Tags

, , , , , , , , ,

It has been a stressful month, but we’re still alive and kicking. It feels like the year is just barreling toward its end at a breakneck speed. So here’s September.

Baby Step #1

Our emergency fund isn’t a “baby” any more. I explained why this is in my update post.

Baby Step #2

It’s a little disheartening to realize we’ve been “at this step” for 5 years. I’m trying to focus on the positive, but I’m still disappointed that the debt isn’t gone by now. In the past five years we’ve had a huge house flooding incident, medical bills, college related expenses for 4 kids, and graduate school for the husband (plus some really stupid mistakes). These are all reasons to start the baby steps well before you reach middle age, people! Two of our kids are already on Baby Step #4 (and have never had debt), so we are changing the trajectory of our legacy even if it feels slow.

As Of:
Starting Balance: $53,285.44
September 2016: $52,035.26 (-$1,250.18)
October 2016: $50,243.99 (-$1,791.27)
November 2016: $47,627.15 (-$2,616.84)
December 2016: $45,352.38 (-$2,274.77)
January 2017: $43,814.66 (-$1,536.52)
February 2017: $36,084.65 (-$7,730.01)
March 2017: $34,056.58 ($2,028.07)
House flooded in April 2017 and the debt increased: $62,211.73 (+$28,155.15)
December 2017: $47,172.13 (-$15,039.60)
January 2018: $45,533.08 (-$1,639.05)
February 2018: $43,923.86 ($-1,663.27)
March 2018: $42,065.84 (-$1,858.02)
April 2018: $40,260.60 (-$1,805.24)
May 2018: $38,399.30 (-$1,861.30)
3+ year gap explained here.
August 2021: $18,919.33 (-$19,479.97)
>>> September 2021: $17,315.66 (-$1,603.67)

Baby Step #3*

Current Balance: $11,907.64
*Dave Ramsey does not advocate working on Baby Step 3 while you still have debt. If you’re just starting with the baby steps, follow his plan, not my deviation.

Speed Bumps Encountered:

  • Food Budget – I feel like I’m always battling the food budget, but this month was particularly difficult. There were several reasons for that: a) We still didn’t have the kitchen set up to actually cook meals and were buying convenience foods and eating out more than normal, b) Grocery prices have increased, c) The husband had to go out of town unexpectedly and ate out while there. – $937.86 (I’m rather horrified by this)
  • Family Emergency Visit – This is deeply personal. – $621.83

What We’re Thankful For:

  • We’re thankful for family.
  • We’re thankful that we had the money in our moving budget to pay to get our cars registered in the new state (ouch, it hurts to be taxed to operate something you already own).

FINANCIAL GOALS FOR REMAINDER OF 2021

  • Increase giving to 10% – done
  • OCTOBER FOCUS – Reign in the food spending!
  • Continue building and reconciling our EveryDollar budget each month. – 2.5/5 done (Yes, I’ve already built October’s budget.)
  • Monthly budget meetings with husband. – 2/5 done
  • Reduce the debt by at least $4,500 – (-$1,603.67 so far)
    • DO NOT add any more debt.
  • Continue to cashflow college expenses for last two kids.
  • In looking over this section from May 2018, I realized I had mentioned the intent to cashflow graduate school. Well, the husband graduated last year. Between military discounts, company reimbursements, and the cash we budgeted for it, he earned his MBA with a 4.0 GPA and without incurring any debt.

Well, that was September… on to the next billing cycle.