Let’s get straight to it: February was an awesome month financially. Because of an unexpected $3,500 bonus from work, I finally paid off my credit card and put $2,000 toward one of my high-interest student loans. As a result, my debt-free date moved up by a few months (now January 2019), and my credit score jumped by 23 points to 661! I even had enough money leftover to jumpstart my freelance writing career by paying for Cat Alford’s course on pro-writing!
I’ll write about all of these in more detail later, but for now – let’s just look at the numbers:
|Debt||Last Month||This Month||Change|
|Student Loan A||$6,952.79||$6,897.09||-$55.70|
|Student Loan B||$4,015.38||$3,940.65||-$74.73|
|Student Loan C||$11,818.22||$11,723.96||-$94.26|
|Student Loan D||$7,083.84||$5,029.51||-$2,054.33|
|Student Loan E||$3,394.09||$3,323.50||-$70.59|
That’s right, folks! In one month, I paid off over $3,400 of debt. This is by far the highest gain I’ve had since starting my debt repayment journey, and – I gotta tell ya – it feels pretty damn awesome.
Okay, now let’s take a look at my savings:
|Assets||Last Month||This Month||Change|
Needless to say, I’m less proud of my savings progress. As I said in yesterday’s post, spending has become a bit of a problem for me lately. Not only did I not hit my target savings goal ($834), but I also dipped into last month’s savings – for no reason! It’s already done, and there’s no use in crying over spilled milk, but – moving forward – I’ll need to get more serious about keeping my spending under control.
Now, let’s take a look at my overall net worth:
Last Month’s Net Worth: -$32,434.63
This Month’s Net Worth: -$29,004.20
Change: ↑ $3,430.43
Look at that big ass f*cking chunk!, Regardless of my less-than-stellar savings progress, I can’t deny that February was a great month, thanks to my work bonus. In the future, I hope to report greater progress with my savings and – with a new career in freelance writing – more gains in debt reduction.
Wish me luck!