May Update

Look at me, posting twice in a week!

April was a very expensive month for us, and May was not a whole lot better... so it was with great excitement (and relief) that I did the numbers for May and found that we were regaining ground, and that our debt had still come down.  I'm actually really looking forward to our next paycheck on the 14th, because it will mean  three (count em.  THREE) outstanding little debts that have been hanging over our heads will be paid off, freeing up more money for our next targeted credit card:  a checking account credit line for $515, a personal line of credit of $159, and a Visa card with a balance of $750. 

Total debt for May:

Down by $2147.23

A Long Overdue Update.... And a Challenge

Staring at a blank screen, more than a year since my last update.

I'd very much like to report that we are now debt-free (or at the very least, in a much better position than we were a year ago) which is why I haven't been updating... but alas, that's not the case.  We're still here, still in debt, and still plugging away.

Some positives first:

1)  We have paid off both car loans, so YAY for that.

2)  We're down to three credit cards with balances, one of which is due to be paid off in a matter of weeks.

3) I am bringing in a bit of money through teaching yoga, and most exciting of all:

4)  We refinanced our house through a new AZ program for people who like us who were so ridiculously upside down on our mortgages.  It has saved us about $700 a month, AND we are no longer upside down!  In fact, our overall net worth is actually in the black for the first time in forever.  One condition of the refi was that we need to stay in the house for another five years, which I've come to terms with.  We never really made it a home, because we never intended to stay here.  But now we are, so a home it shall become.

Finally, after a few months in a row of a lot of expenses - the kind of months where it felt like money was just leaking from our pockets - we decided to take a 30-day "no extra money challenge" in the month of June.  No going out to eat, no "extras", no running to the grocery store if there's something we can already make in our cupboard/fridge/freezer, no new clothes or shoes or anything that's not absolutely necessary.  Just for 30 days.  Partly because I want the challenge of just doing it, and partly because I know that a month of belt-tightening will surely help us get back on track debt-repayment-wise.

So, here we go.  Again.

February Update

Nothing special to report this month... happy that we held our own in February, even with two birthday parties, and various other "extras" that we'd neglected to plan for. We're looking forward to an even better March.

Total debt for February:
Down by $732.83

January Update

February is nearly over, and this is me finally updating for the month of January.  Two positive things of note as of late:

1.  We just transferred the balance of one (of two) of our cards with balances from a 16% APR to 2.9%.  If all goes well, it should be completely paid off in five months anyway, but the savings in interest will be huge, and will give our payments more power, and

2.  Our tax return was the exact amount needed for the deposit on my yoga teacher training.  The rest does not have to be paid until July, and while it will of course slow down our debt repayment for a month or two, it is going to be money very well spent.

February will show a very modest decrease (if at all), but March should get us back on track.

Total Debt for January:
Down by $340.24

A much overdue update...

It's been brought to my attention that I have been woefully ignoring this blog.  And it's true... it's been months, and it's embarrassing.  But take heart, faithful readers (all three of you):  I have not forgotten about this blog, and I have definitely not forgotten about its mission.  Paying off our debt is still a hugely important part of our life, and will continue to be for a long time to come.

So, for that update...

2011 was a good year.  I am thankful and humbled that even when the country as a whole was still having a terrible time financially, we were personally finally starting to feel an upswing (the depressingly sinking value of our house notwithstanding).  All told, our total debt went down $12,565.83 in 2011, and we hit a very cool milestone when we dropped below 300K - including house, cars, and other debt.  And that was with taking a 3-week, cross-country road trip.  Now, one could argue that it wasn't very smart or responsible to spend so much money on a vacation when we still owe 5 figures to credit cards alone.  And hey, that may very well be the case.  But having done it, having taken a family adventure like that, a trip that was literally a once-in-a-lifetime experience, would we do it again?

Yes, yes, a million times yes.

Did it slow down our debt repayment for the year?  Of course.  Was it worth it?  Yes!

We're cautiously optimistic about an even better 2012.  There won't be any three week vacations this year, but there will be a week to ten day trip to San Diego this fall, and starting in April I will be doing something I've wanted to do for years now, and start the process to get certified to teach yoga.  Those two big expenses aside, our "extra" money will again be earmarked for debt.

A couple of tangible goals for the year:

1)  Pay off another credit card, leaving us with just ONE remaining card with a balance.
2)  Pay off my car, leaving us with ZERO car payments, and two outright-owned vehicles!  We'll keep putting money aside, so that when the time comes, we can pay cash for our next used car. 
2)  Refinance our house.  Like lots of people, we are ridiculously ridiculously upside down on our mortgage, and there is finally a refinance option that may show some benefits for us.
4)  Bring in some additional income.  This one is all on me.  And I don't really want to bring in an income for the sake of bringing in an income.... but as a side effect of finally allowing myself to pursue some of my own passions:  writing, blogging, and teaching yoga.  And I am SO EXCITED about all of the above.

As for this blog, I want to commit to updating it at least a few times a month again, both for those of you reading, and for myself.

Happy, healthy, and abundant New Year, just a couple of weeks late.

September Update & Naysayers

I have been keeping this blog for three years this month, and for the vast majority of that time, everyone has been extremely supportive and kind. In fact, it took almost this entire time before I received even one negative comment about my writings about money. It wasn't even here; it happened when I took the - rather uncomfortable - step to talk about one of my shortcomings when it comes to money on my main blog. I think it's interesting that it's practically commonplace for people to brag about money, and it's completely socially acceptable to complain about money... but somehow saying the hard things and admitting an area where I might have need for improvement, and I'm ripe for ridicule.  And you know what?  Go right ahead, be cruel.  Make fun of me, throw my vulnerability in my face, try to make me feel bad. I'll pick myself up, remind myself of Dave Ramsey's words, "live like no one else so you can live like no one else", and shake it off. While it would be nice to be debt-free and, therefore, free of the need for the blog in the first place... it isn't happening in the near (or not as near) future. So, I'll keep plugging and I'll keep blogging... naysayers be damned.

Total debt for September:
Down by 2020.11

August Update

I spent a good portion of last month extremely stressed out about money... feeling the impact of a three week cross country vacation, and anticipating another 4 day, 4 figure jaunt to San Diego for a conference. What on earth were we thinking spending that kind of money? Was it a responsible thing to do, given that we should be focused on getting out of debt? But I don't regret it, on either front. It's paid for. And this month, I'm once again feeling hopeful and positive, because 1) we have no more vacations or extra big expenses planned for a good long while, and 2) we just took advantage of a great transfer interest rate and paid off one of our existing cards... which means that we're down to just two cards, our payments will have much more spending power and our balance will come down even faster. Yes!

Total Debt for August:
Down by $1263.16