Wednesday, January 15, 2020

Debt Mountain Update Month 2

Still 17.6% less debt than 2 months ago, but
it doesn't quite feel like a 'win'... 
As you can imagine, this last month was a busy one. I've written several partial posts, but nothing I ended up publishing.

Between Christmas, a graduation, birthdays for 3 of the kids, two mid-week holidays followed by my entire crew calling in the following week for illness or car trouble... this was a rough month for me financially. I stuck to a pretty tight budget for all the kids and family this year, but it was still rough. No big numbers or exclamation points today... just the knowledge that this month was a failure in terms of numbers.

Month 1: Debts owed down 19.64%
Month 2: Debts owed up 2.06%
(% of original amount of debt)

I have been able to take a close look at this last month and learn more about our spending and how we can do this better. Or at least how I would like to do this better.

Part of the problem is that I said I wanted to do this without making Mike suffer the consequences for my debt, but it turns out that if we aren't both working towards the same goal, we aren't going to be able to make any progress.

Marriage is hard and we don't see eye to eye on finances. While it was my bad choices that put me in debt, I'm now the one who cringes every time we spend a dollar that I know we don't need to spend.
Still, his lack mindset and my abundance mindset seem to clash constantly.
In in the interest of not fighting, I often pay for things I shouldn't and don't ask him to pay me back for things I should.

I've also spent way too much time taking care of the household instead of my businesses. It makes him happy to come home to a clean house and to have meals cooked a few nights a week and to be able to play his trumpet with whatever band calls him on any given night. I like making him happy, but I've got to work on the businesses more.

I knew this would be a process when I started it. I knew there would be ups and downs. If I get my taxes done this week, I'll make great progress again next month. I'm having a hard time seeing how it is all going to be possible... but that has happened before and God has come through. 

Because God knew I would need a little encouragement, I found a couple things when going through paperwork last weekend. One was a copy of the $46,000 surgery bill from the time Lauren's insurance lapsed and it took 5 months to restore. It's a long story but it was a huge miracle when they decided to make it retroactive to the date it was cancelled, covering her surgery in full.

Second was a letter from the Illinois IRS telling me that they needed more proof of my income before they would send me my 2016 refund of approximately $700. I never followed through on that when I filed and when I called this week they told me that it was still good. I just have to send in some papers.

I'm looking forward to a better report next month...
and hopefully several more blog posts between now and then. There is a lot going on around here besides the quest to be debt free and I look forward to sharing that with you too. 

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