Month 14 of Our Journey to Become Debt Free: February 2014

Debt Totals through February 2014
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I’m a little late with this post, but Happy March! 🙂 Our February finances were only partially affected by my new part-time job, so we still made pretty decent progress. Our budgeted snowball amount for March looks pretty meek compared with what we’ve been doing. BUT, I am home with my little boy 2 days out of the week that I would not have been, so I’ll happily take it.

Here’s what we look like on our Monthly Snowball Totals:

Snowball Total through February

Like I said, don’t look for March to be as high next month. And here are our debt balances as of now:

Debt Totals through February 2014

So we paid the Civic down another $1,134 and are currently sitting at $7,242.71. That totals to 69% of our debt paid off. Yay!

If you’ll remember, I had set another small goal for us to have the Civic down to at least $7,000 by the end of March. We got this!

Not only do we have less income coming in now, but we’re also thinking of beefing up our $1,000 Baby Emergency Fund a  little bit. Our reasoning behind this is normally we have an extra $1,500 or so a month so if something did come up it was usually cash flowed through our budget. Being that we’re only going to have an extra $300 or so every month now, we feel like it would give us a little more security to have some extra. I’m not really sure when we’ll become “debt free” now though. Things are changing and I’m just so blessed that I have this opportunity to cut our income and be home more.

Our groceries came to $440.15 for the month. I am determined to get this D..O..W..N! Maybe March will be the month? We also went over in our clothing, eating out, and entertainment budgets by $25.70. We really need to get a handle on things like this now. We’re trying really hard to keep ourselves in check, but it’s HARD!

The CR-V also had some work done to it in February. It was leaking oil and had gasoline in the oil. It was in the shop about a half a day and cost us $190. The amazing thing there is normally when a vehicle needs work, it makes me mad. Somewhat irrational I know, but I think modern technology and we have this newer car and blah blah blah is going out and look at how much it’s going to cost me! Not this time. Instead I thought.. yep we knew buying an older vehicle might need more repairs here and there because some things are just wearing out and that’s okay. I mean at least it was only $190. I’m really excited that I have heat now! The thermostat had gone out so Lucas and I did not have heat on these cold mornings. Yes, Mississippi gets some cold weather too! It’s cold to us anyhow. 🙂

Have you started your Debt Snowball yet? How are you doing in 2014?

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3 thoughts on “Month 14 of Our Journey to Become Debt Free: February 2014

  1. 69% of your debt gone is awesome! And $440 of groceries for a family of three is pretty darn good, too. I have a hard enough time getting our groceries to $150/week. But, your posts have definitely helped motivate me to work toward even that goal. Keep up the great work!

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  2. Kim M

    I’m right there with you regarding car repairs. Between my husband’s and my cars, we’ve had almost $5000 in repairs in the past 2 months, including 6 new tires, front and back brakes on his car, back brakes on my car, high mileage oil changes (that were seriously overdue- by almost a year), new wheel bearings on all 4 tires on my car and an oil valve replacement on my car… and now there’s a squealing belt somewhere on mine when I turn left. It’s a never ending battle to keep them safe. I keep telling myself though, better to pay this $500 or this $800 repair now, than another $300 per month on a new car.. as badly as I’d like one. Hopefully this will be it for awhile!! Luckily, the majority of it was covered once our tax refund came in, but we had hoped to pay down more debt with it.
    Groceries, on the other hand… I really need to get a handle on that. We’re a family of 4 (my husband and I, a 5 yr old boy and 2 yr old girl), and still spend upwards of $700-$800 per month. Its just so exhausting trying to keep up on EVERYthing! You’re doing an awesome job, and have done so much in the past year, that this seemingly-minor setback of a decreased income shouldn’t hit TOO hard.. it may extend your debt-payoff a bit, but you’ll do it, easy!

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