Shaney’s Personal Debt Reduction Journey Review for May

I’ve final stopped recalculating my budget and unfortunately, I will not be able to pay off my debts by the end of the year. 

If I stick to the budget I will be debt free by the end of next year.  Boooooooo!  I know.  I was doing so well, paid off the overdraft, paid off for one of my credit cards and paid HMRC for monies owed so yeah. I feel really happy with my performance.  Of the six unsecured debts I have managed to pay off three debts.  I am half way there.  The problem is that according to my budget I would have to wait until October of next year to pay off the other three loans.

For April I came in on budget, but I ran out of money by the third week, AND I have not dipped into my savings.  The reason why I was broke by the third week is because I went on a spending spree on the garden.  And judging by what I want to do I will need to find the extra money to continue with my projects.

Goals

Health:

  • I lost inches but not weight and that is due to working in the garden.  I am not too concerned about my weight or my eating habits I know that over the coming months it will change, so haven’t monitored my weight. My overarching goal is to move alot more and that means spending alot of time in my tiny back garden.
  • The teeth whitening was such a disappointment I blew £1k to whiten my teeth only for them to stay yellow.  😫 I don’t mind spending money on myself as long as I see the results.  I already spent £2k on my fixing my teeth and £1k on cosmetic dentistry. I am very happy with fixing of my teeth, but that additional £1k on cosmetic could have paid off my debt. I am sooo disappointed.
  •  My teeth is sorted I would need to go back for a check up. I need to check out my eyes and my hearing, so need to book an appointment at Specsavers.

Financial:

  • Stick to the budget.  And that is it. I need to stick to the budget for the coming months if I want to pay off my debts by end of next year.
  • For this month I needed to generate extra income of £600 net. I did overtime but not sure whether I’ve accomplished this. If I am short, I have to make up for it somehow or reforecast the budget.  It could mean that I might not have any beauty treatments whatsoever. 😡
  • I need to generate an extra £800net by next month, again I did some overtime, but will need to do more to hit my target for next month.
  • I need to work on overtime at work and selling some of the sunflower plants that I have.  I have way too much in abundance.  The goal is to generate £500 overtime at work and £500 selling sunflowers for next month.

Passive Income:

  • Any previous ideas has been parked.  The roses that I have planted has seriously suffered the dirt was absolutely rubbish, it was dry and dusty and most importantly it had no life.  I am use to seeing beneficial insects in my soil – there was nothing in that soil. I need to dig them up before they die.  I am not going to have any roses to sell this year.
  • All is not lost as what I lack in roses I have sooo  much sunflowers growing that I need to find repot and find homes for them all.
  • At least I am keeping up with the website albeit very slowly, but it will get there. I am not expecting any money to generate at this money as I have not done sufficient work to attract the traffic.

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