My money stank this month. Lucky for me, this was literally, not figuratively.
Last week, I filled a little Pyrex dish with cubed watermelon and stuck it in my purse for a cheap, healthy snack. I didn’t eat it. I didn’t take it out of my purse. I forgot about it for a couple of days. Until the day I reached my hand in my purse and it came out wet and rotten smelling. My checkbook, my receipts, my coupons, my cash envelopes…everything was rank! (As a side note, if you have any suggestions on how to de-stank-ify the fabric inside my purse, I’d be much obliged.)
As often happens, it got harder to keep the envelope system working as the month went on. Trips to Target always do this. I bought a shirt, a gift, some dishwasher detergent, and some school supplies. These all come from different envelopes, so I put it on the card and decided to figure it out later. Luckily, I’ve been a very conservative spender this month, so it didn’t put us in any danger, but I realize that this is not how the envelope system is supposed to work.
The most exciting thing for me this month was the money we made from selling our stuff–$157! The best part is that I didn’t have to sell anything I was that attached to. We sold jewelry we didn’t like, clothes that didn’t fit, a DVD we didn’t want, a PDA we didn’t use. The most painful thing for me was my scrapbooking supplies–partly because of all the money I needlessly spent on them in the first place. I have been telling myself for years that I’d scrapbook all the photos I’ve taken. Instead, I’ve moved my scrapbooking supplies from my parents’ house to Hawkeye Court to the duplex to our current house. Now they’re gone, and I have more space and more money.
This month, we paid of 1.5% of our debt and have 83.5% of our debt remaining. Putting that way makes it seems like we’ve paid a little and owe a lot. However, I can also say that in 6 months, we’ve paid off 16.5% of our debt! That’s an average of 2.75%/month. Now, we won’t get a huge tax credit every March, but let’s just say that with a little ingenuity, scrimping, and divine power we continue to pay off our loans at this rate. Then, we’d drop below 50% in September 2011 and we’d be debt free except for our mortgage in March 2013–one year ahead of schedule! I know we can’t set our hearts on this, but it’s nice to do the math on these things so we stay encouraged on the way.
In June, I said I expected to be at 82% by the end of summer and that I hoped that by some miracle we’d drop under 80%. What I didn’t specify to you was when exactly summer ends. In a sense, summer ends on Sunday–my last day of summer break. What I really had in mind, though, was the end of my summer pay schedule. My first paycheck of the fall will come on September 15, so we have one more month to go. Till then, we’ll be getting by on money set aside from my big, beginning-of-summer payment, Dexter’s regular paychecks, and any extra money I might have earned this summer that doesn’t come in until after August 15. I’m not sure what that will amount to, but I hope it’s at least 1.5% of our debt!