The journey out of debt, I’m on it let’s see how it’s going

Right now I am in the process of paying off a ton of debt. While I have spent  a lot writing about the emotional aspect of debt repayment I haven’t really spent as much time talking about the cold hard cash aspect of the debt repayment process. I just wasn’t “there” yet.

Now I am

I have 4 credit cards, 2 student loans, and a mortgage. For the rest of 2013 I will be focusing on the 4 credit cards. The mortgage is a non-issue as it’s SUPER affordable and then there are the student loans. I just don’t feel like talking about those right now. LOL!

Hardcore debt repayment has officially passed the plateau. Finally.

I talked about how I understood how people quit before debt repayment really happens last week. In that post I mentioned all of the things that I’ve been working on in order to create and sustain healthy financial habits. The list is pretty freaking long! I did go on a trip overseas during that time (I was a bridesmaid) and I worked very hard to keep the trip “affordable.” I only spent $300 dollars over the average that bridesmaids spend on participating in a wedding. This was the first time I was asked and as most of my friends are married I don’t think I will be asked again for quite awhile. I was very honored to be there with my friend and I don’t regret the expense. That being said, I am working on ways to grow my income and am having a lot of fun with it.

The financials at this point in time:

The DEBT so Far…

Credit Card #1-PAID OFF as of today!

Credit Card #2- Pay off date is September 1, 2013 (hopefully)

Credit Card #3-Pay off date is around mid-November 1, 2013 (hopefully)

Credit Card #4-Pay off date is around March 1, 2014 (hopefully) It could be sooner, but that’s what I’ve projected so far

Using my Sh$T

I have an ongoing series of posts called “I’m using my sh$t” You may have noticed that I didn’t do a post for May or June that’s because I’m still using my stuff. I DID use up product during my trip

And I did use a few more mini items other than the ones in the picture, however,  I haven’t used up enough items since I’ve returned home to do a post on them. I did have a minor slip up …when I walked into Bath and Body Works and purchased 2 body sprays, a body scrub, and 2 shower gels-all for $20 dollars!  Obviously, that’s a great deal but I need to stay out of the Mall!

Money Saving Habits:

**These are also mentioned in a previous post but I wanted to mention them again**

• Bring coffee to work. Make my second cup at work.
• Using my sh$t. Stop buying product. I’ve cut down my product purchasing by 98% (with the exception of last week’s hiccup).
• Menu planning-I try to plan and cook 2 or 3 entrees over the weekend for the work week. I also prep snacks  and think of breakfast ideas as well.
• Using what have in my pantry-I have a well stocked pantry and I try to utilize what’s in it with the fresh items that I purchase from week to week.
• Growing food in a garden. I’ve had a great time growing my first garden. So far I’ve enjoyed a ton of amazing, fresh arugula. Picked by my very own hands! Am looking forward to harvesting cucumbers and tomatoes soon.
• No car**this may change this fall. I might buy a beater towards the end of Fall. I currently use my ECO Pass (comprehensive bus pass) that is given to me by my job.
• Transitioned to using cash 75% of the time. Using cash has been a great way to cut down on impulse shopping.
• Actually keeping money in my savings account (this one is challenging). This one has been the hardest habit to develop. I am happy to say that I finally consistently have money saved.
• Bring my lunch to work-everyday! I’m a good cook so there really is no reason for me to buy lunch too often.
• Using up my Groupons/Living Social Deals-I’ve cut down on purchasing new coupons and am working through the ones I’ve already purchased.
• Doing as many free things as possible. There is a ton of amazing free and fun stuff to do in Denver. I have no lack of fun things to do during the summer.
• Looking for ways to make extra money. I have been actively finding short-term projects to work on to grow my income.
• Go to the grocery store every 2 weeks. This one is HUGE. Saves so much money and time.
• Track my expenses. I will be tracking my expenses again for the month of July as I think it’s time to do a “check in” on my habits
• Paying off debt=stop paying interest!
• Buying fewer magazines-I subscribed to several for $5 a title earlier in the year. The subscriptions have been a fantastic investment!
• Unplugging my electronics. No phantom load for me!
• Keeping my electronics forever! I’ve had my t.v. for over 10 years. It has rabbit ears and a converter box for reception.
• Check out movies/shows from the Library. Right now I have Zero Dark Thirty. I should be getting True Blood Season 5 sometime this month. Netflix costs $-I don’t want to spend it.
• No cable. I haven’t had cable for so long that I can’t remember having it.
• NO SHOPPING-this one was initially a challenge. I haven’t shopped for clothing since April 1, 2013. My goal is to stop shopping for anything that adorns the body for a year. Winter will be the hardest time for me because I need new boots. I am trying to figure out how to deal with that. I also need new tennis shoes for the 1/2 marathon that I will be running. Hmmm..

Let’s Hustle-Making extra $$

I would like to make extra money to put towards my debt repayment. Initially, I was hoping for at least $100-$200 a month. I have met that goal. Now, I would like to make at least $500 for the months of July and August. For the month of September I would like to earn at least $750 in extra income that month.

June

• $403-Per Diem Payment! I went to a conference at the end of May and put in a request for my per diem. I received the money last week
• Total: $403

July

• $150-I am watering flowers and a lawn for a super cool couple while they are traveling through Europe!
• $150-Blog related income
• I received a small raise that will kick in at the end of the month. I’m thinking it will be an extra $100-$150 a month.
• I keep looking on Craigslist, etc. for short-term projects that I can pick up (help people clean for a move, etc. Admin work)

• Total: $400-$450

Share your saving money strategies! How are things going? Are you hustling for extra money? What are you doing? Have you had some debt repayment victories? Share!

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Michelle

I am an obsessive foodie, but not self-righteous with it, love travel, meeting new people, helping you look good, and am freaked out by people who don't enjoying reading...something! Grab a Perrier, read my blog, feel free to drop me a line! Hope to hear from you soon.

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