Oh hello August, am I ever glad to see you.
Not that July wasn’t great. I traveled, I saw a concert, and I worked my butt off to have a very good month of freelancing. But still, July was a busy, busy month, and I’m happy to get started on this new month, with some new priorities.
July Money Sucks
July was a very expensive month for me. I had a few expenses left over from the wedding, I went to Cuba, and I went to Quebec city. Here are some of the things that sucked my money away this month:
- Wedding Expenses ($100) – Some left over expenses that involved paying a bill and buying thank you cards. Wow am I ever ready to STOP spending money on my wedding!
- Cuba ($400) – We took some spending money with us to Cuba, where I got sick and had to see the doctor, and pay out of pocket. Fortunately it’s fully reimbursable because we bought travel insurance, I just have to get around to filling out the forms.
- Quebec City ($500) – This money we took from our wedding gift fund, so this didn’t have to come from our budget, thankfully.
- Clothing ($148) – I went shopping at the mall for the first time this year! It was fun and I got some pieces of clothing I’ve been desperately needing.
- Pharmacy ($100) – Between the dog getting sick and having to buy her some medication, me getting sick and having to buy medication, and refilling my birth control, I dropped a wad of cash at the pharmacy this month!
The good news is, because we spent so much time travelling this month, we came in under budget on almost every single budget. I’m not talking $7 under, I’m talking $50 or more under budget in groceries, gas, entertainment, even our utilities bill was low! This is a great way to offset all of the cash we’ve been dropping lately.
Total Debt ($-4,373) (-23%)
Another month of cutting my debt down by a quarter! I’m now officially under the $5k mark for debt owing, and this month I surpassed $15k paid off in 2013! This is so awesome, words can’t even describe how elated I am to enter the 8th month of this year having already paid off $15,000 in debt. Since this is the first month I haven’t had student loans to pay, I’ve been doing some major cash chucking at my car loan. Here’s a break down of what I paid this month. I paid my regular minimum payment of $206.50 towards my car loan on July 6th, and each week when I got paid, I added an extra payment of $232.75, totaling $931 for the month. I was also able to add $237.50 in freelance income to that total, bringing me to $1375 for the month!
This month’s debt repayment isn’t actually as good as I thought it was going to be, since I had to take some unpaid time off and ended up using my freelance income to cover the difference, but it’s still pretty great and marks the 13th consecutive month of paying over $1k towards my debt. Only three months of payments left to go before I’m debt free!
Networth ($+5,798) (+98%)
This heading is now green to commemorate the fact that I no longer have a negative net worth! Don’t forget that I’m amortizing the book value of my car at the same rate that I’m paying it off. This means that as my debt on my car decreases, so does its asset value in my books. When the car is paid off, I’ll take it off my books. There is only one reason why my net worth essentially doubled this month:
- I deposited all of the monetary gifts we received from the wedding. They are now sitting as a lump sum in a savings account, making me feel very safe and comfortable. I don’t have any plans on how we’re going to spend that money yet, but the main theme of the discussions has been travel.
I’ve also been very lucky in that we haven’t had any real emergencies or unexpected expenses come up, so by squirreling away money often, my husband and I have finally been able to get our emergency fund to a place where it’s not quite so pitiful. It still has a long way to go and I have dreams of it being a big fat safety net for us, but for now, at least it insulates us from the more minor life emergencies.
I didn’t have any mini goals last month, because I was going on vacation and wanted to relax a little bit. Now that I’m back, I only have one goal in mind:
Chill the F*ck Out
It has come to my attention that once every few months, I write about being over worked, and how I want to slow things down. Then I continue on my merry way, being stressed and over worked, without changing a thing. Being on vacation has shown me that I really, really need to make some changes in my life to actually, really, slow down. So, I’m officially looking for a Virtual Assistant to help me with some tasks around the blog, so that I can focus more on writing, and less on commenting, sharing, responding to emails, and telling the umpteenth emailer that no, I don’t want your shitty guest post. Yes, this will definitely cut into my profit margins, but I need to slow things down, otherwise I’m going to crack.
So if anyone wants to make a bit of extra cash, get in contact with me through my contact page!
How did your net worth fair in July?