, the fall work is starting to pick up again.

Like I mentioned in my previous post, our biggest contribution to debt this month was deciding to put what we’ve saved for car replacement toward the debt.  We figure my car will last a while longer and should it completely breakdown, that’s what our emergency fund is for.

We just went on a holiday road trip and while driving listened to a few more Financial Peace University Lessons, giving ourselves a jolt of encouragement.

Here are the numbers:

Extra income: none

Extra Debt paid: $1,919

Total Debt paid in August: $2,165*

Since 1/1/2012 – Total Debt Paid off: $28,968*

*For the purpose of Baby step 2 we are not factoring in our home mortgage

 

August is nice

It won’t be as spectacular as months in the past, but we found some money we could throw at debt.  We’ve been saving up to replace my car as needed.  However, we decided that it should have enough life left in it to not need this fund up and running quite yet.

Should something horrific happen, well, that’s what our emergency fund is for.  So – we took it and put what we had so far at debt.  The numbers are decent this month, so I’m looking forward to my end of the month post.

July by the Numbers

Not too much to report. Like I’ve said in previous posts, we’ve squirreled away money to provide for this slow time.  We are thankful that we were both able to make a smaller contribution above and beyond minimums, as well as buy a much-needed mattress.

Normally, big purchases would be on hold. All Wants ARE on hold. However, due to our particular health situations, so that we could get quality rest and not continue to have (sometimes fairly major) back pain, a new mattress, fell into what we considered a necessity.

We were thankful to hit a pretty large mattress sale, 50% off plus instant rebates.  I was surprised at how expensive high-end mattresses can be. It made me sad to think that people were probably walking in the store that weekend, financing a 1,400 – 3,000 dollar mattress. What great deals! 0% interest financing! No credit check! UGH! Lies! Tricks! Don’t do it!!!!

We didn’t sell anything, or make any extra income so here are the numbers:

Extra income: none

Cash flowed to new mattress: $802

Extra Debt paid: $627

Total Debt paid in July: $873*

Since 1/1/2012 – Total Debt Paid off: $26,803*

*For the purpose of Baby step 2 we are not factoring in our home mortgage

May by the Numbers

This month was pretty spectacular.  We are so thankful that we got one more amazing month before the actual slowdown hits.

We had very little ‘extra’ income this month.  No Craigslist sales.

This month’s budgeting was a little tight as the way refueling fell in the calendar – we both needed gas for our vehicles on the 29th, pushing us over that line item.  We had out-of-town company for a handful of days – but were pretty pleased that we were able to save on the other weeks so as to eat out with our company and not go over on the food budget.  We were under by an entire $7. 🙂

As far as progress – like I mentioned, the slowdown hasn’t hit yet so when some large jobs finished up (having already prepared for the next few slow months) we were able to make the FIRST EVER above minimum on our last remaining Major Debt – my grad school student loan.

Without further ado – the numbers:

Extra income:

We won a $100 Amex gift card

Extra Debt paid: $3,794

Total Debt paid in May: $4,040*

Since 1/1/2012 – Total Debt Paid off: $21,499*

*For the purpose of Baby step 2 we are not factoring in our home mortgage

March by the Numbers

3 months in.

Extra debt paid off in March – chipping away at the HVAC – $2,293

I’m not sure we will be able to maintain this pace for all of 2012!  Not in regards to keeping our budget tight (that is a requirement) but more in terms of we are running out of things to sell. 🙂

Our extra income this month was very nice.

Craigslist Sales: $580

Refund from our old home loan Escrow: $842

Totaling $1,422 extra dollars of income.

We stayed in budget (actually were under) in the food department.  I’m convinced this will be the most difficult category to stay in bounds on.  It takes a lot of planning, knowing when we have dinners out coming up and setting aside the amount we’ll need. It takes away a lot of spontaneity, but so far, we are managing.

This month we were able to go out to eat with some family that were in town yesterday, and tonight, I’m going to a birthday party.  Here the last day of the month, and food money is available. It’s hard work for sure, but it feels great.

One other note – while doing all of this, we are also setting aside money for things like Christmas gifts, and car repairs.  We stick them in the savings account.  This morning I noticed a whopping $1.06 in interest!  Not a lot, but wow – it sure feels great to have interest working in our favor for once!

So the final numbers for the month:

Total Debt paid in March: $2,779*

Since 1/1/2012 – Total Debt Paid off: $10,641*

*For the purpose of Baby step 2 we are not factoring in our home mortgage

February by the Numbers

2 months in. February was not nearly as good as January.

This month we paid off $100 extra– our very smallest medical bill.

Significantly less than the extra pay off last month.

In addition to this pay off (and part of the reason this month is small), we finally closed on our Re-finance. In order to finalize the closing, we had to bring $2,300 to Closing.  (And there you have it – the extra “supposed to be used for debt” money.)  Not even sure if this is pro or anti Financial Peace instructions.  It was either use the money toward current debt while rolling the same amount into a new home loan or doing what we did, keep the loan a little smaller, but delay on paying down debt this month.

Some other numbers for the month:

$70 in Extra Income from Gifts

$197 in Cash Back for our Costco Card — Full disclosure, we used this to stock up on non perishable products that we will use all year-long – so this one didn’t turn around and go toward debt.

Totaling $267 extra dollars of income.

Finally – I have to admit our set backs as well. We went over on our food bill.  Between the Superbowl and Valentines day – we cut it too close right at the end.  This month will be better.

Total Debt paid in Feb: $586*

Since 1/1/2012 – Total Debt Paid off: $7,862*

*For the purpose of Baby step 2 we are not factoring in our home mortgage