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July debt snowballBig changes coming in the Gerken debt snowball department.

Yes, we are continuing to work on our debt snowball. However it may be taking a little bit longer to complete, but we are okay with that.

I have accepted a new job, which means a pay cut.

Now I know what you’re thinking. A new job doesn’t have to mean a pay cut. In fact it usually means a raise – if you’re doing things right.

Well this time it means a pay cut, but it also means a schedule cut. I am taking a 25% pay cut which nicely corresponds to my over 40% schedule cut.

Money isn’t everything.

While I do think it’s important to be debt free, there are other things that are more important. If we continue to work our debt snowball the way we have been this change should only add 9 months to the debt snowball – worst case scenario.  Granted this schedule change should also free up some more time to work on the blog and get that moving towards being successful.

So what does over 40% less work mean for me and my family?

It means being able to take Cassidy to school and pick her up.

It means summers off to spend with both girls.

It means not having to figure out day care at the last minute on days Cassidy has off of school.

It means hearing those stories of how school went right after school while Cassidy works on homework and eats a snack.

It means a slower-paced evening.

It means more time with Brian whose night shift schedule means sometimes his days off are in the middle of the week.

It means occasionally being able to pick up groceries at odd times during the day when it’s not crowded in the stores.

We’ll see how it all pans out, but I predict that this 25% pay cut and the extra 9 months it will take for the debt snowball will be worth it in the additional memories we’ll make with our time together and sanity for all in the house.

I know I’ve mentioned once or twice before how busy and expensive the month of July is for our family. It is very similar to December since we have three birthdays, one anniversary, and usually vacations and/or a family reunion out of town.

This July was no different than anticipated; however, we were prepared for it. Our goal for July was to not use any savings to get through the month.

I am happy to report that we accomplished that goal.

We didn’t have extra to go towards debt, but we cash-flowed birthdays, parties, a mini vacation for the girls’ birthday present, and a family reunion trip. Oh, and I almost forgot a new – new to us clothes dryer.  Yes, it was an expensive month, but we didn’t use any savings and we’re ready to attack that debt snowball again in August.

So here’s the update for July:

Income report from July

Extra from July paychecks                $0

Money from Varage Sale sales         $ 33.99

Total extra income                           $33.99 (but it was used towards monthly expenses)

Total extra income towards debt snowball      $ 0



Outstanding student loan debt                       $46,529


Debt Snowball Updates:







2 Comments on Debt Snowball Progress – July

  1. What awesome news! So happy that you’re able to do it and, you’re totally right, in the grand scheme of things 9 extra months is not going to make a difference…especially for what you’ll be getting in return!

  2. I can relate. I was working a job that was extremely stressful for years. It ended up affecting my health and my kids. I switched jobs a few years ago and my kids are doing so much better. I make less (and also work less), but I’m figuring it out. I occasionally do side jobs, but they’re usually at home. I also have some time for my blog now. Each of the little things you mentioned seems like such small things, but makes such a big difference. I’m glad it’s working out for you. Good luck!

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