This August has temporarily crushed my debt attack. Here are the mistakes that I made.
1. Not sticking to the cash box budget meant that for the last few months, we've once again began living beyond our means.
2. Related to number 1: we've dipped in to savings to bridge the spending gaps and now savings is zero!
3. I switched auto insurance and to get a cheaper rate, I paid the full six month premium at once
4. My car broke down, see point 1 again - no money left in savings
5. My kids back to school shopping was done without a budget - which means we spent more than we had
In summary, unexpected medical premiums over $200 bucks, sports and tournament fees, back to school stuff, etc., has slapped my debt reduction plan upside the head. Now we'll need to use September to just recover from August, so hopefully the plan will be back on track come October.
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