Debt Payoff Report: Month 8

Can you believe a third of the year is over already?!  With my eyes set on the prize of paying off our home, I have to keep reminding myself not to wish the time away.

April was a good month! My ever-hardworking husband willingly took all the opportunities for overtime that he could, and as always, every penny he made was used as principal payments on our mortgage.

We are now 54% of the way done with our goal of paying off the house in two years. What excites me is that 40% of it was paid during the last eight months since our journey started. With eight months left in the year and 46% to go, we should be able to knock it out this year, depending on how much overtime Ron is able to work.

[Edit: We did it; we’re 100% debt free! Check out my very last mortgage post here.]

I hope everyone had a great Easter! We celebrated as always at my Granny’s house and reused last year’s plastic eggs for our egg hunt. I made two desserts, and my stepmom brought Easter baskets for the three kids in our family. We left the Dollar Tree four dollars short of the $20.00 we had budgeted for our daughter’s basket, and I think it turned out adorable. I didn’t use grass because I detest the stuff, and even at a dollar, it’s just a waste of money.
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If you read my last monthly update, you are aware that mine and my husband’s one year anniversary was on Easter. You’ll also know that instead of pausing our goal to save for a romantic vacation, we chose to continue throwing money at paying off the house. I was and am perfectly okay with this decision, but I could tell that people didn’t know how to respond when after asking what we were doing to celebrate our anniversary, we replied, “nothing.” Even though everyone knows that we’re working toward this goal, they definitely do not understand the level of dedication and sacrifice required to make it happen.

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Coming up in May, we will have to add some wiggle room to our grocery and entertainment categories in our budget. Between several birthdays, Memorial Day, and all of the get-togethers that come with the warmer weather, we will need to be realistic about how much more we will be spending.
In addition, we have decided to increase my husband’s spending money. With the nature of his job, he is often out and about and sometimes has to go to Knoxville with his boss or coworkers, where bringing a lunch with him isn’t very feasible. We’ve been budgeting $20 each for pocket money every month since our journey began, so increasing his is definitely not going to break the bank.

This month’s snapshot is below:

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Hubby did not like my new format.  What do you think?

This past month I’ve been reading Zig Ziglar’s “See You at the Top,” and I have been so glad to hear that some of you have been inspired by the quotes I have posted on Instagram and are now reading it. If you need help staying motivated to reach a goal, or especially if you need help setting a goal, this is a great book to read. Check your local library or yard sales in your area. I snagged mine at an estate sale for $2.00.

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I recently decided to stop listening to Dave Ramsey’s podcast, which may not sound like a huge decision to some people, but after five years of listening every weekday, it was for me.  I love Dave, but at this point in my journey, it was just getting repetitious, and I can’t relate to most of the callers anymore.  With it being a three hour show, it’s a third of my day at work, and I feel that it would be better spent learning new information and perspectives.  I do miss his rants though.

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The podcasts I have been listening to are below.  I am so happy to have finally heard about The BiggerPockets Podcast (I don’t know how I hadn’t before), as passive real estate investing is our big goal.

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Before I wrap things up, I really want to thank you guys for all the support you’ve shown me along this journey and especially here recently with my wristbands.  It absolutely makes my day seeing photos on Instagram of you guys wearing them, especially when I see them on your wrists in your stories.

There are now 32 of us wearing these daily reminders of the lifestyles we’ve chosen!

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Have a great month, everyone and stay tuned for journal posts and future monthly updates along my Quest for (Financial) Freedom!

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