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October 2017 Debt Repayment

October 27, 2017
AUTHOR: Emilie
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Welcome to October’s debt repayment update where I show you the progress I made on paying off my debt over the last month. If you’re new to Burke Does, you may be wondering why I would want to share these very real and personal numbers on the blog. You can simply skip to the next section if you’re not new here.

This all started soon after college when I tried to build my first budget and had no idea how to do that. While it took me a while, I did successfully start budgeting and get a grasp on my debt. In January 2016, I shared my financial status. At the end of the year, I shared my Financial Year In Review. I try to be as transparent as possible in my successes and my failures. Just real, no fluff or BS here.

October 2017
September October Change Percent Change
Car Loan (USAA) 13796.28 13545.29 250.99 1.82%
ECSI 7506.22 7336.66 169.56 2.25%
Combined Debt 21302.28 20881.95  420.33 1.97%
Retirement
Traditional IRA 1641.09 1674.65 +33.56 2.56%
Roth IRA 8572.70 8740.82 +168.12 2.45%
Combined Retirement  10213.79 10415.47 +201.68 1.97%
Not-an-accurate-net-worth  -11088.49 -10466.48  +622.01 5.60%
Car Value 13966 13999 +33 0.24%
Still-not-an-accurate-net-worth  2877.51 3532.51 655.01 22.76%
Photo by Sean JOHNSTON from Pexels

Debt

Just regular progress going on here without any snowballing because I am focused on building a fund for the wedding.

I will say, this is a great reminder about how terrible interest is.

Look at this:

Payment Amount Change in Amount Due Amount Eaten By Interest
288 250.99 37.01
200 169.56 30.44

Interest is a bitch and I’m over it. Also, I’m so close to being below 20K. I’ll definitely push for that next month.

Retirement

You know, the market just doing its thing. $200 growth here is nice, especially considering I didn’t do anything at all! I love it.

Not-My-Net-Worth

TWENTY PERCENT GROWTH! HOLY BANANAS BATMAN!

It doesn’t seem like much when you think about $600 change, but between debt progress and investment growth, my (inaccurate) net worth grew 20% (655/2877 aka change/original value). This is such a big change and it makes me feel so good!!!!

Looking Forward

Well the craziness of September and October, I’m looking forward to a quiet November where I can finally spend the weekends sitting on my couch not doing anything. I have a trip to a surprise birthday party one weekend of the month to an unnamed location but that’s a fly-out-on-Saturday, fly-home-on-Sunday thing and the tickets are already paid for. We expect some company for Thanksgiving, but nothing that should eat into the budget. Overall, it should be a good month!

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Emilie is a data engineer by day and lifestyle blogger by night. A Jersey girl at heart, she is currently living in her fifth home in three years, Savannah, GA with her college sweetheart. She’s learned the hard way that home is wherever the Army sends them. She enjoys eating food, cuddling with her dog, and binge watching HGTV.