This page may contain affiliate links. Please read my disclosures for more info.
Our Colorado June is filled with early morning sunrises, blogging while the birds sang their songs overnight, brief afternoon rains and two trips to Denver to visit our families.
I cannot believe that summer has been booked up for weeks, and it’s time for another debt payoff report.
Heads up: This page may contain affiliate links. You can check out my disclosures for more details.
June 2018 Debt Payoff Report – $1,824
I published our first debt payoff report in April this year.
If you missed out on last month’s debt payoff report, you can check that out also.
Some fun stats about our payoff so far:
- Start date: January 2017 / currently 18 months into the mortgage
- Current balance: $77,080
- Total paid off: $52,994, an average of $2,944 per month
- June interest paid: $242
- Percent complete: About 41%
- We’ve shortened our 30-year loan by: 16 years, 4 months
- If we stopped now, we’d have 13 years, 8 months left of minimum payments
June was a crazy, yet rejuvenating month. We saw Taylor Swift in concert. I have been a loyal fan since I was a freshman in high school over 12 years ago. Nick and I aren’t the best dancers ever, but we had fun and enjoyed our couple time.
While we paid cash for the tickets back in January, we also had other bills that kept this month’s payoff lower than previous months. We paid cash for property taxes and car rentals for our Alaska trip next month which cost about $940.
I’m really excited to be more aggressive in July.
In some ways its easier to have money set aside to avoid the months of lower debt payments. When I did the math, paying our tax bill in 2 interest free payments saved us a fru-fru latte’s worth in interest over paying 100% up front. I’ll take the savings, thanks. 😉
Our current balance is $77,080. It was $81 away from marking another line in our debt free chart. Hopefully, next month, I’ll be able to add a few more lines than the one line I added this month.
Related: First Net Worth Report: April 2018
June’s Finance Faves
I consume a little bit of personal finance content each day and want to share a few tidbits of what I’ve enjoyed, learned, laughed in June. There’s a wealth (pun intended) of information on the web for personal finance, each with a different spin on how to spend, save and give.
Veronika runs the debtstoriches account on Instagram and is a member of the #debtfreecommunity. She’s currently paying off six-figure student loan debt on a less than six figure income.
A recent post of hers was this:
I related to Veronika posting this since I have a house full of items that don’t get as much use as they should. In honor of this idea, I decided to sell some of my cloth diaper stash and use that money toward debt.
I sold the diapers for $90 making my cost per usage almost $0. I talk more about our cloth journey in my detailed, FREE cloth diaper guide if you’re interested in getting started. You can find similar diapers to the ones I used and later sold.
Getting rid of these diapers really helped helped clear out some of the baby clutter. While I miss the diapers, I’m glad to put that money on debt and get $90 closer to our goals.
Goal Digger Podcast
Other finance-related content I enjoyed was listening to Jenna Kutcher’s Goal Digger Podcast. Jenna is a business owner and discusses all things marketing, social media, fashion and travel.
In Episode 158, she interviewed Morgan Harper Nichols on building a personable brand as an introvert. Morgan is an introvert and shared the raw, honest feelings around creating content. She put the words to what I’ve felt each time I press the publish button. I felt so encouraged and inspired to keep sharing about my passions.
Finding balance while paying off debt
This month was a lesson in finding balance along the debt free journey. Getting to see Taylor Swift was so memorable. Her 1989 concert was within the top 3-5 best experiences of my life. Spending our dollars on that instead of on what doesn’t matter to us was exciting.
While I was happy to experience the concert, I had to constantly remind myself that it was in budget and ok to enjoy myself. Sharing one $10 beer isn’t going to delay our payoff or timeline to FI. Balance, Heidi, balance. 🙂
Goals for July
A few of our July goals are to:
- Meal plan more to avoid impulse buys
- Grocery shop while in Alaska for Terin’s allergies
- Stay in budget while out of town for 8 days
- Keep posting regular content on the blog 🙂