Thursday, June 30, 2011

June Month End Report, Part 2

I have so much to say about this month end report, I decided to do it in a separate post.

First....d'you see the difference in our debt from last month?? Almost $8,000!! Now, this is not going to be a monthly occurrence, or anything like that. But it was a good month! I like to think of it as my blizzard month, instead of just a few snowflakes, lol.

Can I get a cheer please? We paid off three, count 'em, three, debts since last report, and one small claims court settlement. All to the tune of about $9,000.00. Holy smokes! I can tell you that certainly has eased the pressure off our cash flow and allowed us to juggle some payments so that we can get our snowball effect started.

$18,994.22 vs. $16,124.93
This month end report also marks an important milestone for us with our finances. As of this month, we have more money in assets (various savings and planned spending accounts) than we have debt. Technically, we could use all of our available money and pay this debt off once and for all.  Of course that would leave us in a very precarious position, because we would have nothing to fall back on to pay for the upcoming bills that will be due in a few months time. We could probably do it, but I'm just not comfortable with it. So for now, it's enough just to know that we could do it.

On my Financial Goals Page, we have made progress on nearly every single line. All that is left to start working on are the 'wish list' type items. A buffer in the bank account and vacations. Items that we will start working on once we have made significant progress on the Emergency Fund and the EEE Account. Our Debts Paid In Full page has been filling up which makes us very happy!

And how are we going to celebrate our successes from this past month? We're going to a house party for Canada Day and buying a barbecue. Grocery shopping is going to be fun this month!

As always, your comments are appreciated.

9 comments:

  1. Wow! Good work! You're doing wonderfully!! :)

    ReplyDelete
  2. Yowzers!!! CONGRATULATIONS!!! That is great work!!!

    So happy for you! You are doing amazing! I can't believe almost $8000 in one month! I think blizzarding over snowflaking is certainly correct!

    Hip Hip Horay!

    ReplyDelete
  3. I had to read your post TWICE to let it sink in!! That is incredible!! It is so awesome when the hard work REALLY pays off! Thanks for letting us share in your excitement and CONGRATULATIONS!!!!

    Sarah

    ReplyDelete
  4. Wow, this is what you've been waiting for! I'm really proud of you for "doing the right thing" with that $8000. Some people might have gone on a spending spree, but not you guys - your self discipline is exemplary!
    Congrat's!!!

    ReplyDelete
  5. New reader....Congrats! Can't wait to catch up on your previous posts.

    ReplyDelete
  6. WOOHOO!!!
    You go folks you are getting there - cant wait until you come to our $$ mtg and proclaim, "We are debt free!"

    Great job!
    Sarah

    ReplyDelete
  7. Holey, Moley, you're doing great! Congrats...

    ReplyDelete
  8. Well done!!! You guys are doing so well!!! I agree with you its better to have the cash on hand for the just incase, that way you don't drop back into the debt trap you are working so hard to get out.

    ReplyDelete
  9. Congrats! That's great news.

    ReplyDelete