Some of the links in this post may be affiliate links. If you click a link and purchase an item I receive a small commission at no extra cost to you. All opinions are my opinion. Read the full disclosure here.
Welcome to Debt Over It!! My new blog dedicated solely to finance!
I have been documenting my debt free journey for a couple of years now on Living like Leila. I figured the easiest thing for me to do is leave the monthly updates I have done thus far over there and I will start from October 2020 on this blog.
Anyway, October was a great month overall despite it flying by.
Let’s get into some updates:
I started the month of October with $44,766.54 of debt and ended with $43,732.03.
Which means I paid off $1,034.51!! I paid $23.04 in interest.
Since my student loans are in forbearance, all this money went to my car loan.
Some main things to point out about my spending in October:
Groceries/Food out: I stayed under budget ($325) for my personal grocery shops, however, the ‘Travel’ listed here does include some food.
Oil change: I was told that my oil change would cost about $30, but they din’t tell me that was for conventional. I got synthetic so it cost more than expected. No worries though because I pulled the money from my car maintenance sinking fund.
Travel: My boyfriend and I travelled to Colorado for a weekend but there were quite a few mishaps.
First, the condo we were supposed to stay at was right next to the fires, so we had to book a condo in a different city an hour before check-in (this cost extra).
Then, due to the snow our flight was cancelled so we had to extend everything a day (obviously this cost extra as well).
We split everything 50/50 so this extra cost includes our room, Uber rides, food, and gas.
I made a nice amount of side income which I’m always grateful for. I use this money to invest back into my business and to pay off debt!
Full-time job (microbiologist): $4,937
Mediavine (display ads on LivinglikeLeila): $141.86
Google AdSense (ad revenue from YouTube): $122.43
Teachable (my courses): $86.81
Amazon affiliate: $15.15
Amazon GiftCards (from my apartment and Verizon): $77.54
Bank of America Cash back: $20.27
Pre-tax total = $5,501.06
As of October 31st, 2020 my net worth came to -$29,454.05.
Roth IRA = $4,090.08
- Taxes = $907.57
- Emergency Savings = $3,417.40
- Gifts = $625.40
- Medical/Dental = $101.15
- Car maintenance = $185.27
- Travel = $20.95
- Personal spending = $0
- FinCon = $0
My VantageScore according to Credit Karma is 765.
I’ve been maintaining a 0% utilization rate and just taking advantage of cash back/points!!
I hit a new milestone by getting under $44,000 of debt!
I love making progress and I’m so close to paying off 50% of my total starting debt.
I felt some money anxiety in October
Due to the extra expenses from travel and just feeling so far away from debt free, I got into my head quite a bit. Sometimes it’s difficult to see the light at the end of the tunnel and it feels like each debt payment is so far away.
I was interviewed about my debt free journey thus far!
Money Goals for November
- Pay off $1,400+ of my car loan
- Spend less than $325 on food/groceries
- Get my new blog/business (Debt Over It) all set for 2021