August 2017 Army Updates – The Great War of Debt


 great war of debt - 270x250

Planned Army Statistics by Year (Unchanged from July):

In July, I posted to officially declare war on debt. Although the battles began discreetly in January, it was time to publically announce the commitment to destroy the greedy barbarians. Before getting into August updates, let me share the three-year plan to rid ourselves of these bloody fools.

3 Year Loan Pool / Investment Plan

YearCumulative Student Loan PoolCumulative Student Loan PaymentsCar Loan PoolCumulative Car Loan PaymentsAnnual IRAAnnual 401(k)
2017$7,918$5,2190$1,920$5,500$18,000
2018$12,538$10,4380$3,840$5,500$18,000
2019$17,448$12,7213,800$5,760$5,500$18,000

I will be around 3K short at the end of 2019 for my student loan pool, meaning that in the next 3 years side hustles / arresting expenses will be required to hit the goal. Have a suggestion? Would love to hear it!

Army Updates for August 2017

  • Bad Guys:

    Student Loans of the East
    • Army Size: 31.2K (was 31.5)
    • Growth Rate: Avg of 5.5%
    • Weakness: Although large in numbers, the army lacks trained fighters. Each month they lose 294 men
    Auto Loan of the West
    • Army Size: 8.9K (was 9.1K)
    • Growth Rate: 5.5%
    • Weakness: Sickness infects the army to reduce its size by 117 each month

    Good Guys:

    Loan Pool Savings of the North
    • Army Size: 7.7K (was 7.5K)
    • Growth Rate: 1.0% (Capital One360 savings)
    • Weakness: Early career salary means an average of only 375 greenbacks soldiers graduate to fight each month

Side Hustle Income for August Update

August brought in ~$200 side income from a side tech gig. I prefer to use side hustles in the form of technology because higher hourly pay makes the side hustle worth the time.

Blogging is the abnormal case for me here, because personal finance + wanting to impact the world are passions, in other words, I really enjoy it. See 10 of our takeaways from our first 10K views!

Lessons from August Update

Biggest lesson – always be prepared and adapt to mistakes

If you create an annual budget, with the mindset of adapting and changing it due to life, then one important characteristic of the planning phase – know which months are three paycheck months.

If you're paid bi-weekly, these happen when the 1st of the month is on a Friday, and that Friday is your pay day.

I for some reason budgeted for three paychecks in August but miscalculated as it wasn’t.  I was able to adapt the budget to meet this, and also change forecasted savings/expenses for September based on the new income.

Summer months – Lifestyle inflation

Throughout the Summer months, lifestyle inflation is real! Entertainment adventures are everywhere, From invites to summer road trips, or seeing live music. Visiting neighboring cities and packing up snacks for a trip to the beach. The fun can add up. If it wasn’t for my love of nature walks and reading books from the library, it could have definitely hampered the good guys in the war.

A yellow van riding over the sand with the blue ocean water and blue sky in the background.

Next year, I will look to either curb a bit of the money spent here or better prepare for it by saving a little for the fun.

Overall, it was worth some of the budget misses as the experiences were so memorable with celebrations of life achievements. The good guys still increased, while the bad guys didn’t. That to me means the war still leans in our favor!

Concluding Thoughts

The Summer comes to an end and Fall begins to creep up on us. How was your Summer spending? How are you doing as we approach the end of the third quarter?Please share any tips or suggestions for me or any updates on your own war. Thank you for reading! Join the war!!

Please share any tips or suggestions for me or any updates on your own war. If you want posts via your inbox – subscribe to our pigeon service. Thank you for reading!

Leave a comment

Your email address will not be published. Required fields are marked *