September 2020 No Spend

September 1st

  • Total Cash: $9,288.12
  • Liquid Investments: $3,000.39 (3 Month CD – Matures 9/30)
  • Savings Goal: $15,000.00
  • Money Left to Save: $2,711.49
  • Current Car Debt: $12,058.32
  • Current Student Loan Debt: $46,010.21

Last month I planned to pay an extra $750 on my student loans starting this month. Well, I paid extra on debt but I put it towards my car. I paid $3,000 mid-month on my car with the plan to pay an extra $1,000 per month towards my car. Once my car is paid off in April 2021, all of that money I was putting towards my car will go towards my student loans. Seems go to against all other guidance by paying off the higher interest rate loan first but I really needed a quicker win. Surprisingly I will save an extra $700 in interest doing it this way.

My emergency fund moved from a traditional savings account to a high yield savings account so that I could earn 0.90% interest rather than a whole $0.73 for 2020. Why not earn more money on an emergency fund? I like the high yield savings account because I’m earning more money, I have immediate access in the event I have an emergency, and it’s FDIC insured. Feels like a good safe option for me. I’m not willing to risk my emergency fund in the market.

I had less unexpected purchases this month than last month. Here is what I spent money on besides the typical groceries and gas.

  • Sports bras: For some reason my old ones felt like they were ripping a rib bone out of it’s joint. I think I waiting too long to replace them because it took about two weeks for the pain to reduce and I’m still in some slight pain. I replaced them $280.
  • Local Library Book Sale: I spend $1 on a book and donated another $5 towards a basket raffle. I made the decision to support my local library because they are there to support my reading binges.
  • Yoga: I spent $25 to attend two in person yoga classes. I’m finding that with the shorter days and working from home that I really need to see humans. Especially when Mr. BMM works afternoon/evening shift.

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pink pig figurine on white surface

Decrease in cash: $1,713.07*

Decrease in debt: $3,516.43

September 30th

  • Total Cash: $7,575.41
  • Liquid Investments: $3,000.03 (3 Month CD – Matures 9/30)
  • Savings Goal: $5,000
  • Money Left to Save: $0
  • Current Car Debt: $8,738.45
  • Current Student Loan Debt: $45,813.65

In October, I will be moving the liquid investments from the CD directly to my Roth IRA. Leaving me $1,000 short of the annual max. I will make that payment in October from my money market account.

I don’t see any other financial goals or dreams for October other than don’t spend money, save money, and pay off debt. I think I’m just going to let October ride the wave. I am going to be doing a 31 day declutter challenge where I let go of 31 things or feelings or old narratives. Want to join me?

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