Monthly Savings Updates

Monthly Savings Report: July 2018

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Maybe it was because I was suffering from the post-vacation blues for the first couple weeks of this month, but July seemed to stretch on forever.

Or perhaps it was because I turned 30, an age that always sounded so old to me.

To celebrate my birthday, my cousins/best friends came down the weekend before (with donuts) and we played Harry Potter Clue. I woke up on the morning of my birthday to a card my husband had made for me, and I pretty much melted all over the floor. He and my stepdaughter brought a dozen donuts to my work, my boss bought me Zaxby’s for lunch,  and my husband made hamburgers and sweet potato fries for us later that evening. (Can you tell that food is all I need to be happy?!)

We continued on with home updates this past month, and I had a lot of fun choosing a rug, tables, pillows and decor for my living room. I really wanted to get our kitchen cabinets painted and get new flooring throughout at least the main level of the house, but those projects will be extremely expensive, and I’m not just willing to put off the start of our next goal any longer. So, we’ll finish up what we’ve started, get a new lawnmower to replace the one my husband has miraculously kept running the last couple years and replace the hand-me-down furniture in our other living room/man cave. August will be a magical month of “extra” paychecks for my husband and me, so we shouldn’t have a problem getting it all done.

We managed to save $3,674.27 in July. $3,025.38 of that amount was used on home renovations, decor and new glasses for Ron, leaving us with $648.89 to carry into August. This is in addition to our $5,000 emergency fund.

If you’re new to my blog (Hi!), the way we do this is by living on my husband’s base income of $2,400 per month and structuring our zero-based budget strictly on this number. His overtime earnings, as well as 100% of my salary, are transferred to our savings account. We decided when we paid off our home at the end of January to use our savings for the home renovations we’ve done the past six months before saving them for our future rental property. It ended up turning into seven months, and I’m pretty antsy to put an end to it and move on.

We have decided that on September 1, exactly two years from when we set our mortgage goal, we will start a new goal of saving to pay cash for our first rental property. I won’t go much into that now, but keep an eye out for the details as we get closer.

On another note, I can’t believe we have been debt free for six months now! It feels like just last week that I was in the office at my local credit union making our very last payment. There’s not a day that goes by that I don’t think about the fact that we own every single thing on our little one-acre plot of land. As often as doubt would creep in along our journey and I would wonder if we were doing the right thing by paying it off instead of investing that money instead, I have zero regrets. Being completely debt free is such an amazing feeling.

Alright, guys. How was your July? Let me know in the comments or check in with me on Instagram!

We paid off our mortgage exactly six months ago! Read to see what we've been up to, and what our plans are next.

We paid off our house six months ago! Read to find out what debt free life has been like for us and what our next plans are!

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