It’s been so long since my last post, it took 10 minutes to remember how to get back into my own blog. Speaking of slow but eventual progress, we’ve almost reached the half-way point to paying off our student loan/credit card debt. With the student loans paid off, and a couple of “small” (no such thing) credit card debts gone, we’re chipping away at the final credit card. So, after about nine months of budget lockdown and debt repayment, we went from $17,000 in debt to $9,000.
All of this budget lockdown talk in our personal life has spilled into our business life. Julep has, essentially, been on a business budget lockdown this farm season, and that, combined with a few other good decisions, has us on track to comfortably meet our tax, payroll, and loan obligations, without having to dip into any personal money. Just to be sure, however, we’re setting aside an emergency fund for the business, then, when everything is all taken care of, we’ll slam that fund toward our personal credit card.
My continued takeaway from the budget lockdown is this: it’s only improved our life, not made it harder. This summer, we’ve still had plenty of fun. Yes, we chose to skip a family trip this year, but we have no regrets. A weekend of fun isn’t worth years of credit card burden. Someday, we’ll budget for a family vacation, but that’s not where we’re at right now.
Instead of limiting us, sticking to a budget is freeing. There are a few summer attractions we like to hit in our region each year, and, in the past, we’ve had to cobble together money to go. This year, we factored in those events, and budgeted for them. This made for a relaxing experience, and no overspending.