by Hope
I feel like my days are on a serious repeat cycle and this post could pretty much be a duplicate of last weeks, with one MAJOR difference. I am anticipating a check today that will be the last payment towards my consumer debt…July 1st deadline goal met (almost as it hasn’t gotten here yet.) I feel like I should be doing some sort of happy dance or woot, wooting, but really I am just ready to keep plugging along.
I am really enjoying having choices with my money, rather than just looking at what bill is due next. And I really like the idea of not having to fork over a large portion of my money to debt anymore, but I do still have a ways to go. I have picked my next debt goal and am looking at the timeline now so will post that soon.
Now the news from this week…
The housing question is still looming. I have until the 24th of this month to let my apartments know if I am moving out at the end of my lease to avoid any addition fees. I also have the option to go month to month at that time or sign a shorter lease or another year long lease. I know I will not be signing another year long lease, but everything else is still up in the air. So more on that later too.
I’m continuing to do daily chauffeur duties to swim team practice, day camps (this week the littles are at a free VBS,) and gymnastics practice. I feel like I never have a solid block of time at home or if I do it’s at night when I’m exhausted, so not being as productive as I hoped. That is something that I need to change as I continue to try and build my business!
I’ve two extra kids staying with us this week, 8 year old twins. They are from a single mom family and she is really struggling financially so hasn’t been able to afford to run her air conditioner or hire a sitter for them. I just couldn’t stomach the idea of them staying alone day in and day out in a hot house, so voila they are here. They live about 3 hours from us, so she will come on the weekend and we will evaluate the situation for next week. (One of my twins is gone for the week at Ministry and Leadership Training, so it hasn’t been quite as tight as it would have been. Plus, these twins get along like gang busters with Little Gymnast so they are having a blast together.)
Speaking of Little Gymnast, today is his birthday. Now that’s something I can get excited about. When he found out he would not be getting his iPad screen fixed for his birthday, he gave me a revised frugal list…he’s getting everything he asked for: 1 gallon of grape juice, silly string, Reeses Pieces and a new blanket. (His Thomas the Train comforter is on it’s last stuffing!) We will go out to dinner tonight with his dad to celebrate…he’s chosen Golden Corral for the unlimited food and chocolate fountain!
So I’ve got lots of news, but nothing definite. Expect detailed posts coming on:
1. The next payoff goal and timeline.
2. A new, maybe not so extreme budget…maybe. We’ve gotten used to this one and it really hasn’t been that bad.
3. Details on our new family car.
4. A decision on housing as soon as I make one, lots still going on around this so can’t even hint to what the outcome will be.
I hope you are well and enjoying your summer and staying cool. The heat has been stifling and these last few days have been our first break from 90+ degree weather, so I’m dreading seeing what my electric bill will be. But I am oh, so grateful to be a in place where I can run it without worrying about being able to pay the bill. And run it to my comfort. I know that many people can’t do that. We have much to be grateful for, even on our strict budget.
Hope is a creative, solutions-focused business manager helping clients grow their business and work more efficiently by leveraging expertise in project management, digital marketing, & tech solutions. She’s recently become an empty nester as her 5 foster/adoptive kids have spread their wings. She lives with her 5 dogs in a small town in NE Georgia and prefers the mountains to the beaches any day. She struggles with the travel bug and is doing her best to help each of her kids as their finish schooling and become independent (but it’s hard!) She has run her own consulting company for almost twenty years! Hope began sharing her journey with the BAD community in the Spring of 2015 and feels like she has finally in a place to really focus on making wise financial decisions.
Congratulations on paying off your consumer debt. Would love to see an update with numbers that you have paid off over the last few months and what debt is left. I forget what was included in this debt and what was not. Are you still trying to save up for living on last month’s income? It’s a little hard to follow from week to week where you, what your goals are, and how you are progressing towards those goals. Numbers would help.
The consumer debt was essentially three credit cards/line of credits that were some from the original debt and some from the personal loan I had to take out in December in order to sell the gas guzzling van. What’s left is student loan debt and one other item that has rarely been mentioned because technically I don’t pay it, but I owe it. More to come on that cryptic explanation soon.
I am already living on last month’s income, believe I got there in May, 1 but would have to look at older posts.
Numbers coming soon as the dust settles from the flurry of last day payments.
I know/get life is busy and you blog voluntarily, but a little more real data is long overdue!
Real data…only debt left Student Loans.
Not to dump more on you, but same as above ^. Also, please respond to questions/comments – this feels very one-sided. Walnut asked a great question last week that directly applies to this post: you are saying you will now be consumer debt free, but you just purchased a new car…it’s safe to assume you didn’t pay cash, correct?
Well, it’s a new to us car…and remember all the extra work I’ve taken on this spring and how concentrated I’ve been on building my business? The only debt I’m interested in in the future is a small, very small mortgage. So yes, I paid cash for the car. I got a really good deal, and will post details.
This is wonderful! I am so glad you were able to buy the car with cash and are able to live on last month’s income.
That being said, I am looking forward to the numbers promised above! It would be wonderful to see your original debts with debt free dates, what’s left on your student loans as well as when you project you will pay each off.
Good to hear that the car is paid for in cash. I want to hear all about it, because I do love a story about a good deal! Buying a car with cash is a Big Stinkin’ Deal. Celebrate this huge milestone from a financial and psychological perspective.
Love reading your progress–sacrificing short term is truly paying off. If I can offer a small piece of advice, our family chose paying 20 dollars a month more for a month to month lease when our housing was uncertain. It allowed us to move without penalty or fees or losing our deposit when the perfect opportunity came along. It also allowed us to not get pressured into a less than perfect situation just because of an arbitrary date.
Katie,
I LOVE that idea; however, at this complex if I go month to month, my rent goes up almost $400 per month. Absolutely insane! So I’m doing my best to make a decision and not hit any of the extra fees for month to month. But I am steady on being sure before I leap this time, I’m pretty clear on what I want and if I can’t find it, then we will just stay put for another lease term.
Going from owing 30k+ on an underwater car to buying a vehicle that fits your family IN CASH!?!
That is a HUGE DEAL! So awesome to hear. And all of this in less than 1 year?! Your extreme sacrifices have paid their dividends. Hope you take some time to step back and enjoy such a turning point.
Hope – LOVE hearing your story! You’ve had some great “wins” lately – doesn’t it feel great?
Can’t wait to hear about the car deal and your housing decision. How are the kids doing with the housing? I bet they are loving the pool in this heat.
Congrats again on the car win!