It is already the end of the month and I have come to the following conclusion: “I am sucking at this paying off debt journey”. When I decide to go on this debt free journey and start paying off debt, I did not realize that I was going to have to switch my whole mentality.
I used to think I lived paycheck to paycheck. But the reality, I just suck at self-control. It took me this month to realize that. Sometimes I see things and just buy it like the Making Sense of Affiliate Marketing e-course. I did not need to purchase it right now and could have waited, but I just wanted it so bad. I have no regrets in making my purchase because it has helped me tackle affiliate marketing which can help drive some extra income in the future.
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- How I Got Myself Into 200K Worth of Debt
- Snapshot of My Monthly Bills &a Income
- June 2017 Monthly Debt Report
I have been working at my part time for the last four weeks and have received 3 paychecks for a total of $394. But is that money in my saving account. Nope! If you ask me where it is I honestly could not even answer that. All my unexpected expenses was paid from my primary paycheck. So clearly I just trashed $394. Saying it out loud is so sickening. Which is why I wanted to document my debt journey, for realizations like this one.
The goal this month is to not spend any extra money. Therefore, whenever I get the need to purchase something I do not need I am going to drop that money in my savings account. Hopefully, this teaches me self-control which I am seriously lacking.
JULY – PAYING OFF DEBT
List of Debts
- Savings – $300 ( previous balance: $175) I am really proud that my savings account is moving up. In the beginning of June, I had $25 dollars in my saving account.
- iPhone – $561.23 ( previous balance: 590.78)
- Mattress Firm – 1,032.22(previous balance: 1,068.22)
- Rooms to Go – 1,368.13 (previous balance: 1,394.19)
- Discover – 2, 792.49 (previous balance: 2,804.10)
- Capital One – 4,819.14 (previous balance: 4,816.39)
- Bar loan– 8,563.50 (previous balance: 8,584.40)
- Car Loan – 31,198.82 (previous balance: 31,568.50)
- Student loans – 152,728.0 (previous balance; 152,728.01) – I have not started making payments on my student loans.
- Medical Bill -$129
- Making Sense of Affiliate Marketing E-Course- $107
* Primary: 2638.92
* Secondary: 394.00
* YouTube: 141.53
* Blog: 0.00
The goal next month is to do a lot better with my spending. I’m thinking about just going back to the time when I only had one income and using my part time income to go directly into my savings unless an unexpected expense pops up.
- $700 dollars in my savings accounts
- $50 allowance for miscellaneous
- One month of no added expenses
- Start putting money aside for my CLE class $165
- Start Saving for a Christmas Trip to Washington State to see my brother.
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