Within a month, we've brought our debt down by nearly 2k. Congratulations to us!
What's sad is letting go of all that money that we could've either saved or invested. The happy part is improved net worth. Realistically, it's not looking positive that we'd pay debt off this year but it would be dented big time. That's if we stick to our spending plan. If we do, we'd have paid at least 50%. I really cross my fingers, call on the gods of every religion, and pull every source of resolve that we stick to it. Please! Let it happen this year.
As soon as we got paid this week, I paid off borrowed expenses from this period. Borrowed expenses are those that went beyond the period's budget for a specific item. Say we budget $300 for grocery. If we end up spending $350, $50 of that has to be paid from the next period. This system enforces me to stick to the budget cos that would lessen our target of $500 paid to debt each period. So, this period, we only have around $400 to put towards debt. Not looking good, I know.
I revisited the spending plan and the forecast looks like we'll be caught up by the end of Feb. That's not so bad. Fail early, fail fast. I started off this year with a few resolutions and I've stayed pretty motivated to keep at it. I also have modified my day-to-day work strategy to pursue efficiency and effectivity, not to mention real productivity.
I have also lost about 5kg in the last 4 weeks. :)