Monthly Review

March Reflection

Hello everyone!

Welcome back to my blog. Today I will be reflecting on the month of March. This month is a special one.

First, I want to tell you that my Debt Free Journey anniversary was in March. I couldn’t believe that it had been a full year already.  This month I also have been working for a year at my job, which is so crazy to me. Time went by so fast and I am still enjoying my job.

In March I also lost my motivation a little bit. I was so tired of this debt and I just wanted it to be gone. I just wanted to move on to the next big steps. So I decided to do more payments throughout the month. You are probably wondering what money I used to make those extra payments. Well, here is an example. For my groceries, I budgeted €100. Halfway through the month, I should have spent €50 right? Well, I didn’t, so the difference, which was about €34, went to my debt. I did the same for the other categories. This kept me a bit more motivated because I didn’t have to wait for 2 to 3 weeks to make another debt payment.

At the beginning of March, I also realized something. When I graduated I wasn’t able to pay off my debt right away. The “pay button” wasn’t there yet. In the meantime, I was putting money aside on my savings account. It was a little bit over €1.200. So I basically came to the realization that if I put that money towards my debt I would be debt-free in March.

Well here is the announcement, which I was talking about in the last monthly reflection: I AM DEBT FREE!!! I am finally debt free! I became debt free on March 23rd. 

This is how it happened: on March 21st I couldn’t wait anymore and I put the €1.220 that was in my savings towards my debt. After that my new total was €325,71.

On the 23rd I received my salary and paid off the remaining amount with my usual monthly payment. And then I became debt-free.

This is what my debt payment looked like for 2021:

I still cannot believe that I am debt free. Today it’s March 31st. In my head, I was thinking “tomorrow I have to put €100 towards my debt”. Then I was like “wait, I don’t have to”. I am so happy my debt is gone. I really didn’t think that I would be debt free in the first quarter of 2021. I feel so relieved and so does my mom.

I was also tracking my progress by using a diagram and seeing it all green was so satisfying.

I am also excited to receive my salary in April because that will be the first salary that I can fully enjoy. 

I am happy that this chapter is finally closed after 13 months and that I can move on to baby step number 3. In the next monthly reflection, I will tell you what my next goals are. I didn’t do it in this post, because I wanted this post to be about my debt freedom.

This is all I have for today.

Thank you for your time and until next time!

Love,

Color and Coins

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