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Finances

July 2020 Debt and Spending Update

August 5, 2020August 5, 2020 Leila Leave a comment

Happy August!!

We’re officially more than half way through 2020 and at this point I’ve gotten used to working from home.

Still no details on when we can return to work, but I am so, so grateful for my job.

In July I actually started a role in the Covid-Response. I still get to work from home (it involves public inquiry email triage), but it’s definitely kept me way busier these days.

It’s a 30 day response and then I am getting extended another 30 days.

July looks a lot like the last few months because I am still saving all of my left over money at the end of the month.

To be honest, I’m quite eager for September 30th so I can drop a few grand on my student loan debt!

Let’s get into the updates:

DEBT PAYMENT/INCOME SPREADSHEET

CURRENT FICO SCORE: 764
CURRENT DEBT: $47,748.27
ROTH IRA VALUE: $3,756.19
NET WORTH: -$33,455.46

FINANCIAL UPDATES

I put $1,200 to my emergency savings

Wow! This is huge to me and I’m SO excited to start paying down debt with such large amounts.

My emergency savings now has over $3,700 in it.

While student loans are deferred I have been saving anything extra each month (in my high-yield savings). Once I have to pay them again I will put whatever amount I have over $3,000.

I want a larger emergency fund considering everything going on.

I am now under $48,000 of total debt

Slow progress is still progress!

I only paid off about $345 this month (my car payment), but it still counts!

I started tracking my net worth (included above)

I think I actually started last month but I now want to include this number in my reports. I have been using Personal Capital and I think it’s been so fun to watch this number!

My net worth does not include the value of my car by the way.

SPENDING

Taxes: ($900) I put this money into my High-Yield Savings account until I have to pay taxes.

Sinking Funds: ($400) My sinking funds include car maintenance, vacation, gifts, medical/dental, and my emergency fund.

Investing: ($100) I contributed to my Roth IRA (VTSAX with Vanguard)

Donate: ($50) Every month I donate at least $50. This month I gave $50 to my friend who’s apartment complex caught on fire.

Rent: ($1,346) My rent for a one bed, one bath apartment near Atlanta, GA.

Renter’s insurance: ($15.50) I am required to have renter’s insurance for my apartment.

Trash: ($35) Valet trash is mandatory at my apartment. Dumb, I know.

Wi-fi: ($55) I have Google Fiber.

Electricity: ($61.05) My electricity bill.

Water/Sewage: ($43.57) My water/sewage bill.

Food: ($278.38) This is all on groceries and food out.

Gas: ($18.75) I got gas once and haven’t been driving much.

Car: ($382.55) My minimum car payment.

Student Loan Debt: ($0) As I mentioned, student loan interest and payments are deferred right now. I decided not to put anything toward my student loans.

Insurance: ($147.15) This includes vision, dental, and life insurance. I have health insurance through work on top of my salary which is really nice.

Health: ($32.40) This includes my Ritual multivitamins.

Phone bill/car insurance/Dogs: ($230) My sister pays my phone bill so I pay her for that. I also pay for my dad and step mom’s phone bills because my dad pays for my car insurance…the costs basically equal out. I pay an extra $50 to help her out with our dogs. My dad and stepmom paid off their phones so I offered my dad the $50 difference each month but he said to save it, which I’m so grateful for.

Business: ($198.11) This includes paying for Tailwind and GSuite. This month I also had to renew my domain name ($15.95), upgrade my email subscription service ($131.18), and I also ran FB ads for my course ($30).

Spotify: ($9.99)

Gifts: ($39.00) I contributed $25 for a wedding gift for a co-worker and I bought a small gift for my boyfriend for our anniversary. I always pull from my gifts sinking fund!

Excluding my savings and debt I spent a total of $2,559.90.

As always, I upload videos every month with all this info on my Personal Finance YouTube channel!

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August 2020 Debt and Spending Update

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I've been vegan for 5 years as of yesterday. It's I've been vegan for 5 years as of yesterday.  It's still the best decision of my life.  I've gained the most strength and look my best as a vegan.  It's also worth mentioning I was vegetarian for 13 years before going vegan, which is why I had to bust out a double bi in photo 3 lol  So yes, I do get enough protein despite not eating animals 😏  As a vegan I've also learned to cook better, eat more types of foods, and have discovered amazing restaurants, recipes, and vegan alternatives all without harming animals.  I never want to push veganism on anyone, but I encourage everyone to explore this lifestyle.  Personally, having an animal suffer for my food, clothes, and products just isn't worth it. Being a perfect vegan isn't necessary, but even small changes can make a large difference.  My sister (@loka1089) made this shirt for me for Christmas by the way!!  #vegan #bekindtoeverykind #veganfortheanimals #veganweightlifting #vegangains #strongvegan #veganwoman #vegananniversary #GoVegan #veganbodybuilding #anythingyoucaneaticaneatvegan #LivinglikeLeila
Happy March!  An update on my February goals:
▪️Pay off my car ✅✅✅🙆‍♀️🙆‍♀️🙆‍♀️  ▪️Jump rope for at least 2 minutes daily ✅ (Well, I missed ONE day but otherwise I enjoyed this challenge a lot)  ▪️Start 'Phase 2' of my training program ✅ (it's more intense than I expected but my strength and body are improving!)  ▪️Finish reading 2-4 books ❌ (I finished 0. I stopped reading a fiction book because it was boring. I've been taking my time reading The Brain That Changes Itself because it requires focus lol)  ▪️Stick to my usual habits better ❌ (Feb was tough for me honestly. Sometimes I have bouts of intense fatigue and lack of motivation which I believe is associated with PMDD. Idk honestly)  March is usually a pretty transformative month for me, so here are my goals:  ▪️Put at least $600 to student loan savings
▪️Make over $1K online
▪️Finish The Brain That Changes Itself
▪️5 minutes of abs daily (new challenge!)
▪️Walk 10K steps daily again
▪️Stick to my habits/routine (for real this time!! I'm feeling better 😊)  #NewMonth #debtfreecommunity #debtfreejourney #blogger #youtuber #goals #february #habits #march #personaldevelopment #strong2021 #fitness #vegan #fitnessgoals #health #healthy #LivinglikeLeila #DebtOverIt
I just wanted to say a big thank you for all the l I just wanted to say a big thank you for all the love and kind words on my previous post ❤🥺  It amazes me that I have this growing community of support and I'm so grateful for it.  I know paying off a car and paying off debt isn't a big thing for everyone, but it's a huge part of my life and I genuinely appreciate that everyone is proud of me and celebrating with me!!  I do hope my progress and my openness on my finances encourages more people to look into theirs and improve it. Improving my finances has made a HUGE difference in my life.  No, money may not buy happiness. But when shit is in order you have less stress, more clarity, and more faith in what's to come👌  These blue light glasses are from @tijneyewear 👓 (gifted)  #thankyou #financialindependence #finance #debtfreecommunity #debtfreejourney #DebtOverIt #blogger #financialcoach #debtcoach #personaldevelopment #neverstopimproving #LivinglikeLeila
I paid off my car today 🙂 27 months EARLY!!! T I paid off my car today 🙂 27 months EARLY!!!  This car should have cost me about $22K, but it ended up being about $30K!!! I'll break down why that is in a future video.  But for the first time in my adult life I am paying $0 in interest right now 😭  I started my debt free journey in June 2018 with $82,200 of debt... I'm now down to ONLY my student loans of $36,200. Which are in forbearance and at 0% interest right now.  This is like a little preview of the debt free life 🥺  Not to mention, my minimum car payment was $382.55 and if I invested that monthly, it would grow to over $200,000 in 20 years.  You may be able to afford that car payment, but it comes with a HUGE sacrifice.  My debt free journey has changed my life and I'm so, so excited for my financial future. 🙏💰  #cardebtfree #finances #debtoverit #cardebt #debtfreecommunity #debtfreejourney #money #finance #studentloandebt #financialfreedom #financialindependence #firemovement #financialindependenceretireearly #TransferTuesday
'Living like Leila' will always be my first born b 'Living like Leila' will always be my first born baby business, but as my personal finance business has significantly grown I've realized I just want LLL to encompass Me.  If you haven't noticed, I am VERY multi-passionate. I love fitness, finance, personal development, veganism, plants, books, food, planning, habits, business. I literally lose sleep at night because I CONSTANTLY have ideas lol  So I know this IG and my LLL YouTube covers everything under the sun, but that's exactly what I want it to be. It's just a digital journal of my life and even though it can be a lot, it's just a reflection of my life and the things I value.  This has allowed me to put less pressure on myself for the content I create, and I truly just enjoy it all as a hobby now.  So I understand that some of my content may not resonate with everyone, but I appreciate ya'll being here 😊❤  And as a side note, if you decide to start an online business...niche down to ONE topic. It will go a lot further, at least from my experience 👀  #multipassionate #livinglikeleila #vegan #personaldevelopment #books #debtfreecommunity #finance #debtfreejourney #business #onlinebusiness #habits #fitness #life
Post-filming, pre-workout selfie ✌ hence the mes Post-filming, pre-workout selfie ✌ hence the mess.  My January finance update and February budget will be up Friday 😊  Also these are the best leggings ever from @ptulaactive  #ptulafamily #ptulaactive #ptula #youtuber #health #fitness #vegan #fit #igfitness #blogger #debtfreecommunity #debtfreejourney #debtoverit #budget #finance #livinglikeleila
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