july 2012 update

Happy Monday everyone!

So here’s my current situation with the loans:

If you read my last monthly update, you’ll recall that I thought I would be receiving an over $1000 windfall from my landlord which I was planning on using towards wiping out my non-direct loan completely.

Well, long story short – that didn’t happen. I’m getting some money back, but definitely not all. I don’t want to talk too much about it, but let’s just say that money changes people and some would do almost anything to keep yours, even if it means accusing you of doing something that you clearly are not capable of doing.


Now, I’ve got to be completely honest with you guys. I spent a lot of money in June :( I went out more than I should have, and I spent more of my “spending” money than I budgeted. I’m not perfect, and I think it’s important to know that just because you have a plan in place, things don’t always go as planned. Mistakes happen, as well as other events that might be out of your control.

But at the same time, I don’t regret overspending. Yeah, June was a little tight budget-wise, but I spent that money as I was spending time with some very important people in my life. It’s also important to just have fun once in a while! Now, if I were going out all the time and if I was reckless with my money, then that would be a problem. Don’t worry, I know how to control my spending at restaurants (and I hope to share some tips soon)!

Fortunately, I sent in my loan payments as soon as I had the money for it, so I’m not behind in my loan repayment schedule. I always make sure that once my paycheck comes in, my credit card/rent/loan payments go out right away. That way, I’m still on track with my financial goals and I’m forced to not spend that money on unnecessary things.

July is going to be a big month for me and my family. A few days ago, we received the keys to our new house (which is under my name)! Not only will this look good on my credit, but my family definitely needed to move into a new place. New house, new beginnings :) However, it feels as if the packing will just never end! I thought my apartment was bad – cleaning up the house I grew up in is 10x worse!

We plan on officially moving in sometime in the first two weeks of July. But until then, my weekends have been full of furniture shopping and packing!

We don’t need to start paying the mortgage until August, so you can say that we’re saving money in July. But really, we’re spending the same amount we would’ve spent on the mortgage on new furniture, paint, new fridge, etc. Moving is not cheap!

We plan on having a garage sale sometime this month once we get ourselves organized. Not only will this sale help us get rid of a bunch of stuff, but the earnings can help us with all the moving costs! Which is good because I have a lot of shoes to get rid of! ;)

My budget has changed a little, too. There have been lots of changes lately at work and I’ve been doing a lot of work on the finance side of the company. After thinking a lot about what I want to do for the rest of my career, I realized that finance is definitely more my style. I majored in accounting, but I have no real desire to continue along that path.

With that being said, the money I’ve been saving towards the CPA exams/reviews are now being allocated to my car fund! I hope to buy a car by the end of this year, so the extra money will definitely help me attain a bigger down payment. Bigger down payment = smaller monthly payment. Yay for that! :)

As far as these loans go, it was definitely exciting to throw $550 at them this past month instead of the minimum $200. It definitely made a dent; but at the same time, I still have about 94% of my original loan balances to pay off 🙁  Even though I’m accelerating the process, it’s still moving pretty slowly. Financial freedom doesn’t happen overnight! So I’m trying my hardest not to be discouraged and to keep on keepin’ on.

That’s all for now, folks. Have a wonderful Independence day!!!


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