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Doing it again…No Spend September

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Our no spend August went wonderfully and I am thrilled with the amount paid toward debt. Now that we have settled into our school routine, managed our challenging food/meal requirements and schedules and have another uneventful month ahead…

We are going to do another no spend month beginning tomorrow

First, I’ve got to restock our cupboards as we have really eaten through most of my stockpile.

What’s Going on This Month

These no spend months are not all that challenging when I look at the monthly calendar. So timing is definitely everything when it comes to make them a success.

  • The kids only have the one day out of school for Labor Day.
  • It is my mom’s birthday month, but we actually sent her presents with my dad’s previously.
  • While I am beginning to plan for the holidays, Christmas specifically, and do want to get my Texas family gifts ready to take with us at Thanksgiving, there is nothing I must purchase now. And this month of no spending will give me time to put some thought into it so that next month, I can get them all created and/or purchased and wrapped.

With all that in mind, it’s the perfect time for yet another No Spend Month.

This is my attitude these days. I have definitely embraced the bloom where you are planted mentality and have created a home and a life I love here.

Kid Update

There are lots of things going on in the kids lives.

History Buff

History Buff is facing some of his first adult disappointments. His full time job has denied his latest vacation requests. (He has not requested any days off since February.) They have denied his request for a long weekend in October, so he won’t be able to take our short family trip. (It was supposed to be for the state fair, but since that has been cancelled, we are brainstorming ideas for a quick 3 day trip.)

His request for our Thanksgiving Trip to Texas has also been denied. He’s more than a bit upset by that one. He has one more request in, to go see his girlfriend in Virginia for her birthday this fall. We will see how that one goes.

Otherwise, he continues to live at home, work and play video games…that is his whole life.

Sea Cadet

Sea Cadet will get back into the swing of things this month. He’s picked up full time work shifts from his part time job at an EMT for our local county. He’s had his interview for the fire fighter/EMT one county over but hasn’t heard back yet.

When he’s not working, he’s continuing to pick up training from GEMA and other fire houses. Last month, he completed his HazMat training.

He is considering joining the National Guard. And makes noises about returning to school, but hasn’t taken any steps towards that.

Beauty

Beauty has finalized her schedule for her senior year. And she continues to work at the local coffee shop 4-5 shifts per week. We are going to sit down with her Cosmetology teacher this week to lay out a post-graduation plan based on what she will need to get her cosmetology license and any training she will need to pursue a career in hair.

Princess

Princess is flying through school. She really is getting a taste of what college will be like with only being at the high school 2 days a week. (Her welding class is every, but it’s just 2 hours and there is never any homework.) She loves and excels at her job.

She took the SAT this past weekend. Her ACT score was great, but she wasn’t satisfied so wanted to try this other test. In just a couple of weeks, she will begin applying for college. I am relatively certain she will be accepted to her top choice school, but she does have a couple of backups picked out as well.

Right now, the plan is to do a drive by of her other two choices during our long weekend in October, just so she can see them. She’s done the virtual tours online. But I’m relatively certain she will get into and attend her first choice school. We visited it last year and while it took her a little while to warm up, I think she’s pretty excited about it.

Gymnast

Gymnast has settled back into home life here in GA. We finally got him a bed last week. It was purchased in July, but due to COVID related delays, it just arrived. He enjoys being the “new kid” at school. And is working diligently toward starting his own business. We shall see!

 

 

 

Hope’s Debt Update – end of August, 2020

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It has been an uneventful month. And that is truly a rarity around here. No crisis, no big decisions to make.

We’ve spent the bulk of the month getting used to Gymnast being back in the house, managing to get the two girls to their jobs and to the 3 youngest being back in school. It was also a no spend month for us. And that went great! I have paid off $3,927.15 in debt this month. Woot, woot!

I’ve cooked one big meal a day (Mon thru Fri) and then people ate when they were home. And we are continuing to eat through our pantry. So while I do plan to restock some things this next week, we are all eating things we don’t normally eat as we continue to eat through our freezer and pantry.

Our garden is now producing a plethora of bell peppers, tomatoes, okra and jalapenos, so we have those with just about every meal. The carrots are still baby, but edible.

And on top of all that, I have stayed on track with my debt payments…what is this month 4 in a row that I’ve made great strides in tackling my student loans?!? I am really proud of myself. Without further ado, here’s what the numbers look like going into September.

Creditor
Original Debt
Last Update
Current Balance
Interest
Min. Payment
Student Loan #1$17,000.00$7,460.01$5,982.282.88%$0
Student Loan #2$21,750.03$19,433.43$19,384.562.88%$0
Honda HRV$21,200.00$17,128.61
$16,571.433%$600
Total$59,950.03$45,865.42$41,938.27$250

You will notice that I have increased my monthly minimum payment on the car. (Instead of $250 per month, I am now paying $300 of every 2 weeks, set up as autopay.) This came after a discussion with my uncle who holds the loan. And was completely my call.

But I am still maintaining my original goal of focusing on paying off Student Loan #1 and keeping Student Loan #2 from growing by paying just enough to cover interest.

2020 Year End Goals

While I originally set my sights on paying off Student Loan #1 by May, 2021, that goal has changed. (And to think that was a stretch goal back then.) Assuming I can maintain what I am doing right now, I will have Student Loan #1 paid off by December, 2020. Just a few short months away!!!

Why in the world has it taken me so long to do this? To buckle down? I know the answer to that question. But man, hindsight is definitely 20/20.

What’s Next?

With that goal seeming pretty achievable, I took some time to look at my forecast and see where I would be come January, 2021 debt wise.

My debt numbers would be approx:

Student Loan #2: $19,200 (give or take)

Car Loan: $14,027

Here’s what I’m thinking:

  1. Beginning January, 2021, I will double what I’m paying toward my car now ($600 per month) beginning making it at least $1200 per month. I would pay off my car by January, 2022 if not earlier.
  2. I am assuming I will need to begin making minimum payments on my student loans again come January, 2021 (they are in COVID/government ordered forbearance right now.. That would be $306 per month toward Student Loan #2.

This would mean I would end 2021 with just Student Loan #2. And it would be at the point that if I maintained what I’m doing now with Student Loan #1 and then with the Car Loan in 2021…and then with Student Loan #2 in 2022…I would be debt free by the end of 2022 if not sooner!

That means I could be debt free in just over two years. I could be debt free before Gymnast graduates from high school. I could be debt free before Princess graduates from college. You have no idea how overwhelming that idea is to me! How absolutely unbelievable that I really can do this! For the very first time, it seems like it may be a reality and not just a pipe dream.

I CAN BE DEBT FREE!

 

 

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