$5,000+ Debt Destroyed! Financial Review – May, 2017
Welcome to the fourth installment of our monthly financial review. I check in to update 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.
So, where were we? If you take a look at our position as of 4/30/17, you’ll see that we had a total of $96,586.07 in debt. Coming off a somewhat disappointing April, we were definitely looking to have a big month in May. Over the past few months, we have been working hard to drive income from our jobs and side-hustles and cutting spending wherever possible. We’re focused on wiping out our credit card debt and remaining car loan within the next few months and have automatic payments coming out of every paycheck, before we have a chance to spend any of it.
The end result is that we paid off $5,161.73 in debt during May! This brings our debt total down to $91,424.34 as of 5/31/17. 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. Alyssa has picked up some side-hustle income walking dogs and pet-sitting and is really focused on paying off her car by the end of Summer. We plan to continue our awesome progress in June.
As I shared previously, we should have close to $5,000 extra every month to pay toward debt, and we look forward to CRUSHING IT in the coming months and sharing our progress along the way!
Have you gotten truly fired up about accomplishing your financial goals? What’s the craziest side-hustle you’ve done to make some extra progress?