September Update

Another month down the road to financial independence! September was a huge month for us in a lot of ways. As mentioned in my last update, I received an after tax bonus of around $2000, which certainly went a long way this month. Unfortunately, we also had a lot of expenses pop up; car registration, a close friend’s 30th, another friends baby shower, and $800 of unexpected medical expenses. Alas, we persevere and remain focused on our goals.

Here is a snapshot of our forecast position:

Projected Sep
Car Loan  $ 17,785.05
Consolidation Loan  $ 12,410.15
Personal Loan  $ 5,055.51
Credit Card A  $ 1,016.81
Credit Card B  $ 6,175.21
Credit Card C  $ 6,136.96
Total  $ 48,579.69

And our actual position at the end of September:

Actual  Sep
Car Loan  $ 17,448.60
Consolidation Loan  $ 12,673.40
Personal Loan  $   5,151.87
Credit Card A  $   5.31
Credit Card B  $   6,223.09
Credit Card C  $   6,036.00
Total  $ 47,538.27

I must admit it is a little demoralising having to allocate a large chunk of my bonus to expenses we hadn’t accounted for, but then again it is also good to see that we are $1,041.42 ahead of our forecast position. Credit Card A is almost completely closed out, which is very satisfying.

Looking forward to October we have a goal of $46,162.89, which from our current position seems very achievable. However, we are forecasting more medical expenses to land in October to the tune of $2000. We have spoken about how this will completely eliminate our current gap between forecast and actual position, and have agreed to increase our weekly contributions by $100 each during the month of October, as well as selling some items that we don’t use (such as an iPad that is literally doing nothing in its box).

These little bumps along the road only serve to make the journey more interesting. I mean, you may get bored following along the way if it was all smooth sailing, right? At least that is what I will tell myself. Stay tuned for the October update!

4 thoughts on “September Update

  1. Sorry to hear about the medical expenses, I hope that it isn’t anything too serious. Great work on getting one of your credit cards almost paid off, hopefully you can smash out the rest fairly quickly as well.

    Funnily enough we also had an ipad sitting around in it’s box doing nothing, we ended up using it for our eldest child once he was old enough to know to be careful with it.

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    • Thanks for your kind words. Fortunately everything will be fine.

      We certainly will be putting a dent in the other cards over the next few months. My partner was recently promoted, and I am starting a new job early next year. We will really be able to ramp up our payments with the extra income flowing in. Exciting times ahead!

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    • Thanks familymoneytravel! I know many other bloggers have started from positive positions and that was a large part of my motivation to try and inspire others to sort their own situations out

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