Friday, November 1, 2013

Debt Accountability - Our Debt as of November 1, 2013

It's that time again... Time to confess to the world what my family's current debt situation looks like. As you may recall from my posts in August, and September, we have the following debts, and our ultimate goal is to be debt free. Our first step in doing so is to pay off the debts in Group A, which will then allow us to work on an early pay off of the remaining debt in Group B (our mortgage).

Group A:
A Student Loan (Natural maturity of March 1, 2015)
Credit Card 1
Credit Card 2
Home Equity Loan (Natural maturity of June 1, 2017)
Car loan (Natural maturity of May 15, 2016)

Group B:
Land Payment (Paid in full September 2013)
Mortgage (Natural maturity of July 1, 2039)

Unfortunately, I missed posting our progress as of October 1, 2013, but I was a little stressed out when I woke up that morning only to find myself on furlough due to the Federal Government Shutdown.

So, how did we do at reducing our debts in Group A in September and October? Honestly, we didn't do very well at all. I'm quite dismayed comparing November 1st's figures to that of September 1st. I was hoping to have made greater strides at this point.

In August our total debt owed for the accounts in Group A totalled ($24,531.17).

The value of the debts in Group A, as of September 1, 2013 was ($23,557.45)

The value of the debts in Group A, as of November 1, 2013 is ($23,467.43)

We paid down our debts by a severely deficient amount of $90.02 in the past two months. While it is forward progress, it's not nearly as much of a change as I would have like to have seen.

In reviewing our accounts I can see that there were a couple of things that played into the small reduction in our debts over the past two months. In September we took a small family vacation, and that reduced the amount of funds we had that month to put towards or debts. The memories that we made with our children during that weekend out of state are far worth the monetary expense though. October brought forth the furlough, which caused a pinch in our budget prior to being reimbursed for the time that was missed at work. I was fortunate in the fact that we were reimbursed, and it had no affect on the payment of our bills. In October we did a small home improvement project that involved resurfacing our deck, again this reduced the amount of funds we had available to pay down debts; however, it preserved our deck and will hopefully prevent us from having to replace the deck in the next few years.

I'm already anticipating that December and January will have little progress as we head into the holiday season and requisite shopping/gift exchanges.

Monday, October 28, 2013

365 Day Declutter Challenge Week 9 and Week 10

The Government shutdown threw me off my game, and I've been neglecting my blog for far too long. Excuse me as I take a few days/weeks to try to bring you up to speed on the Minimize This! activities that have taken place since October 1st!
Week 9: September 18, 2013 through September 24, 2013

Day 57:A pair of my daughter's shorts

Day 58:A plastic toy ironing board

Day 59:Yet another baby blanket

Day 60:A plastic bucket

Day 61:The photo is upside down, but a coat that my daughter has outgrown

Day 62:A bib - Given to daycare

Day 63:An assortment of plastic items from the "kid cupboard" no longer needed - recycled

Week 10: September 25, 2013 through October 1, 2013

Day 64:A pair of sunglasses the my daughter has outgrown - packed away for my niece

Day 65:A pair of hubby's socks that were too far gone to warrant folding - trashed! Shhh, don't tell him!!

Day 66:A pair of my daughter's pajamas that she's out grown - set aside for my niece

Day 67:Expired sunblock and diaper rash cream, removed from my son's backpack - trashed

Day 68:Tupperware salt and pepper shakers

Day 69:A stack of summer clothes that my son has outgrown - set aside for cousin

Day 70:A stack of shirts I no longer wear - donated via a "planet earth" yellow collection box