Read our last Financial Update here!
Five months have ticked by since this blog started. I remember as a kid thinking that a year took forever to go by, but the older I’m getting the more I think it’s true: the more birthdays you celebrate, the more time starts to fly.
I’m going to start off this month’s re-cap by saying this was probably our worst month so far in terms of how we were able to keep our spending and budgeting under control. We are still light-years ahead of where we were back before we became “The Debt-Free Family,” but it was a tough month on the budget. I pretty much have dreaded doing this re-cap, trying to think of ways to stall or brush over the numbers, even re-crunching things to see if I had made some huge error in my calculations.
Nope. No error.
Just a baby that turned one, a niece that turned 4 (and is soon moving several states away from us- bummer!), a dad that turned 50, and some good friends in town from across the country to boot. June was filled with festivities, friends, family, and a ton of traveling. Oh, and a bit of $$$$.
We did try to plan ahead and budget, but we didn’t do as well as I had hoped! We did stay on target with MOST of the budget- including gas and groceries. But we overspent some greenbacks in the gift fund and in the discretionary/fun money fund. By about $200 total. Oh, well. It was fun to celebrate some big milestones and life changes with our family and friends!
Here are the numbers:
- $430: Total Amount Paid to Debt This Month
- $7,500: Total Debt Left to Pay After This Month
- $8,000: Total Debt Paid Off Since February 1, 2011
- $2,206.61: Total Income This Month
- $1,800: Total Amount We “Lived On” This Month
- 8: Number of Months Left Until We Reach Our Goal of Being Debt-Free in 14 Months (down from 20 originally)
- 75: Number of Months Left Until We Would Be Debt-Free If We Followed the Government’s Minimum Payment Plan (NOT including interest)
- 6%: Approximate Percent of Interest Our Debt Accrues Monthly