Whew – May was a tough month. One of our kids came home from college for the summer so we’ve had to readjust our grocery budget… again. I’m working on another post about the grocery budget that I hope to publish soon, so be on the lookout for that.
We lost two more family members (5 total so far this year). We also made the decision for the husband to go to graduate school. He applied and has been accepted. I’ll report more on this next month though as it will affect our June budget.
Our projected payoff moved up another month, which is nice. Unfortunately, I already have some idea what next month is going to look like and I know it will likely go back to January 2020 briefly.
Our “baby” emergency fund is currently: $1,003.02
Starting Debt Amount: $53,285.44
(original projected payoff – December 2019)
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) – projected payoff at this point was – Feb 2019
During the chaos the debt increased: $62,211.73 (+$28,155.15)
December 2017: $47,172.13 (-$15,039.60) – projected payoff was – Mar 2020
January 2018: $45,587.13 (-$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)*
*Current projected payoff – December 2019
Speed Bumps Encountered
- Costumes – We thought we would be able to use stuff we had at the house for a volunteer acting project the kids are involved with. Turns out we couldn’t. – $90
- Clothing – We didn’t realize the husband was going to need some additional clothing for a business trip he has to take next month. I was able to cover most of it with our “clothing budget”, but not all. – $56
- Kennel – We knew our dog would have to stay in a kennel while we were out of town, we just didn’t realize we couldn’t pick him up on Memorial Day. So, he had to stay an additional night. – $35
Things We’re Thankful For
- Family – We were able to visit family this month. Unfortunately, my grandmother passed away while we were there. We got to see a lot of family we haven’t seen in years. We also got to see our son (who stays on campus over the summer as a work student).
Increase giving by another 3%– done! (began in February) Build our initial 2018 budget spreadsheets through August.– done!
- Switched over to EveryDollar Plus in February.
- Have monthly budget meetings with husband. – 5/12 done
- Will set an appointment for these each month.
- Reduce the debt using the debt snowball by $22,226.62
- Current (-8,826.88) – on target
- Will accomplish this with
bi-weekl ymonthly zero-budgeting.
- Cash flow college expenses for two kids. – Flights coming up soon – waiting to see if we can use frequent flyer miles from work trips!
- **NEW** – cash flow college expenses for graduate school (will show up in the June report)
That was May… on to the next billing cycle.