Debt reduction in August was on track, nothing remarkable. It was a month of just holding on for dear life, so I’m content with any amount of progress.
Parent PLUS debt down: $809.47
Mortgage lowered: $819.64
Overall debt reduction: $1,629.11
The highlight of the month is that Parent PLUS loan #4 has finally dropped into the $16k’s!
The mountain is feeling insurmountable again. I look at the numbers and a wave of panic washes over me that I will never reach my goals to be debt free. I’m not understanding why my mindset has changed so much lately. My motivation to work as much as possible is gone. I feel like my plans have gone stagnant and I’m slipping into an abyss of hopelessness.
Logically, I KNOW THIS IS NOT TRUE.
I have a plan mapped out.
I’m following the plan.
I have mechanisms in place to jump start my progress.
I’m working on a refinance of my mortgage which will free up my monthly cash flow a bit.
Another change I have avoided making that I really need to is to establish sinking funds for auto and home repairs. I have always had sort of a large emergency fund that I use for these items, however it’s been depleted a great deal this summer, and I feel like I need to earmark what’s left of it for these items and begin adding to it as part of my sinking fund every month.
This budgeting thing is hard.
I’m taking a step back from my part-time job to enjoy life a little more and recharge for the busy holiday retail season. Or maybe I’ll find a new part-time job that I actually like.
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