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| Our cash envelope system. |
I haven't posted an update of our debt reduction in a while. I used to do monthly debt totals on my Instagram account, but found I wanted to focus a bit more on my everyday like my simple living, craft projects, cooking and the fun stuff!
In January this year, our mortgage was $75 537. Currently at just over 7 months later, it is at
$55 000. It isn't easy at times- we are only human and habit of consumerism can be a hard one to break- but now I can see the total going down and have my eye on the prize!
To anyone who is working towards paying off their debt, it can be done! Set a goal and aim high.
For us we have cut out any unnecessary spending and any extra money made or what is not spent on essential items goes towards reducing the mortgage. That means sticking to a pretty tight budget, buying only basic foods in the grocery shopping and I make all meals and cleaning products from scratch. We have a vegetable garden and fruit trees, buy most items secondhand and give homemade gifts. Even doing one of these things can save hundreds of dollars a year!
Here are our debt totals for the last 7 months:
January
4/1/16- $75
537
31/1/16- $73
166
Total of $2371 PAID
February
1/2/16- $72
976
29/2/16- $68
322
Total of $ 4654 PAID
March
1/3/16- $68
132
31/3/16- $66
215
Total of $1917 PAID
April
4/4/16- $66
025
30/4/16- $63
718
Total of $2307 PAID!
11th May 2015- $93 381
19th May 2016- $62 469
$30 912 paid in 12 months!
May
2/05/16- $63 529
30/05/16- $60 713
Total of $2816 Paid
June
6/6/16- $60
523
27/6/16- $58
754
Total of $1769 Paid
July
4/7/16- $58
564
31/7/16- $56 143
Total of $2421 Paid
Great job!!
ReplyDeleteHi Theresa,
DeleteThank you so much!
xx
Mel, you and your family are doing an amazing job. It takes a lot of courage to lay your life out in the open for all to see, but is so valuable and offers much encouragement to your readers.
ReplyDeleteThank you.
Janine
Dear Janine,
DeleteThank you so much. I hope folks realise it is indeed possible! xx
Wow. That's amazing. I read your blog but don't think I've ever commented. I live in Reno,NV.
ReplyDeleteYou and your family should be proud of how much you have accomplished. This is so encouraging to all of us. Your hard work is paying off!
Dear Crystal,
DeleteThanks for commenting here! Thanks for your positive encouragement. It means so much. xx
Fantastic Mel! You are slaughtering it.....and setting a great example for all your readers.
ReplyDeleteDear Mr HM,
DeleteThank you! We have done better than I thought!
Wow! This is just amazing, you won't regret it.
ReplyDeleteDear Rhonda,
ReplyDeleteThank you! It will be amazing to be debt free, hopefully before I turn 40 :) xx
Hi Mel,
ReplyDeleteI love your blog. I don't know if I've ever commented or not, but I found you through Annabel's blog quite some time ago. Your efforts are really amazing! Just look at how far your debt has come down. Truly, you are to be commended! I love your attitude, effort, and everything you share. I, too, am on a debt-reduction journey. We have a long way to go, but I believe it is totally worth the effort. I love your gifts and DIY, too.
xxx Colette (USA)