I’ve been waiting to write this blog post for days. In fact, I’ve been waiting for weeks. It’s this magical time of the month again when I get to make yet another payment towards my debt! Seriously, I cannot wait to get paid at the end of each month, but these days it’s for one reason alone – to keep paying off my debt so that one day in the not-so-distant future my debt is gone fo-re-ver. I really enjoy making these monthly payments and seeing my overall debt figure drop. I don’t feel sad that I can’t keep this money instead or that my debt is still massive, I get proud and happy and even more determined to part ways with debt for good, and I can only hope this will not change.
I have set another £361.65 aside for my flight to South America next year, and today I have booked and paid for my flight! The total cost was £721.65 for a return flight (the amount I saved in 2 months) to three different countries. I will soon share the details in a separate post. I have previously mentioned two countries I will be visiting, but can you guess the third one? 😛
I have been living an extremely frugal lifestyle for the past 3 months and during this time I have been denying myself any sort of entertainment, apart from free one. On second thought, let me re phrase this. I have not really felt like going out, eating out, buying clothes or anything else. All I felt like doing was travelling. So… I am taking a short four-day-trip to Ljubljana (Slovenia) and Zagreb (Croatia) in two months’ time. I have booked my flights this morning and paid £56.15 for them. Bargain!
And finally, my debt numbers –
End of July Figure -£3,713
End of August Figure -£3,508
End of July Figure -£9,088
End of August Figure -£8,987
End of July Figure -£12,801
End of August Figure –£12,495
Technically, I have put £483.00 towards by debt this month but some of it has been taken by my bank in interest. Yes, I could have put £900 towards my debt this month had I not paid for my flights, but… I made a conscious decision to travel while paying off debt, and really there are no regrets whatsoever. Now that my flights are paid for (all in cash!), I can concentrate on throwing all my money towards debt, so I’m already looking forward to my next salary 😛
My overall debt has gone down from £13831 (end of May) to £12,495 (end of August), which means that in the course of 3 months I have repaid £1,336 in principal debt! I might treat myself to Kit Kat tomorrow to celebrate! 😛
I have also put just under £50 into my savings account this month. I am not saving big and I will not be building a massive emergency fund. I think I will be happy with £500 which I will hopefully reach in the next 4-6 months.
How are you doing with your debt/savings goals this month? I hope you’re pleased with your progress! 😛