Whether we’re taking inventory of our expenses or our pantry… we’re finding ways to save money and knock out debt! Continue reading
You win some, you lose some… but we mostly win.
This has been a great month for saving money and knocking out more debt. Our financial advisor Sara has been so encouraging and helpful during the entire process. She has been so great at answering all of our questions and providing amazing support and guidance. At the end of the month she has totaled out our budget and shown us areas we have improved in and also where we still need to work harder. One win we had for the month of July was that we spent less than $100 eating out. The prior month, we had spent about three times that amount! That really helped considering it was hundreds of dollars every month wasted by not eating at home.
One area we still overspent in was groceries. Sara provided some great suggestions such as inventorying our panty and fridge and keeping a dry–erase board to mark items as we run out of them. I am excited to try this idea and see if it stops us from overspending and buying items we don’t really need. This next month we will definitely focus more on sticking to the budget that our Financial advisor has helped us with.
In addition to working on how much we spent this month, we have also been coming up with ways to make extra money. We made an extra $1,000 by selling unwanted or used stuff that we had sitting around the house. Not only did we make a ton of extra cash, but we also had a chance to declutter. We plan to continue selling things here and there and saving the money toput towards Christman or extra debt payments. Hugh has also worked a ton of overtime and all this ext
ra money was put straight to debt.
We paid off another smaller student loan this month and are on track to have another one HOPEFULLY paid off this month. We are also still contributing more than ever to savings. We have also gotten our kids involved by offering additional chores for them to earn extra money. They have also been learning about saving and the value of money. It has been so nice to be able to involve the entire family in this process.
This program has been the motivation we needed to reach our goal of financial freedom. It has really shown us how blessed and capable we are. Every month we look forward to seeing our debt going away and savings go up.