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I shared with you last month that I’ve had some credit card debt hanging around from an over-budget house remodel and dental implant that I can’t seem to make much headway with.
I am happy to report that I ACTUALLY made some headway last month and paid down my debt balance by $670 in August. My balance went from $9,800 to $9,130. I am on track to meet my goal to have the balance under $7,000 by the end of 2018!
My ultimate goal is to have it totally paid off by the end of next year and start the new decade with ZERO credit card debt.
Here’s what I helped me stay on target:
- Consistently making enough money with the blog to pay half of the bills, put money aside for taxes, pay for business expenses, and have money left over to pay down this debt.
- Making almost every meal at home last month (except when we were traveling to visit friends and family in Ohio/West Virginia which inevitably lead to more eating out). I resisted the temptation to pick up prepared food on my way home MANY times and that helped keep me on budget. If you want some inspiration for cooking at home check out my post with 10 weeks of budget-friendly dinner recipe ideas!
- Even when we did have to eat on the go I tried to find ways to save money. We met a friend at a Piada Italian Street Food and got our dinner for only $5 thanks to getting a reward for signing up for their app. When we stayed at a hotel on our way home, I stopped a grocery store and picked up food we could eat in the room for dinner and breakfast instead of eating at the pricey hotel restaurant.
- Resisting the urge to spend small sums of money when I’m out and about every day. This one is the hardest! When tempted to buy the coloring book or toy that my daughter doesn’t need (she has SO MANY of each) I am reminded of my goal and promise to pay off this debt. It really helps me be accountable.
September looks like it should be a pretty good month for staying on track – the real challenge will come during the holidays when spending tends to spike.
I’m going to start putting some money aside for the holidays now in my free Capital One 360 savings account so it’s there when I want it in December.
If you open a new Capital One 360 savings account with at least a $250 deposit you’ll get a $25 bonus – you can learn more about it here!
Do you have any suggestions for helping pay down debt or staying on track with a budget? Please leave a comment below!