Yes, I know it is Thursday and yes I know I have been neglecting the blog for a few weeks. I have been finishing up my first MBA class and have finally had some time to sit down and write again.

July was a three paycheck month. That means on the last paycheck of the month they do not take out my insurance payments. While my insurance payments are not substantial it still amounts for an extra $250 in my paycheck.

Since a majority of the money goes to pay the rent I did not have much to put back into savings. I am also still paying down debt, although all of the debt at this point is zero or low interest.

I was able to put $800 towards my furniture account. I only have one payment left on that one which will be paid off at the end of next week.

I also put the extra $250 towards my car payment. This allowed me to pay down a bit more in principal. I plan on doing that over the next few months to get it back to where what I owe is what it is worth. There are reasons why you do not want to buy a brand new car, but I will get into those in a different post.

Once I am done paying down the furniture I will begin to tackle my balance transfer card. It is zero percent and will be until April of 2021 but I plan to have that paid off by November. I also was offered a 10 percent discount on the medical bill I had if paid in full. While 10 percent is not a huge amount it came out to $48.60 so not bad.

My current debt:

Installment Loan: $826.21 0%
Credit Card: $10,039 0%
Automobile: $23,522 1.9% – I think the number I used for last month was wrong.

While my net worth decreased slightly from last month since I had to pay taxes my total net worth increased a bit with the debt payoff and the increase in contributions.

Currently, I have a net worth of $45,122. I have approximately $69,893 in my retirement accounts and $9,672 in my savings. I also have an additional amount in my pension from both Utah and my current position which increases my retirement net worth, although I have not done the calculation for that yet.

If congress does pass the additional stimulus check, that money will replace what was lost in taxes since I already have a plan to pay down the rest of the debt and would rather earn back that interest.

While it is a long slow process, I have been able to pay down substantial debt in the past few months. The pandemic has allowed me to refocus my life on what is really important and being out of debt and having enough to retire comfortably is my ultimate goal now.