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Our Debt Free Journey Week 2

Joshua Hurtado has been driving for Uber Eats since August 2018. Joshua has also graduated with an Associates Degree in Paralegal Studie

Scripture of the Week

Scripture of the Week

Scripture of the Week

Our scripture for this week is Proverbs 13:18

"A man devoid of understanding shakes hands in a pledge,

And becomes surety for his friend."


It's All About Behavior

Have you ever wondered where all your money goes? I know that I have. Since Miranda and I have started budgeting we have really been able to see where our money has been going. For us, it has been eating out but, it will be different from person to person. Sure people like to complain that rent is too high or about how people don't make enough money.

Sure, my rent may actually be too high. Sure, I may not actually make enough money. But here is the good news, I can do something about it! My wife and I are actually moving somewhere where the rent is cheaper. I can choose to make more money, and that is what I have chosen to do! No one ever told me that it would be easy, but it is rewarding to see the extra money we are paying on debt at the end of each week.

There is one word that is particularly key and that word is "no". The behavior change is about having our priorities straight. What is more important, spending another $20 on a book that I really want or is it more important to pay the $20 on our debt? Sure, it is only $20 but, if we can put an extra $20 on our debt each week that is $960 a year extra being put on debt. That is an extra two months of car payments!

Goals Update

We have made some progress on our goals. We have started listing some of our things for sale on Facebook Marketplace. We don't have a lot of takers at the moment, but we are going to keep trying.

We did not meet the goal of being able to put about $50 extra towards our debt this past week. However, we were able to put $19.58 extra on our debt. It's not the amount we were looking for, but it is still something and we will take it. I would still like to put an extra $50 on debt this week. It looks like we will be receiving at least part of our stimulus soon and we plan to put the full amount of it onto the car.

Lifestyle

Miranda and I were talking and we have come into agreement on a lifestyle change. There are a lot of things we have that we really do not need. A lot of things we have are kind of cheap. Something that interests us is getting rid of our cheap things we do not need and saving up to purchase things we do need/want, but paying more for a nicer product that will last a long time and are good quality. But before we get to the place where we can purchase the nice things we first need to clean up our finances and get out of debt as well as sell the cheap stuff.

Another important lifestyle change is simply put, learning to say "no". Funny how it is one of the first words we learn, but we still have a hard time telling ourselves "no". There is a reason that grocery stores stock the checkout lane with product. People have a hard time telling themselves "no" and constantly give in to their impulses. I am the kind of person who would normally give in to my impulses. I would go to the store and see a cake and buy it, see pie and buy it, soda and buy it, so on and so forth. I had no self control with my money. But now that changes.

Updated Debt

Okay, so here the remaining amount of debt we owe:

Social Security: $1,400.00

Car: $22,105.22

Student Loans: Approx. $28,000.00

Less than a month ago we owed over $23,000.00 on our car so this is definitely progress! One other note is that since Miranda and I are going to be moving soon, these updates may be more spaced out than usual until we get settled. We will definitely keep moving forward in the meantime. Hopefully we will have at least a couple thousand dollars we can put on the car after we settle in.

This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.

© 2021 Joshua Hurtado

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