Becoming Debt Free – Budget Update

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I didn’t have any new steps for this week. My goal was just to keep being intentional and purposeful about staying within the new lowered monthly budget.

As of last Thursday we’d spent about $144 of the $400 budget.  
This week the total has risen to $200.03, 

putting us on track to only spend $300 of the $400 budget for June.  That would give us $50 to roll over to next month’s budget and $50 for my husband and I to split as splurge/blow money.  My $25 will go into the Disney World fund :-)

This week I also took a look at our bank accounts and made a $350 extra principal payment on the first house.  My husband has been working overtime a lot lately so I’ll be able to put even more on the principal in the next few weeks. I’ve reached my goal of $2,000 extra principal for Jan-June.  I’ll be looking at everything this week to determine what my goal for July-December will be – it will be a lofty goal you can rest assured!

Let’s review:
Getting Out of Debt Step 1: Know how much debt you have and the associated interest rates.
Getting Out of Debt Step 2: Build an Emergency Fund
Getting Out of Debt Step 3 (Budgeting Step 1): Know how much money you have to spend and make sure your tax withholdings are correct.
Getting Out of Debt Step 4: Create a Budget
Budgeting Step 2: Track your current expenses– preferably 1 year’s worth – to see where you’re spending money.
Budgeting Step 3: Make a plan for all your money, taking into account one time expenses.
Budgeting Step 4: Check up weekly

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