We have made some progress towards our financial goals this month! Here is the update for the month of February:
1. Save 3 months living expenses by December 31. We added $80 to the emergency fund this month (not much but something)!!
2. Pay $3,000 towards our “small loan”. As of February we have paid off over $2,750!!
3. Make an extra principal payment every month. Since the beginning of the year we have decided to take the Dave Ramsey approach and attack the smallest debt first. With focusing solely on our “small loan” we hope to have it entirely paid off this year and will then focus on principal payments!
4. Keep all Miscellaneous spending (Medicine, Toiletries, Clothing, Gifts, everything but food) under $100 a month. We have spent under $60 on miscellaneous!
5. Sell $500 worth of stuff from around our home by July 31. We sold a guitar, amp & 2 books this month giving us an extra $110 for debt!!
We hope to stay focused on reaching these goals and hopefully the update for March will be just as good!