June is over. I’m still trying to wrap my head around the fact that half of the year is officially gone and whether or not I did enough in the first half of the year. This month was a very busy month for me in that things with my graduate thesis project took off, requiring me to put a lot of extra energy into my lab life while also trying to balance all of the extra work I accepted outside of the lab. Half way through the month when I began to feel a bit, overwhelmed, and I had to admit to myself that I bit off more than I could chew. I was taking on the extra work so that we’d have extra to throw at our debt, but in all of that I have to remember to stop and breathe.
What did I learn This Month?
This month I learned that while I want to attack our debt with everything in me I need to learn to slow down or to say no. I had some great freelance opportunity come my way this month, some that I probably should have passed on, but the thought of being able to pay off more took over and clouded my judgment. You can’t pay off debt when you’re run down and spending money on medical care.
I also learned that not everyone is going to be cheering for you. To many, the topic of money and finances is taboo. They don’t want to discuss it for fear of judgment or chastisement on their spending habits. While you’re on this journey to get out of debt, working extra hours, being thrifty, and saying no there are going to be those who feel you’re bragging or that you think you’re better than them because you were able to do something that they can not. You are able to control money instead of letting money control you. While they may not come outright and say that they’re jealous you’ll notice it in their actions towards you and the way they respond to normal conversation. While there are people who are not cheering for you there are people on the other side who are. Your daily walk inspires them. When they see you winning they themselves want to win also. Keep the faith and remember that people come into your life for a season and it’s okay to admit when that season is over.
June Break Down
Current Debt: Upromise Credit Card
Starting Balance: $3056
Ending Balance $1026
This month we were able to put an additional $1980 over the minimum payment on the balance of our Upromise Credit Card. I was really hoping to have this card completely done this month, but we’re able to go into July knowing that this debt will be completely paid off come July 15th and we can then start tackling our mountain of Student Loan Debt which still gives me a scare every time I look at it.
There were three key things that helped me make it through this month and I’m sure will help me make it through the upcoming months.
1. Following the written Budget.
2. Being Intentional with Purchases.
3. Being Content with what I have.
In total we’ve paid off over $12,000 in debt since beginning this journey in March. If someone were to ask me if I could save up $12,000 in four months I probably would have laughed at them. $12K seems like such a large number and depending on what you’re comparing it to it is! We could have done so many things with $12,000 like for instance renovate our cosmetically challenged bathroom, purchase a 2015 Chevy Cruze, put a 20% down payment on a $50K property, traveled, etc. To know that we don’t owe someone, $12K is freeing and puts a bit more pep in my step. Our goal by December 2015 is to have paid off $30,000 in debt. The road is long but with one foot in front of the other, we’ll get there.
To read more about our journey being Broke on Purpose check out some of these articles here.
Are you on a journey to become debt free? Share how you’re going about it in the comments below.