Our Financial Peace Journey: October 2016

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If you are new around these parts, the Mister and I took the Dave Ramsey Financial Peace University course through our church last year. We have a goal to pay off half of our consumer debt this year. You can catch up on our journey by checking out our previous recaps:

October Budget

October has been a bit of an interesting month. As I shared in our September update, last month the Mister was unexpectedly let go from his full-time job. Fortunately, God is faithful, and through some connections, new employment was found within a week.

But the change did throw a kink in our budget simply because we had to adjust to a new payroll schedule, and he actually only received one full paycheck in October. Luckily, we had plenty of extra income to offset that since the Mister picked up about 4 extra shifts at his part-time job and finished up a painting gig that he had been working on the weekends.

Also, some big sales that I had been working through my job finally paid out in commissions, so I took an extra paycheck home to offset the adjustment.

October Victories & Blessings

This was a big extra income month for us. Like I said before, God is faithful, and we had several victories to celebrate:

  • We sold my Prius! This is bittersweet since I loved that car, but I’ll never have a car payment again. That loan is out of our lives.
  • I was awarded the scholarship to cover my black belt exam fee. There were still several other expenses that come with testing, but every little bit helps. The extra income from selling the car covered almost all our clinic fees.
  • In addition to kicking the car payment our of lives, we also paid nearly half the balance of the credit card that we’re working on in our debt snowball. It was good see that balance drop so dramatically.

In fact, between the car sale and the extra income, we paid an knocked nearly $10,000 of our debt snowball last month. MAJOR WIN.

If you want to take control of your finances, I’d suggest reading The Total Money Makeover. Or go online to daveramsey.com to find a Financial Peace University course starting near you.

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