April 2011 Financial Update

Read the March 2011 Update here!

We’re doing a little victory dance around here today because for the first time since we created our budget in January we actually managed to STAY in the budget! We did have to “transfer” $20 from our grocery fund to our gas fund (WHAT THE HECK- $4.15 a gallon now??) So that meant we ate well on $120 this month and somehow managed to pull off  keeping our car fueled, including a 2.5 hour drive back to our hometown for Easter, for $170. That might need to be revisited this month… or we’ll just have to figure out how to cut back even more!

Alrighty… here are April’s stats:

  • ~$18,000-$22,000: Approximate yearly income (depending on who’s doing the math!)
  • $2670.00: Our income this month (it was a bonus, 5-pay-weeks month!)
  • $1467: What we spent on stuff (all in our budget, of course!)
  • ~$15,000: Amount of debt we had when we started this thing in January
  • $9,733.21: Amount of debt we had left to pay at the beginning of the month
  • $1,266.37: Amount of debt we were able to pay off this month!
  • $8,466.84: Amount of debt left to pay AFTER this month
  • ~$6,500: Amount of debt we have paid off in 4 months!!!
  • ~36: Number of months it would take to pay off $6500 by making only the Standard Minimum Payment of $180/month (and that is NOT considering interest!)
  • 8/9: Fraction of time we have shaved off of the length of time it would take to pay off our debt if we only paid the Standard Minimum Payment
YAY! On we go… closer and closer. Do you have anything to celebrate financially this month? Leave a comment!
Read our next Financial Update here!
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4 thoughts on “April 2011 Financial Update

  1. great update! i feel a bit de ja vu when i read your blog, because we were on a similar journey last year. now, we’re on the other side of it, and it’s so good not having so much debt hanging on us! all the sacrificing, and determination does pay off- we paid off over $16,000 in 17 months, plus we paid cash for a new to us van in the middle of that time, and my husband had a job change which was pretty challenging!

    today we still have our mortgage, and one student loan left, but we’re in a much better financial place now, and we have a plan to be totally debt free, including our house, in less than 10 years 🙂 i can’t wait to read more of your updates, and see how you’re progressing!

  2. Pingback: March 2011 Financial Update | A Rich Household

  3. Pingback: May 2011 Financial Update | A Rich Household

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