embarrasing Experiments Finance Habits Self Improvement Update

Money and Debt – Second Quarter 2020 Update

Since I vowed to get my financial fitness under control in 2020 – I implemented some changes, and since 3 months have gone by in the blink of an eye – here are some updates (April 1, 2020 – June 30, 2020):

  1. I decided “I want to pay off my auto loan first” which was around $5,100.00 at the start of January.
    STATUS: I paid off my car by end of May 2020, and 18 months early! This was so exciting and a wonderful feeling of motivation!
  2. I put other little “challenges” in place for myself as well – like my “Starbucks 2020” plan – to make $100.00 on my Starbucks card last THE. WHOLE. YEAR. That meant every other week, I can get a drink that costs $3.85 or less.
    STATUS: Balance on card is at $69.76 which puts me at $19.00+/- OVER where I should be, if I was staying on my scheduled, bi-weekly “treat” interval. 
  3. I have two loan payments, and since last quarter I have added some debt to pay for: my certification course, starting my own business and purchased some big(ger) ticket items that I had been eyeballing. That means for Q2,  I started April 2020 owing around $42,000.00 total, and am now at roughly $39,000.00. With that – my new business is not a huge amount of income, but I am tracking it to use my income to pay back my debts accrued by the business, and then re-allocate to my other debts.
    STATUS: I have paid off roughly $3000.00 (but more in actuality since I re-accrued some debt during this quarter).

All that is in ADDITION to increasing my retirement allocation ever so slightly and still trying to balance all that life demands. It’s been a really strong start to my 2020 debt crushing year! My “plan” and forecast is getting better and better, and with each month, my debt goes down and typically once a year I get an annual bump in salary, and sometimes a bonus, so I can’t complain. All that said – I am PUMPED and really invigorated by the progress! I plan to be able to move abroad in the next 5 years – so that’s where all this is aiming me!



By DreamerSD

Life enthusiast

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