I Upped The Ante On My Debt Repayment / by Jennifer Chan


After months (nay, years!) of perfecting my budget, I've managed to cut a teeny bit more. As of next month, I'll be increasing the amount of money I'm throwing towards my insufferable student loans from 44% to 47% of my total net earnings. It may not seem significant, but over the next year this extra amount will total over $1,000. In practical terms, this will push up my expected debt-free date by a month.  Woohoo!

How did I do this? Three things:

Simplified My Budget

I eliminated some of my fixed and variable expense categories in my budget. I made things easier for me to track. I injected more freedom into my spending. There is nothing particularly complex about this.

Reduced My Monthly Expenses

I cancelled my subscriptions to Buffer and Tailwind. I will no longer automate pins or posts. Those marketing strategies never sat well with me. I also switched my Enterprise Car Membership plan from the intermediate plan to the lowest plan. Since softball season ended, I hardly rent cars anymore. Plus, I'll be out of commission for half of November due to my scheduled tonsillectomy.

Raised My Grocery Expense

Yes, that sounds counter-intuitive, but I’m really just encouraging myself to cook more meals at home and spend less on eating out. I wonder if this will trick my mind to spending less on indulgences?

As you can see, none of these actions are life-changing. But they will add up over time, which will translate to a worthwhile difference. Will I be throwing the biggest party of all-time in September 2018? Stay tuned.