Now that I am working part time, I will be getting paid weekly. I thought for the sake for continuity I will stick to doing a monthly running total for our debts working on DH's 15th of the month pay day.
So we started this financial fast about half way through the last pay month (so around the start of the actual month...confused yet?).
Our debt amounts were:
Personal loan: $36,927.63
Credit card: $3,659.84
My main expenses since starting have been mostly work related, new pants and tops and shoes. I also had to go to the dentist.
Expenses:
Dentist: $102.00
Work shoes: $168.00 (on sale from $220.00)
Work pants: $39.00
Work tops: $19.88
Mine tour for family: $12.00
Morning tea: $11.00
Taking kids to the pool: $6.60
Total: $358.48
Because Ive never really kept track of my expenses before I am not sure how much less I am spending, but Im guessing this is quite an improvement. I am going to the shops a whole lot less and I am not spending money on my kids like I did before this fast started.
Im going to try to list our my expenses each pay month so I can see how I am going.
Our new debt amounts are:
Personal loan: $36,496.53 (-$431.00)
Credit Card: $3,602.42 (-$57.42)
I had to use the credit card this month when we ran out of money. Next months total should reflect the extra money I will be earning.
I have also had a bonus payment of $800 from the government which will be kept aside for the root canal I need to get done.
I was quoted about $900 for the root canal and I think my private health cover should cover nearly half of that. So whatever is left after Ive had the procedure will go straight onto the credit card.
It kind of feels like we just keep sinking deeper financially because of things like the root canal and our car being crashed into and us having to cover the insurance excess, but I am feeling hopeful that we will start to make headway very soon.
Being debt free is going to feel so amazing. Finally being in a position to buy our own house is worth a few deprivations this year.
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