July Debt Update- Yearly Check In

Debt as of July 18, 2014

Student Loan- $0

Visa- $4,550.00

Student Line of Credit- $9,258.84

TOTAL: 13,808.13

As I was adding up the numbers for this month’s debt update I discovered something shocking. From November 2013 to July 2014 I have only managed to pay off $3128.13. Yep. That’s an average of $347.57 per month. Come on girl, time to give your head a shake and get your ass in gear! My Blogiversary is quickly approaching and I was really hoping to see more progress than that.

So here is my new goal, $4000 paid by my 1 year mark. I have actually sat down and drew up the most ghetto budget of all time on a piece of loose leaf for every pay from next week to September 18th.
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The catch is that the budget does not account for the interest I’ll have to pay or add up to the $4000. That’s where side hustle will have to come in! I’m going to install a countdown over on the side to countdown to my Blogiversary and $4000 paid. I’m still a bit discouraged by the look of only $4000 but I guess this is the (second) wake up call I needed.

I thought I’d also give you all an update on my 52 weeks of savings progress. Currently I’m sitting at $734.85 over halfway to my goal of $1400 and right on track! *Spoiler Alert* Hockey registration is usually $400 and might have to get paid out of this account early if I don’t get my shit together. I’m hoping I can make enough at my second job to cover this though. I also haven’t budgeted in the $150 for a cottage rental for the Labour Day weekend. A lady at my second job has graciously allowed me to rent her beachfront cottage on Prince Edward Island for the long weekend and I can’t wait! I’m excited to have scored such a sweet deal. I also like the idea of having a full kitchen in the cottage so BF and I can cook our own meals instead of having to eat out for each meal.

How are you guys measuring up to your yearly goals? How do you make your budget- are you an excel expert, post-it note perfectionist, legal pad legend?

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4 thoughts on “July Debt Update- Yearly Check In

  1. I hear you about being disappointed with how quickly you’er able to pay things off. I’m not working over the summer, so our debt repayment has been kind of stalled. Frustrating! At least you’re making some good progress. And I love your “ghetto budget”!

  2. I hear you – I’m not nearly as far as I’d hoped to be back in Jan/Feb earlier this year. But as shoeaholic notes, we will get there! Keep us posted on the side hustle, and in the words of every Adam Sandler movie ever, “You can do eet!”
    Looking foward to watching that countdown go, well, down!

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