November 2011 Financial Update

Read our last Financial Update here!

Remember how Mike and I are trying to pay off $15,500 in debt in as close to a year as possible? Oh, and meanwhile, generating an income somewhere in the $22,000-$25,000 range? Yeah, we’re still on that crazy ride.

We are now officially down to $6,100. That is incredible to write. January 1, 2011, we had $15,500 in debt. We’ve paid off $9,400 in 10 months. And that was in the middle of losing hours at a job, enduring outrageous energy bills (think $400, and rent was only $550), and then recently getting hit up with several big medical bills.

Which takes me to a side-note: you really do need an emergency fund. We have been able to pay off every single bill because we have an emergency fund. Every. Single. Bill. What could have easily turned into a mountain of new debt has been no biggie really. And thanks to a few free-lance gigs, we’ve replenished the emergency fund back to its original state, and are moving forward to erase the rest of our debt in the next few months!

The reality is that God has been very faithful to us. Mike and I more and more have seen that the Lord provides exactly what we need when we need it. For instance, Mike went for several months without any web design business, and just when we landed his most recent job, our medical bills started rolling in. Perfect timing.

I could get mad and say, “What the heck! I was looking forward to paying off more debt and being done so we can start saving up for fun things (like a new mac, new furniture, our own place for crying out loud).” And I definitely think those things from time to time. But it is so nice to be able to say that our needs our met, we are moving forward and not backward (albeit not on the snappy timeline I wold prefer). We have cash in the bank to pay all of our bills, even the unexpected ones.

Praise God from whom all blessings flow.

Read our next Financial Update here!

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7 thoughts on “November 2011 Financial Update

  1. Thanks for the update! I found your site right after you took a break (of course!). This has been very encouraging. I will be leaving work in a few months to better take care of our family. It makes no sense financially, but I feel like this is what God is calling me to do. It is not going to be easy, but I know God will take care of us.

    • Good for you!! It is one thing to try to be financially fit, but another entirely to sacrifice what is most important: the families God has entrusted us with. I would love to hear more about how it goes, and how the Lord provides for you and blesses you as you step out in faith!

  2. Welcome back! Like Misty, I also discovered your blog while you were on your break and I’m so glad to see you’ll be putting up new content. Definitely keep posting at a sustainable pace because you are a lovely writer and I don’t want you to leave the blog entirely!

  3. Pingback: And Baby Makes FOUR! « The Debt Free Family

  4. Pingback: June 2011 Financial Update | A Rich Household

  5. Pingback: January 2012 Financial Update: New Year Overhaul | A Rich Household

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