Man I have a had a busy few weeks. Things are starting to slow down and I have a feeling they are going to drag on for the next 24 days. 24 days until my dearest husband is home. Then we have two and a half months of weddings and family and friends and fun. Then off to training for me for nine and a half weeks. The military likes to keep life moving I guess!
Some people were a little skeptical about our plan to dedicate the next three years of our life to paying off a massive amount of debt. What about retirement? What about enjoying life? What about traveling? Well we haven’t done much for retirement, but once our debt is gone we will be putting 5 times as much towards retirement than we would now if we were spending and living how we used too. As far enjoying life? I feel like I have done quite a bit in the last 5 months, especially this last month. I have been fortunate to have a few work trips such as Poland, but I have also got to have some fun on my own. I have been to Houston, Texas to see a friend, celebrated a family wedding in the Black Hills, South Dakota and explored more of the great state that I reside in.
People may have been skeptical, but we were/are not. We are still 100% dedicated to our plan. I feel so fortunate that we are able to put a large amount of money towards debt while still being able to get involved in… life. This plan isn’t for everyone. It works for us because we want it and we have the ability to accomplish it in a relatively short amount of time. If we had the same amount of debt as we do now and were making half the income, it might not work. It would get discouraging; however, you learn to live within your means. You just figure out what you want from life and what is most important to you and your family. Instead of having $1,000 a month go towards debt in minimum payments for the next 25 years, we want to free up that money and have it available for when we have kids. That is what is important to us. Three years of hard work and dedication is nothing compared to 25 years.
I feel like I just blabbed a lot when I really all I wanted to say is this is working for us and we are still enjoying life. So lets get into the May recap.
Income – It was higher than we expected because we finally got our state tax return back. That was a whopping $209, but i’ll take it! We still are waiting for another state tax return, I should probably look into that. We also received $61 dollars for staying under the a lotted utility allowance.
Recurring Expenses – Everything was the same besides our phone bill. That was more expensive in May because of my Poland trip. I had added a 30-day international plan and I believe I still went over that data amount. Oops.
Spending – This is where it got bad. There were a few things I didn’t account for.
- Toiletries – Went WAYYY over budget on this one. I had mentioned it in another post that I was fed up with my skin. I wasn’t treating it right so I finally bought the proper moisturizers and some make-up to help cover up my flaws. I am not a big makeup wearer and it is really the one thing I hate spending money on the most. However, I absolutely love the make-up I got. I am still not sure about the moisturizer. I was hoping it would fix the redness in my face but it doesn’t. I was looking at moisturizers for my specific face issues and they run around 80 dollars… and I would need a day and a night! So, not sure when I’ll give in and get that.
- Bridesmaid dress – I forgot that I needed to finish paying it or at least wasn’t sure when I was going to have to make the other payment. But it is paid for and fits so we are good to go!
- Groomsmen Suit – This came up out of no where. I think shortly before this purchase is when I actually found out that my husband was going to be in the wedding. We are so excited for the upcoming weddings though! With us moving out of the country soon I don’t care what we have to spend to see our friends and family. Oh yeah, for those of you who don’t know, we are moving to ITALY!
- Houston trip – This was a surprise for one of my girlfriends. Her fiance bought my plane ticket as her birthday gift and I feel like I did pretty well at keeping my
spending under control. I hadn’t budgeted for it initially but when I found out I was going, I had budgeted $300. I also kept the entertainment fund under what I budgeted so really my trip was only roughly $175. 😉
Debt Payments – When I initially made the budget, I was expecting to be able to put nearly $4,000 towards our car, Penny. Unexpected expenses come up and thats ok. I feel like all expenses were worth it; except maybe my moisturizers. My face will thank me in the long run. We ended up putting nearly $3500 towards Penny and I still think that is a good amount!
The next few months are going to be busy and a little bit more expensive. Our income will be lower and expenses higher but we will make it work and try our hardest to save where we can!