Starting Debt (01.01.19): $124,310.77
Current Debt: $107,793.15
Total Paid Off: $16,517.62
Today was not a great day. Today was a day I had to text my wife to let her know that, at just halfway through the month, we are already about 70% of the way through our budget.
I’ve read books by David Bach which state that budgets never work, and I understand the point he’s making that if you try to run your life on a budget that you will wind up hating life. I will get to a point where we are no longer governed by a budget, but we’re not in a spot for that just yet.
Right now we are digging out from a substantial amount of debt. We don’t have a nest egg or savings to utilize, and thus every penny we make goes to paying bills. The “budget” I’m referring to is literally the money we have left from the paychecks I’ll receive this month.
Next month we will refinance the house, and this will help. While helpful, these types of relatively small steps won’t solve our problems. This is going to take a long time, and a very mindful approach to how we address the situation we are in.
I know this might feel like a somewhat non-sequitur post, but it’s something I plan to do more. I’d like to utilize this blog for two purposes:
- To help others realize that they aren’t alone in the choices that they made that may have put them in a tough financial situation.
- To track my journey (bad days and all) to hopefully rectify my mistakes and get my family on the path to financial well-being.
Today was not a good day, but I can almost bet tomorrow will be better.