Saturday, March 1, 2014

Month 16: Debt Repayment Update

A day late since today is the first day of March. I find I drag my feet on reporting on my goals when they aren't being achieved than when I'm on top of them but I think it is so important to also share the times when goals aren't met. February brought with it a number of additional expenses (some unforeseen) and a continuation of work being slow for DH with the cold temps and a lot of wind and precipitation. Since we've been getting tax forms, I also had the opportunity to correct some of our outstanding debt amounts that we received yearly statements for which adjusted the number upward by a few hundred dollars and accounts for a portion of our increase in debt. Since last month, we are up $1989 which leaves:


Some of the expenses that came up this month:

Licence Plate Sticker Renewal (Happy Birthday to me!): $90
Car repair/maintenance: $600 - had anticipated $150 for oil change and inspection that was due but they found my water pump was cracked - alas the bill went up substantially. 
Kitchen plumbing issue: $80
Paint and painting supplies for the nursery: $250 

Also a number of birthday parties, school fundraisers, etc. Life. 

We're just waiting to receive a couple of documents in the mail in order to file our taxes but at the moment it looks like we'll be getting a decent tax return. This will help to get us back on track to paying off $10K this year. I've been thinking a lot about reframing our debt repayment in terms of building net worth. Wondering if this approach will motivate or trick us into paying debt down faster since we're essentially paying ourselves. 

No comments: