A friend called me “frugal” this month, but she called me “frugal” in the way that people do when they’re trying to be nice and avoid calling you “cheap.” That’s cool. I own it.
I know this is a little early but I want to go ahead and get it done. It’s a busy side-hustle week and I don’t want to miss an opportunity to get this post up! Because I’m posting a little early, there may be some things that won’t be perfect, but that’s okay. (I doubt anyone but me would notice anyway!)
According to my calculations (and I always worry that I’m not doing something right), we had a total debt reduction of $1444 this month. This is substantially bigger than our debt reduction of $885 in the month of March. It’s still depressing when you figure that we’re paying MUCH larger debt payments each month but still only reducing it by a fraction of what we’re paying (does that make any sense at all?). We spend a total of $2142 in debt payments (mortgage, Citibank credit card, and Car Loan) a month – and that’s the minimum! Usually we are able to snowflake even more than that. Anyway. Math. Interest. Ugh.
But check out the total debt reduction from December 2013 to now! More than $7K in about 5 months!
I got my first paycheck for my Side Hustle in the first week of April. I was disappointed that we had done so poorly in March, because this is how I had to spend that check:
- Some went to H’s business expenses: $375
- Some went to L’s activities: $130
- Some went into sinking fund savings (otherwise we wouldn’t have been able to contribute any sinking funds this month): $450
- Most of the rest went to CC payments: $35, $235, $334 (numbers have been rounded)
- Was able to snowflake the remainder ($125) to the Car Loan
- Side Hustle Check Remainder (as mentioned above): $125
- Chase Cash Back Rewards check: $30.89
- Propay (for selling Mary Kay): $109.93
Review of our 2014 Goals:
Mintly Goal #1: Pay off our Citibank credit card
Verdict: It’s down to $1000! This is awesome.
Mintly Goal #2: Pay off our car loan
Verdict: Getting there! The goal is still June 15th, though it might be even harder to achieve that than I originally thought. As soon as I get my side hustle check for April, I’m really hoping to take a big chunk out of this!
Mintly Goal #3: Save for known expenses that don’t occur monthly (sinking fund)
Verdict: Yes. It’s disheartening to see the money actually leave the account as often as it does, but… that’s what it’s for, right?
Mintly Goal #4: Snowflake any extra money to consumer debt
Verdict: Yes! $265.82!
Mintly Goal #5: Track Goal Successes
Verdict: Trying not to get discouraged, so this does help…. As does looking forward to June 15th, when hopefully the Car Loan and the Citibank card will both be $0!
Money Accomplishments this Month:
- Still hustlin’!
- Those two tubs worth of clothes that I consigned in March have finally been processed and while only four items have sold so far, they accepted a large number of the items and have priced them pretty high! I only get a percentage of course, but I’m hopeful that the items will sell quickly and I’ll make around $40 for them… maybe more, by the time all is said and done.
Money Setbacks this Month:
- We didn’t get reimbursed for any of our business expenses in February. Grrrr. Keeping fingers crossed that they come early in May.
- I bought Starbucks without a giftcard. I think I might feel too guilty about this.
- I had a business trip that will involve being reimbursed for my food and hotel, but it makes our finances look extra bad this month (being waaaay over budget on food, for one).
- Due to these expenses, I still have a balance on one of the cards. I won’t be able to pay it off until we get paid again (or else we’ll overdraw the checking account! dear, dear). I guess the difference between the payment and what’s left in our checking account will come out of my side hustle paycheck. Should be only about $50.
Life (as in, Non-Monetary) Accomplishments this Month:
- I applied for an opportunity only open to teachers. It would involve a year’s worth of research and work if I’m accepted, but it pays a cool $10K (before taxes). Daay-um! (Bonus: looks good on a resume!) I’ll find out about it at the end of May…. Keeping my fingers crossed.
- Went to the last chamber orchestra concert of the season with my friend and sister-in-law. We’ve had season tickets and I’ve loved every concert. Spirit-renewing. Worth the money.
What I’m Looking Forward to in May:
- Spending my Side Hustle check for April! I haven’t decided how I’ll divide it up, but some will go to the Car Loan, and some may go into some combination of Roth IRA and / or Savings. May need some advice in this area….
- H will maybe actually get paid for his gigs that he did in April and maybe we’ll get reimbursed for his business expenses from back in February?!
- L’s birthday on May 1!
- Spending less on daycare, because we’re going down to two days a week after the first two weeks of the month! Looks like we’ll save over $200! And hey, this is the last month we’ll ever pay for daycare! Craaaaaazy…..
I have a few posts in the works – will be getting them up soon. Looking forward to getting some feedback on some money quandaries… And how was your April?