Summer 2018 Debt Update

Each month I chronicle our progress on our debt free journey. Since I have been absent for a few months, I didn’t get a chance to update you all on our debt free progress. This is our summer 2018 debt update.

Throughout the summer, we paid $6,869.67 on debt.

Credit Card:  $2,239.67
Credit Card 2: $980
Student Loans:  $1,150
Mortgage:  $2,500

As I mentioned before, most of the summer was a blur. Because I was so distracted with the events taking place throughout July in particular, there was even a brief period where I thought that when our insurance bill would clear, it would wipe drain our account. I haven’t had to worry about that in many, many years because I’ve been incredibly meticulous about our budget. But all that went out the window this summer.

And it reminded me of something. It reminded me of our why. The last few months we’ve had change after change to our income, medical insurance contributions and payments due at time of services, and changes to our sinking funds. We’ve had spur of the moment maintenance issues come up with our car, and had to dip into our emergency fund to repair our water well line. But they were just reassurances that budgeting and paying off debt helped us stay on top of things, and were able to account for things as we went about life.

This summer was a refresher in our why…. why we want to be debt free and financially independent. And it’s time to get back on track and get this dealt with once and for all!

During 2018, we have paid $11,537.40 to debt.

While it’s not nearly as high as I’d like it to be, it’s no where near as low as just making minimum payments throughout the year.

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! 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.