My apologies for being generally absent from posting. Summer has been crazy for us, basically since we moved back to Missoula at the end of May. Weddings, family events, and a few more weddings. It’s an exciting time!
On our financial journey, Jos and I are finally picking up some good momentum. It was tough living on one salary for the last two years, but we are finally almost out of the woods with that stage. Jos got her first paycheck from her new job a week or two ago, and it has already made a big difference for us! It is simply amazing what a second income stream can do for the debt repayment process.
As I’ve shared before, we are keeping our exact same budget from our single-salary days and just chunking all of Jos’ earnings at the debt snowball. We’ve had some big travel expenses and have had some wedding and baby shower gifts to pick up here and there, but having the extra income makes all the difference in the world.
I think the biggest challenge at this stage in the debt repayment is not getting complacent about where we are at. I think it would be easy to loosen the reins and get a little lackadaisical about where our money is going. But we have other goals in mind, including a down payment for a house, and hopefully a newer car soon, so we are staying motivated in order to achieve those goals.
I logged into my student loan portal yesterday just for kicks, and it was incredibly refreshing and encouraging to look at all those zero-dollar balances. What a relief it was to shed my student loan debt! I can’t wait until we got Jos’ taken care of and then we both rejoice in the feeling that we don’t owe a dollar to anyone. That we will need to celebrate, big time!
Looking ahead, we may still be on track with our original, lofty goal of being debt-free one year after Jos got her first paycheck. It will be right around our anniversary, July 8th, next year. I think we can still get there if we are persistent and make good choices along the way. It’s encouraging to see how far we’ve come, and it gets me excited to think about what we will be able to accomplish once that weight is gone.
Are you onboard yet? Maybe you’ve read a post or two of mine and have thought that this debt-free journey isn’t for you. It’s just too much to take on. But let me tell you, you can, and you should! It is worth the time and effort it takes to make a plan and stick to it. Putting off a few nice things today can mean being in a much better place in a few years, maybe even a few months. If you are having a hard time knowing where to begin, I would be happy to help. Please feel free to reach out to me at firstname.lastname@example.org if you have questions or just want to chat about where you are in your journey, I would love to hear from you.
Cheers to you.