Monthly Financial Review – March, 2017
Welcome to the March installment of our monthly financial review. I plan to track our financial position at the end of each month in order to show our progress in real-time as we pay down our debt and live on a budget. Eventually, I plan to include a bit more detail and track things like how well we follow our budget, but for now we’ll settle for the basics. Remember, we’re still getting the hang of this blogging thing, and I’m dug in deep working as a CPA in tax season.
So, where were we? If you take a look at our position as of 2/28/17, you’ll see that we had a total of $102,778.95 in debt. We focused primarily on that during the last month and with Alyssa’s new job starting mid-month, we were able to make some great progress.
The end result is that we paid off $3,285.39 in debt in March! This brings our debt total down to $99,493.56 as of 3/31/17. We began this journey in January, 2017 with over $107,000 in debt, so seeing this progress is awesome and only fuels the fire to become debt free.
As I shared in Chapter 2, we only had about $500 extra in January and February income to pay toward debt. With Alyssa supercharging her income starting in March, we now have close to $5,000 extra each month to pay toward debt, and we look forward to CRUSHING IT in the coming months and sharing our progress along the way!
How are you sticking with your goals for 2017? Have you found any useful strategies for sticking with your plan in the long-term?