October 2018 Debt Update

This month was an eye-opening month. After trying to find a routine to get back into the swing of things, we had some expenses come up this month that I wasn’t prepared for. While I could concern myself with it, I’m trying to learn from it. With that said, here’s our October 2018 debt update.

Throughout the summer, we paid $1,130 on debt.

Credit Card 1:  $200
Credit Card 2: $200
Student Loans:  $230
Mortgage:  $500

This month was a little less on debt than I had envisioned, and there’s a few reasons for that.

First, October was busy. Not just with our usual fall activities, but also with specialist visits, orthodontic visits, and sick visits. With all the running around, I spent more on fuel than normal; as a matter of fact, it was almost double our usual fuel amount. Also with those visits came copays and prescription costs. Normally these come out of our savings account, but with all that happened over the summer, I haven’t been very good about being on top of that. So the money has to come from somewhere.

Second, I neglected to sit down and write out a monthly budget. And I’ll be honest, I haven’t sat out to do one in the last 4 months. Other things have been occupying our minds, and it was so easy to let some things, like this slide. And while I do understand why, it doesn’t stop me from getting a little frustrated.

So, for November, I’ve decided it’s time to sit down again and reevaluate our goals. Things have come up, and it’s time to reevaluate where we are and where we want to be. With that, I’ve already sat down and done a monthly budget for November as well. This will help us stay on track for what we should be spending, where we should be spending it, what we should be saving, and what we’re saving for.

During 2018, we have paid $12,667.40 to debt.

I want you to remember throughout your debt repayment journey is a thing called life. There will absolutely be months where you’re crushing it, and months where life happens and you’re just getting through. In the end, all of that is completely okay! Give yourself the grace to learn from it, and to move on.

The end game is financial freedom, and financial security. The journey is all about changing your financial habits, learning to spend within your means, saving for the known, and having a little money on hand for the unknown.