100/100 how is THAT going?

Remember way back last month when I said the title and goal of this blog was to pay off $100,000 in 100 months (almost 2 years time).   Well, that goal remains.  But what is a goal without a report?

$100,000 over 100 weeks is $1000 per week.  Now, June is our first month of tracking this and we are not even close to that, I’ll get to the figures in a minute.  I want to take a second to explain how this is going to happen and then over the next few weeks show you what has worked so far.

We will probably not earn $1000 every week over and above our living expenses.   We know that some weeks will be less and hope that some weeks will be more.  $1000 a week is just an average so we all have in our head a visual of what this goal looks like.  If we get $50,000 from an anonymous donor all at once then hey – THAT is great but if we have earn it slow and steady and work up to it that is okay too.

I haven’t decided exactly how frequently to report where we are on this goal.  So for June I am going to give it to you now (mid-monthish) and then report the total for the month the first week of July.  Down the road it may be more frequently it may be less.

There are two categories to report.  First, how much extra money did we bring in.  Second, where did we save.

Extra money month to date is $303.26.  This came from my part time job and one small freelance writing job.

Savings month to date is $50.00.  Last week my husband, who is on board with this plan, figured out how to change the way we buy groceries so we save $50 every week.  Our grocery budget has now been reduced from $100 to $50 a week for our family of 4.  If we can keep this up that is $200 extra a month to put toward debt payment.

Soon Steve (my husband) will provide a guest post on how he is doing the grocery shopping – he is a chef by profession so this one is all his!

So, where can you make money and where can you save money?  Hopefully our experience will help you find ways to do both!

Tomorrow:  Making money means saving at home!

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~ by Rachael Judd on June 23, 2010.

One Response to “100/100 how is THAT going?”

  1. Please tell Steve to share his grocery shopping tips soon!! I really try, but still spend $75 most weeks on groceries for two people. I get worried about what that will look like when we have kids. There has to be a better way, and I’d love to know what his secret is!!

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