June: the never-ending month of birthdays and extra spending.
Don’t get me wrong, I love the people we purchased gifts for this month, but golly, the extra spending seemed never ending because our gift envelope was empty before the month even started. I vow to never try to get pregnant that would result in a May, June or July birthday baby, ha! Too much information? I’m just being honest. Eight birthdays, two Dads for Father’s Day, a wedding and our favorite Troy brewery turned four… much to celebrate!
Despite all of the spending…
We paid off another student loan!
When we started this journey back in September, we owed $14,443.03 on this student loan. It was originally taken out back in August 2005 and was originally projected to be paid off on 9/25/2029, according to Navient. We paid it off 11 years and 4 months ahead of schedule – boom pow!
We started tackling student loan 5 of 6!
We are down to the final TWO debt balances! TWO! Yes, they are the largest but I can see that little flash of light at the end of the tunnel. We are now tackling unsubsidized Stafford Loan 1-03. The beau originally took out this loan back in August 2007 and its original balance at 5.8% was $12,000. When we started this journey back in September, the balance was $16,656.09 and if we stay on Navient’s track, our anticipated payoff date would be 2/25/2036. My personal payoff goal for this loan is October 2018… that’s a 17+ year difference! After all we’ve dumped on to the balance this month, the balance is now $11,239.87 rolling into July. *Note: we are just now under the original loan balance, ugh! Watch those income based repayment plans if you can…
Our income based repayment plan was denied.
I discussed this on my IG stories a couple weeks ago, but realizing that some of you don’t follow me there, I’ll share on this space too. We refiled the income based repayment plan application at the beginning of the month and were declined because we filed our taxes jointly this year and both of our incomes were included in the decision making process. I then refiled indicating that our finances are separate, and we were declined a second time because the beau “makes more than the poverty line…”
…which is bullshit because when I asked what the poverty line is, she told me $44,000. Last year when we filed and were granted an IBR plan, he was making more than that number soooooo that makes zero sense and she couldn’t justify the difference in the decision making process. All they know is that he got a $2,000 raise and that’s “too much” money and think he can now afford a couple extra hundred dollars each month. A $2k raise only equals an extra $56 each payday. I’m frustrated because their process for granting IBR plans is flawed but I’m thankful I am on this plan because if we didn’t have a plan, going from a $65 payment to a $276 payment would be so so overwhelming. I didn’t fight it and they didn’t ask me why or how we were paying off the other loans so quickly, so I just let it be.
I got my fitness on!
The beau won a free gym membership at his work health fair day! Whoop whoop! Fully knowing he wouldn’t take advantage of the membership (he rows at home almost every day), he let me have it so that I could start spinning again. Love I tell ya. I reached out to my coach to readjust my schedule and I’m now spinning 2x per week, giving up my recovery runs. Spin it to win it! I’m still aiming to run 4 days a week and for the most part I stayed on track throughout the month of June. I ran 106.89 miles this month, a significant increase from last month! My mileage isn’t as high as I think it should be (because I slacked the last couple of months) but I’ve got two months to slowly increase the time on my feet. In July I’d like to hike at least 4x and complete 2 loops at each ARE STRS location. Gotta get more time on the trails, it is a trail race after all.
I survived my first month without meal planning!
This was hard, y’all. I’m a planner. We both enjoy knowing what we’re having for dinner when we walk in the door every night and I like walking into a grocery store with a specific list and a mission to come in under budget. It’s hard staying under budget without a plan! But we did it, BARELY, and I’ve already got a new game plan for July.
Instead of planning the meal, I’m going to plan the carbohydrate for each dinner. We’re pretty good at getting creative with ingredients and this way we’ll have a general idea of what we’re going to end up with. And this method will help me stick to shopping twice a month. In example:
Wednesdays: homemade corn tortillas
Thursdays: pasta… and so on.
We have zero time to prep for our CSA delivery each Saturday but so far we’ve been able to easily incorporate / eat up everything. I can tell you it’s wonderful not purchasing lettuce! We’ve got so much growing in our garden, coupled with the deliveries, I’ve been adding lettuce to my smoothies to use it all up. I’m loving the variety – yes, even the zucchini (NOT my favorite)! I checked out the Chloe Flavor cookbook from the library and cannot wait to cook my way through it this summer; the scallion pancakes, cauliflower tacos and corn chowder were delicious! (You can photographs of those meals on IG FYI)
Other fun facts about June:
We finally got our chimney repaired! This home repair has been looming for the last couple of months but it happened the first week of the month and yes, not only did we pay cash ($1,000), but we got a slight discount for doing so. Cash is a motivator, friends! Once the work was done, we withdrew the last of our savings ($500) to dump toward debt, leaving $1,000 in our emergency fund per Baby Step #1.
The only other non-gift that we cash flowed this month that was not part of our original June budget were two metal clothes racks off of Amazon. Total: $2.89, using the Amazon gift cards that we earned from CDPHP to cover the remainder of the balance. We had one wooden rack that was probably 10+ years old and it finally broke from the weight of wet clothes and I knew this was an item I wanted to upgrade, and duplicate. Not only does drying clothes on a rack extend the life of your clothing, it also saves you money on your utilities bill. Win win!
Numbers wise, we paid off 23.41% of debt this month, totaling 68.14%! Two thirds of the way done! Our balance is now $28,401.41, having paid off $60,674.04 since September. LESS THAN $30K TO GO!!! Pinch. Me. It still blows my mind that that much money has passed through our hands over the last ten months. $60,674.04 of essentially extra money. That’s money we’ll never see again. That’s money that wasn’t spent traveling the world. That’s money that wasn’t spent fixing up our home, investing for our future, or given away to local charitable organizations that mean something to us. But soon we’ll be able to do all of those things, and more. February 2019 is my new payoff goal: I’d love to celebrate our second wedding anniversary debt free! You read it here folks, eight more payment months!
When I sent our final stats to the beau after I made our last payment of the month (I’m the nerd), he asked, “how’d our numbers get so big this month?!” This was my response:
- $500 as mentioned above was transferred out of savings (we are officially down to $1,000, so this won’t happen again)
- $1,500 reimbursement: the beau took a class this past Winter and paid cash from our savings in full; his job finally reimbursed him
- June was a triple pay month for the beau: we deposited his entire 3rd check toward debt
- the rest was all side hustle!
For the last three days of the month, our bank account / spending was on hold (because we made our final payment for the month toward debt). The beau wanted a six pack – sorry, no money I kindly reminded him. The beau wanted to go buy waffles – sorry, no money I kindly reminded him. Well, the beau wanted ice cream… so he found a blood drive. After giving a pint of blood on Saturday, they gave him a coupon for one free pint of ice cream! I have never laughed so hard! Now THAT’S sticking to the budget and giving like no one else!
Goals for July: have any? Feel free to take the leap and share them below!