Last month I wrote about how I was losing some major motivation when it came to my debt payoff. For August I was feeling much better and dug deep to find some much needed motivation. I was even surprised with how much added to my savings account for the month of August.
Debt Payoff Update: August 2017
Alright, well, I didn’t have too much going on in the month of August to distract me from picking up extra shifts at work.
The good news:
I was able to end up adding $615.27 to my savings account. That amount came as much of a surprise to me. I wasn’t expecting that. I chose not to apply any of that extra money to my debt. Due to my bad financial habits over the last several years, my savings account is virtually close to nothing. I want to make sure I have some cash in there just in case I have a large expense that unexpectedly comes up.
For example, about a year ago I had to suddenly replace the tires on my SUV which came to a price of around $700. Luckily, I had the savings to pay for that instead of having to apply it to credit. I’ve learned (I know, it took me long enough), that having a little bit of cushion will keep me from worsening my debt situation.
The Even Better News:
I was able to still take a three day vacation to Mexico with one of my best friends who was in town. The trip was rather cheap as far as vacation standards are concerned and as a rough estimate, I probably spent $375 on the trip. Sure, I could’ve not taken a trip and applied that to debt. I want to enjoy life a little as well, though. I don’t think negatively about it considering a recent article showed that most Americans go into debt over vacations.
Goals For September:
I don’t really have any goals that have changed for September. I do have a week of paid time off during my birthday in the first half of September. My goal is going to be not to try to spend too much money during this time. I don’t really have any major plans – just some well deserved time away from work. After that it’s full steam ahead.
Total Current Debt: $91,852.02
Last Month Debt: $92,971.47
Total Monthly Debt Breakdown: