Going, Going, Gone

I wanted to do a small budget update. I did not expect to pay off anything in 2021 since my debt was so high, but I was wrong. In December I was able to pay off one of my higher balance credit cards. I was beyond ecstatic!! I have paid off almost 50% of my debt thanks to the Budget Mom!

If you are like me and think there is no way possible to save a dime, you are probably wrong. My initial savings started with loose change. In about a year's time I was able to save $100 in change. Once I saw how much was saved I decided to step up to dollars. One savings challenge idea from the Budget Mom is to save every $5 bill you get. I tried this for a month, but had to stop because it was taking too much of my already low food budget lol. I did participate in the savings challenge courses the Budget Mom creates every year for a small fee, and that was helpful in paying off debt. 

My Christmas fund struggled a bit. I normally save a certain amount of money each check. With the rising cost of food, gas, and rent, all my extra money was gone. We saved up enough money for a PS5 last year. We waited in several queues to try to purchase one with no luck. I thank God we never got to purchase one because that was able to go towards the Christmas fund. We were a little disappointed to not be able to continue on with our PS5 plans, but we know it is just a temporary set back and as soon as we can we will start saving again :)

Through this debt free journey I have included my daughter in the plan. I want her to see why credit cards are bad. I want her to learn up front you should always save for what you want, instead of throwing it on a card. I want her to learn to create a budget and stick with it so she can support herself when the time comes. Whenever I work on my budget, she will pull out her money and work on hers. She has goals she wants to achieve and thankfully she is learning to achieve them the right way, by saving her money. 

I am so thankful to have stumbled upon the Budget Mom. She has helped to keep me motivated to become debt free. She has helped me realize I am an emotional shopper. I have gotten so much better, but those old tendencies like to creep up every now and then. Some days I feel like I will never have financial freedom, but I know as long as I do what I can, I will get there. 

I am excited to see what progress is made in 2022!!!

Happy New Year!

The Budget Mom

If you are in charge of finances, you will want to follow The Budget Mom on Instagram. I have been following her for a year now and am blown away at the progress I have made in my budget. Prior to finding her I didn't have a budget. I charged all of Christmas. I had zero savings. Financially I was a mess and didn't even know it. I now have a budget for each time I get paid, although I am still learning and tweaking. I am now prepared for Christmas and I have some savings. My journey began because I have so many places I want to travel to, but I never have the money. I got fed up throwing away my check to debt and finally said enough is enough. Throughout 2020 and a pandemic, I have been able to pay off five small credit cards, have saved for Christmas, and a few other things. I am now working on my larger debt and will not see the same amount of progress in 2021, but I am okay with that because at least progress will be made. 

This is an older picture from The Budget Mom's Instagram account, but her workbook is pretty much the same.

I am so excited to see what progress is made throughout the year!