by Hope
Boy, lifestyle creep is a real thing. But I am recognizing my proclivity to become more relaxed with my finances as I get more and more caught up. And I am NOT going to let up.
This time last year, we were making it on less than $2,000 per month, barely making it. And here I am making almost 4 times that and somehow, getting to the end of the month feeling a bit desperate. Yup, lifestyle creep is happening. And it’s got to stop now!
This month, I return some of my focus to saving more intensely. As of June 1, 10% of every bit of income is going directly into savings. I am paying myself first. I’ve been so focused on digging out and catching up, that I have failed completely to save. That stops now.
Priorities:
- Regular and focused savings: 10% of every income.
- Payoff personal loan debt.
- Make sure Princess senior year is paid for.
- Regular and significant payments to CC debt.
Before you jump down my throat about #3. I will explain in the next post. But there are this month’s debt numbers.
Debt Update
Debt Description | October, 2023 Total | Interest Rate | Minimum Payment | Current Total | Payoff Date (Est) |
---|---|---|---|---|---|
Personal Loan #1 | $2,500 | 0% | $500 (beg April) | $500 | July, 2024 |
Personal Loan #2 | $2,500 | 0% | $500 (beg April) | $1,000 | August, 2024 |
CC - Wander | $1,630 | 29.24% | $75 | $1,418 | September, 2024 |
Dad - New Furnace | $2,600 | 0% | $500 (beg July) | $2,600 | December, 2024 |
CC - Amazon | $1,497 | 29.99% | $48 | $1,433 | August, 2024 |
CC - Frontier | $3,857 | 29.99% | $131 | $3,618 | |
CC - USAA | $5,000 | 19.15% | $135 | $3,274 | |
Car Loan | $19,581 | 12.69% | Gymnast Pays | $15,532 | |
Student Loans | $22,121 | 2.875% | In Deferrment | $22,602 | |
CC - Apple** | $500 | Paid off every month | $0 | ||
CC - AMEX | $894 | 29.24% | $0 | $0 | Mar, 2024 |
CC - Sams | $1,106 | 29.99% | $0 | $0 | April, 2024 |
Total | $61,186 | $1,389 | $51,977 |