Monday 164: April Recap

Monday, 9 May 2016

April was a very expensive month.  Property taxes, income taxes, annual auto club fees, earthquake insurance, and medical bills all worked against us.  The need to buy a car pulled money out of savings in March, and we are still feeling that loss.  As well, a shift in our priorities for payments toward debt will be affecting the $2000.00 / month savings goal set up earlier in the year.

To meet these expenses, and pay on the credit card debt, savings plummeted because we paid $700.00 toward CC#3.  May will replenish the savings, as will each month hence.  Hopefully by the end of 2016 we will see a more solid savings account alongside a strong decrease in debt.  (Sort of like predicting futures!)

April 2016 Expenditures

The new car purchase has not helped our debt situation, but it has pushed us to realize we needed to shift our priorities to a faster debt reduction.  We are both tired of those credit card interest rates!!  In fact, CC#2 decided to up our interest rate by .25 because of the car purchase.  They must monitor our credit daily.  Those rat bastards!

April 2016 Debt Reduction

While we have acquired new debt, it was debt of necessity.  (You may argue, but we will disagree!)  The Amazon spending decreased significantly.

The Bad
We have added debt in the form of a car. We could not add much cash to the monthly savings account – in fact, to meet the payment we chose for CC#3, we had to pull from savings.

The Good
We have significantly reduced our spending in many areas. Food costs were lower than the previous two months, with only $316.60 spent on food. The Amazon seductions decreased, and only the regular monthly charges for Netflix and Audible were incurred, plus a quarterly dietary supplement. We paid $700.00 toward CC#3. And, we still have the emergency fund ($1000.00) fully funded.

Conclusion
Thank goodness April is over! What an expensive month it has been. Looking ahead, I see our situation improving, even though we are throwing a Graduation Party for The Student (not everyday does one get an MS!). Our attitudes are changing, and we are beginning to more easily embrace the strictures which come with the determination to become debt free. It will be interesting to do a year-end recap to see where we began and where we finished.

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