In our last Debt Payoff Update for April we told you about how we were completely debt free other than our mortgage, and how my mom was completely 100% debt free! March was a pretty amazing month! So, it was a little bit of a shock this month that now we have the daunting task of building our savings back to a high level where we were before. I think when you are on a debt free journey, getting debt free is your only goal, and you don’t think about goal setting beyond just getting out of debt! (See all of our Debt Free Journey posts here).
So, now our focus is to save, save, save. We know each summer that hubby does not work and we usually travel. So far we have enough money saved (and enough extra coming in each pay) that he will not have to work at all this summer. However, it looks like he will be picking up some extra hours with his client this summer (He is a pediatric in-home care nurse). This year we have decided to take a modest vacation with family (to share the cost). We are also planning a two day trip to NYC. We are paying for the hotel night with our annual points. So, right now we should have some surplus this summer.
However, there are some things we really, really want to do, but we realize that these are not needs. So the debate is between saving and purchasing a few things. We need a larger bed! Our bed is 18 years old, so we are going to be needing a new bed soon, but we are still praying about waiting for a new bed. We also would like to extend our deck out back by about 10 feet. Right now the deck we have is only enough for a walkway, but nowhere for anyone to sit. To actually have an added deck space would allow us to place a table and chairs comfortably so that we could invite friends over in the summer. We also have a soft sided pool with a pole frame that we like to put up each summer. However, again, we realize these things are wants and not needs!
IF you want to be DEBT FREE, check out our Financial Freedom Accountability Program!
I’ve been telling you since the fall that we have been working through our Financial Freedom Plan to become debt free. We also showed you how we eliminated $20,599 in debt in one day! When we started this journey, we had a $20,000 IVF Loan, $6,000+ in student loans, and a $20,599 auto loan (started as a $30,000 loan). That’s over $50,000 in debt at the start of this process, and that didn’t even include our mortgage!
How we made changes this month to save and earn extra income:
- We continue to work on building our Young Living essential oils team to create extra income for our family. This past month our check was over $2,500. However, please note that we gave a lot of that back to new members who signed up as a thank you gift, instead of keeping our bonuses. We have been using these oils since last year, and they have made such a difference in our lives! While we have had to spend some money out of our business account for advertising, I think this will be worth it in the long run because we will earn residual income from future orders. We also made a decision to invest some of our business money into this business as well. It was a risk, but again, we hope to earn residual income from this investment.
- Using the Essential Oils to replace everyday household items has also helped save us money too! This month I made my own LLP Allergy Balm and several other ways to save you can find here. It works SO WELL! We are actually making some for friends because so many locals have been hearing about it through another oily friend! We have also continued to use the Thieves Cleaner and have not purchased ANY cleaners in the last month.
- We had been purchasing toilet bowl cleaner refills from Scrubbing Bubbles. These were costing us about $7 per month, so we opted to go back to a traditional brush and just use Thieves Cleaner!
- We continue to have large co-pays at times due to my husband and the baby’s asthma. This month was very difficult for my husband because his asthma was definitely out of control. He continued to use RC essential oil, but did get bronchitis which required another step-down dose of prednisone. As I write this, the baby has pink eye AND double ear infections again! This poor kid needs to catch a break soon! I will have spent $100 in co-pays in this week when these visits are all over. He sees the ENT next Monday, so I’m thinking we will be having tubes put in at some point as well. So, that has continued to create extra expenses for our family.
- Our 1995 Ford Explorer did break down (remember I told you about the trouble we were having last month!), and my father-in-law said he can fix it for about $25! 🙂 That is a HUGE praise! He said its the fuel pump, but he only needs to replace part of the fuel pump, which will make it only $25, instead of $125 + labor!
- Our Yugo (YES there are still Yugo’s out there! LOL), needed a new muffler/exhaust system, so that was $300.42. Again, I won’t see this as a setback, but just part of life. Hubby did as much of the work himself as he possibly could!
- Hubby continues to change the oil in our cars, which reduces vehicle expenses by around $75 every four months. That’s $225 per year! 🙂
- Hubby or I make an iced coffee every day and we RARELY purchase coffee out at Starbucks unless it’s a great deal or free! 🙂
- We both continue to pack our lunch every single day!
- As always, I coupon as much as possible, and continue to get as many items for as little as possible! I’m getting ready to do a Target deal tonight!
Prayer Requests:
- Please continue to pray for 11 month old. He is such a sweet thing and really needs a break! This is him below with his pink eye last night!
- Again, please pray that we stay out of the debt trap! Sometimes I think it’s easier to get back into debt once you are out of debt! Things look so tempting and you think you have all this money, when you really don’t! That’s money that needs to be saved!
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