Well now that the slaughter that was August is over, its time to turn over a new leaf in September. I’ve mapped my budget, armed myself with a plan, and I’m going to tackle this month with new resolve. As such this networth update is going to have a distinctly forward looking feel.
August Money Sucks
Since I went through this in detail in my last post, I’m skipping this usual item in my monthly networth updates.
Total Debt ($-26,186.00) (-4%)
As much as I may have failed on the spending front in August, I kicked some royal ass in the debt repayment category. August was a five paycheque month for me which means that on top of my regular student loan payment of $301.46, my extra weekly student loan payments totalling $244.50, and my regular car payment of $206.50, I also managed to toss an extra $310 at my student loans, bringing my total cash thrown towards debt repayment this month to $1,062.46. Another month of putting over a grand towards my debt. I’d love to get to a grand a month on a regular basis, but for now, it only happens on five paycheque months.
In terms of rollovers, I had two this month. My student loans are down into the $16,000 range and my total debt is skimming the $26,000 mark. I can’t wait until I only owe $15,000 on my student loans and $25,000 total. It’ll seem like such progress! This is turning into a great year for debt repayment and I’m super excited to keep up this progress.
That’s a bit more like it. The temporary improvement in my net worth that I saw last month is gone as we’ve now booked our honey moon and paid for it with cash. I’m in the -$12,000 range though, it’s only a matter of time before I get to four digits!
The budgets this month are pretty awesome. With no trips this month, we have some spare cash to devote to buying things for the apartment, like paint, and a wine kit. Little things like that will go a long way to help me with my non spending spree that I’ll be embarking on. Also, due to us not travelling in the next few months, I’ll be able to boost my extra student loan payments. Generally, I pay an extra $81.50 towards my student loans with every paycheque (four times a month) but due to some budget sleuthing I’ve been able to boost these contributions to $100 per week. With that change, my total debt repayment every month will total $907.96. I’m getting closer to my goal of $1000 per month, every month. Of course some of that will be going to interest payments, but that portion is getting smaller every month.
This is new for me, I don’t usually set monthly goals, instead I tend towards bigger goals that take months to complete. But since I’ve completed all of my yearly goals, I thought a few, small monthly goals might be in order. Nothing crazy though, I’ve done my hard work already this year.
- Get my dog Molly to consistently walk on a loose leash. This seems to be tough for her, though I’m sure I’m part of the problem.
- Paint the inside of our house. I’ve been wanting to do this for awhile now, but with all of our travelling we haven’t quite had the funds, that’s changing this month though!
That’s not so bad. I have a good feeling about September, the cooler weather is calling my name and getting me energized for the fall.
How was your August? Are you looking forward to the fall? I want to know!