by Hope
With summer winding down, at least we think, and school starting within the month, we all hope. I have decided to do a no spend month for August. And by that, I mean, not spend anything not already planned for.
Here is my August plan, my forecast, taken from my spreadsheet where I track and plan all spending.
| Netflix | 1-Aug-20 | -15 |
| Rent | 3-Aug-20 | -650 |
| Dental Insurance | 6-Aug-20 | -41 |
| Nelnet | 7-Aug-20 | -600 |
| Water/Gas bill | 7-Aug-20 | -151 |
| Allowance/Savings Trsfr | 7-Aug-20 | -70 |
| USAA Auto Ins | 10-Aug-20 | -477 |
| Allowance/Savings Trsfr | 14-Aug-20 | -70 |
| HRV | 15-Aug-20 | -250 |
| Groceries | 15-Aug-20 | -50 |
| Nelnet | 21-Aug-20 | -350 |
| Allowance/Savings Trsfr | 21-Aug-20 | -70 |
| Spotify | 24-Aug-20 | -15 |
| Nelnet | 27-Aug-20 | -650 |
| Allowance/Savings Trsfr | 28-Aug-20 | -70 |
| Auto – Gas | guesstimate | -100 |
| Total Spend | $3,629 | |
| Debt Payment | $1,850 |
I’ve got a minimal grocery spend in the middle of the month for fresh produce. Guesstimated a low gas month since school has not started yet and the girls both work less than a mile from the house. And included all bills that have yet been paid for the month. (I’ve already paid the electric and internet bills for the month.)
Almost 50% Goes to Debt
Because we live off of last month’s income, I am very comfortable I can reach this goal. I’ve already received all bills so I know these numbers are accurate as far as utilities and fluctuating costs. And I have scheduled most of these payments. I haven’t scheduled the last student loan (Nelnet payment) because I’m still waiting on customer payments to come through and it wouldn’t let me schedule out that far. But I should have the final payment pre-scheduled by the end of next week.
If we stick to this, our monthly spend will still be high, right at $3,629; however, over HALF of that is going to debt. I’m planning for $1,600 to go toward student loans next month.
Do you know what this means? When all is said and done and I get out from under this debt, my living expenses will be almost nothing. I mean, not nothing, but very manageable. Now that is a thought to keep me motivated!
So here we go to a No Spend August…or at least no unplanned spending!
Hope is a resourceful and solutions-driven business manager who has spent nearly two decades helping clients streamline their operations and grow their businesses through project management, digital marketing, and tech expertise. Recently transitioning from her role as a single mom of five foster/adoptive children to an empty nester, Hope is navigating the emotional and practical challenges of redefining her life while maintaining her determination to regain financial control and eliminate debt.
Living in a cozy small town in northeast Georgia with her three dogs, Hope cherishes the serenity of the mountains over the bustle of the beach. Though her kids are now finding their footing in the world—pursuing education, careers, and independence—she remains deeply committed to supporting them in this next chapter, even as she faces the bittersweet tug of letting go.
Since joining the Blogging Away Debt community in 2015, Hope has candidly shared her journey of financial ups and downs. Now, with a renewed focus and a clear path ahead, she’s ready to tackle her finances with the same passion and perseverance that she’s brought to her life and career. Through her writing, she continues to inspire others to confront their own financial challenges and strive for a brighter future.
Good luck, Hope! I’m working on cutting my takeout coffee budget this month. I picked up some concentrated latte mix from Costco as an assist, but ultimately, I’d like to reduced my overall coffee consumption to just a cup or two in the morning and then an occasional weekend treat.
Thankfully, since my Coke addiction (Coca Cola, that is), my food issues have greatly subsided. Now I am fasting 42 hours, 3 times a week. So although I keep plenty of food in the house for the 5 kids here, my food intake is greatly reduced. However, when I do eat, I generally crave real food. Fresh produce is important around here. (One of the kids is a vegan too.)
You mentioned in your last student loan update that your forecast was $8000 by the end of July. Did that happen? It’s good to see projections but nothing beats actual outcomes in your updates.
I did…update on that coming later this week.
Any chance you can afford to pay your auto insurance in one lump payment for the 6 month policy? Mine is almost a full month cheaper if I pay in advance. Honestly I thought everyone did…If you can’t just yet, that would be a good goal for when your policy renewal comes up.
I do not believe that is an option, but I will certainly check into it.
With USAA, the amount is the same regardless of whether payment is made upfront or monthly.