Ya’ll, I get excited every pay week to sit down and determine how I plan to spend my upcoming paycheck before it hits the bank. It is exciting to see how close I am getting to reaching my financial goals. I got the idea to share my paycheck breakdown from Pennies Not Perfection on Youtube. On her channel, she shares her financial journey of paying down student loans, the process of refinancing her house, and how she has chosen to invest. So I am going to take a page out her book and share my numbers (or percentages).Continue reading “How I Am Allocating My 2nd Paycheck of the Month for June”
Goal: To share my debt-free journey with hopes that it sparks honest conversations surrounding finances and financial freedom amongst twenty-somethings. I currently have
two credit card balances (paid off), a car loan (35% paid off), and student loan debt that I want to payoff by my 25th birthday which is roughly a year and a half away.
This month, I changed my budget up a little bit. Normally, I allocate a specific amount of money towards my car’s principal balance in order to have my car paid off by August. Well, I was blessed enough to reach my May money goal in April thanks to the stimulus check.Continue reading “On The Road To Being Debt Free By 25 Years Old: May 2020 monthly budget”
Goal: To share how my spending for the month of April compares to the budget I set for myself at the beginning of the month. I believe this information is valuable to share because of it provides insight into the obstacles I face during my debt-free journey and strategies I am putting into place to stay on track.
Since the pandemic has arisen I have definitely seen a change in not only my daily activities but my finances as well. When creating my April budget, I decided not to include discretionary spending in my budget. With the shelter in place order, I assumed I would spend less money on clothes and eating out so those funds could be redirected to reaching some of my debt repayment goals.Continue reading “On The Road To Being Debt Free By 25 Years Old: April 2020 Monthly Budget Update”
I have decided to start a finance series to document my debt-free journey. I was inspired to start this series because we do not talk about finances enough. It is such a taboo topic but it shouldn’t be. Money is an important resource that allows us wonderful opportunities. Having honest conversations surrounding finances can help us to make smarter decisions and build wealth. As part of this financial series, I have decided to share my monthly budget and an update of how spending compares to that initial budget.Continue reading “On The Road To Being Debt-Free By 25 years old: April 2020 Monthly Budget”