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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.

I’m so excited to have created this blog and my Twitter account! I’m also very grateful I decided to start a personal finance YouTube channel because it has been so fun and a great decision.

Anyway, October was a great month overall despite it flying by.

Let’s get into some updates:

Debt

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.

My car loan balance
My student loan balance

Spending

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.

Income

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
Gift: $100

Pre-tax total = $5,501.06

Net Worth

As of October 31st, 2020 my net worth came to -$29,454.05.

Roth IRA = $4,090.08

Sinking Funds:

  • 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

Credit Score

My VantageScore according to Credit Karma is 765.

I’ve been maintaining a 0% utilization rate and just taking advantage of cash back/points!!

Overall Updates

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!

Brad from Zero Debt Coach interviewed me about my debt free journey. Be sure to check out the blog post and the video!!

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