HOW WE SPENT 12K IN JUNE 2024 || A SLOWER DEBT PAYOFF MONTH

This is my budget close out for June of 2024. We are a single-income family of 5 who is working on paying off 6-fiure debt. We are loosely following The Financial Order of Operations to accomplish this. Each month I make a budget to tell our money where to go so we can accomplish all of our financial goals while enjoying life a little. This video closes out our budget for June so you can see how we allocated our income. I hope you enjoy the video!
Disclaimer:
I am NOT a financial advisor, and this is not financial advice. I am just sharing my personal experience with you.
#budgeting #debtfreecommunity #debtpayoff #financialorderofoperations #budgetwithme #finances #financialgoals

[@shangyuanteng3306]

Wow. The debt payment amount is more than my monthly income. Can you imagine you how fast your investment will go up once you pay off debt? 🎉 how exciting🎉

[@KatieoftheHouse]

Thank you! I really hope we can throw most of it to investing once we are debt free. I can’t even imagine that yet!

[@curvyechronicles]

Playing a bit of catch up today with your videos! Budget looked amazing! Especially with all that to debt!! ❤ proud of you!

[@KatieoftheHouse]

Thank you, Courtney! I’m so thankful we’ve been able to put so much to debt lately ☺️

[@savewithalicia2434]

$681 in unbudgeted income is awesome. Only $21 over on your grocery budget is not bad at all, and you made up for with spending less in some other categories. Good job this month.

[@KatieoftheHouse]

Thank you so much, Alicia! I’m so glad we had that extra unexpected income this month. ☺️

[@BethelBudgets]

Great Job Katie! That is an impressive number going to debt. You're going to be out of debt in no time! I hope you're enjoying extra time with your family!

[@KatieoftheHouse]

Thank you so much! I will be so so happy when that day comes 😄😄

[@GG_Budgets]

Hi Katie! You guys did great and you’re killing it with debt payments. In June we did a “no eating out” challenge and surprisingly we did well. Saves so much money and we eat better. Looking forward to another great month

[@KatieoftheHouse]

That’s so awesome! We need to do that honestly! We probably don’t need to be eating out at all anyway, and think of all the money we’d save! Thanks so much for watching!

[@mrssummersbudgets]

Hi Katie, great job for the month of June! Congrats on ur yt check 🎉

[@KatieoftheHouse]

Thank you, Stephanie! 🤩🧡

[@catgodfrey6451]

Y’all killing it.🎉 we did the same w/ eating out. We did better in June, but it definitely could be much better. Have a happy & safe 4th🇺🇸🎆

[@KatieoftheHouse]

Thank you, Cat! Maybe July will be even better for both of us for eating out 🤞🏼 Have a happy 4th! ❤️🤍💙

[@singleparentfire2363]

Love how detailed you are on your monthly budget ❤

[@KatieoftheHouse]

Thank you!

[@turtlescanfly7]

Congrats on all the progress! Definitely slow down on the videos in the summer so you can spend extra time with your family. I’ve finally started making steps to starting my KZbin channel but it feels so daunting. Trying to research what apps I need to edit videos feels a bit overwhelming but I’m committed to posting something within the month of July 🤞

[@KatieoftheHouse]

Oh my gosh!!! You just made my day!! I’m already subbed, so I’m ready when you are 🎉😃

[@angbudgetanddebt]

You are doing good! Even with unexpected things!

[@KatieoftheHouse]

Thank you, Ang!

[@summerjoy247]

Wow you guys are killing it!

[@KatieoftheHouse]

Thank you, Sherri! 🩵

[@FIRE_DrNinjaTurtle]

I am financially free because I still pay attention.

[@KatieoftheHouse]

👏🏼100%

[@BudgetStuffSaveRepeat]

Hey Katie!!! Anything under budget is AWESOME!!!

[@KatieoftheHouse]

I totally agree! Thanks, Melissa 🧡

[@debratakagawa4764]

That was a really good amount to debt.

[@KatieoftheHouse]

Thank you, Debra!

[@terryhenderson424]

What a topsy turvey month June was for your finances! Less income supplemented nicely by unbudgeted income, 2 holidays and a multi-month bill but with an eye on the regular variable expenses, some school prep, and yet you paid extra on both Fed loan 5 AND the Highlander. You did well.

[@KatieoftheHouse]

Thank you so much, Terry! It was kind of an unusual month for us, but I am thankful that it turned out so well.

[@terryhenderson424]

@@KatieoftheHouse You have a good 4th of July.

[@KatieoftheHouse]

@@terryhenderson424 you too, Terry! ❤️🤍💙

[@deeplansandbudgets]

Good morning Katie. A Happy 4th to you and your lovely family.

[@KatieoftheHouse]

Thank you, Dee! Happy 4th to you!

[@charity7273]

Look at you bringing in $850! 🎉🎉🎉🎉

[@KatieoftheHouse]

😄 so proud! Haha

[@BrittneyBudgetsAndThings]

Great video!!! Glad you were able to pay more towards debt ❤

[@KatieoftheHouse]

Thank you so much, Brittney!

[@terrychittam945]

❤❤❤❤

[@KatieoftheHouse]

Thanks for watching! ❤️❤️

[@FIRE_DrNinjaTurtle]

I am going to create a pie chart on my monthly spreadsheet so that I can see my monthly savings rate.

[@arh1234]

I love that on Katie's videos! Outstanding idea to adopt.

[@KatieoftheHouse]

It’s always fun to see it broken down that way! 😄

[@fasteddy3336]

Question: what do you do when you have an emergency in the middle of the month? Something you didn’t plan on. Example, air conditioner breaks, and it caused $405 to fix it. Do you go back into your budget and do a transfer for the for the $405 and then change the amount in home maintenance? This is what I do so my budget looks correct. But really I overshot my original budget. Just wondering what you do. Great videos great channel.

[@KatieoftheHouse]

Oh great question! We actually JUST had two unexpected things pop up that we are having to deal with right now. My video going up Thursday will explain in more detail, but yeah, if just transfer it out of my home maintenance sinking fund or emergency bench find if we had to use it. I probably wouldn’t change the actual budget since I did initially send that money to my sinking fund or emergency fund (whatever you use), but I would update my sinking fund spreadsheet so I know how much I should have after the payment is made. Hope that makes sense!

[@Divasbudgeting]

Awesome job🎉 you’re doing great with debt payoff. Hope you have a wonderful Holiday

[@KatieoftheHouse]

Thank you, Eva! I hope you do, too! ❤️🤍💙

[@libbysworld7649]

You are doing SO WELL! I'm so happy for you! Thanks for sharing your update. Have a WONDERFUL weekend and Happy 4th of July to you and the family! Enjoy! :-)

[@KatieoftheHouse]

Happy 4th to you! ❤️🤍💙 Thank you, Liz!

[@izzybreezybudgets]

Happy Wednesday! R u doing amazing in debt payoff! Great video

[@KatieoftheHouse]

Thank you, Izzy!

[@RobertaOrchid1]

Thanks for sharing your budget breakdowns, you have given me food for thought with my budget. I have not really looked at the percentages of our take home categories. I’ve been hearing about the 50/30/20 rule but not sure it is realistic for me. Your 4 categories makes more sense and is easier for me to better see what we have control over. I will work up some of my numbers now and see where things fall!

[@KatieoftheHouse]

I’m glad you found this helpful! The one thing I’ve learned about budgeting is that you have to make it work for you. If a 50/30/20 rules doesn’t fit, that’s ok! You can always try new things until you find what works best ☺️

[@buyerclub2]

Hello. Well the market closed at noon. So just a comment or two on your monthly. While I know you consider yourself a monthly budgeter, sometimes it makes sense to look at a larger picture too. For example, how did you do in the first half of 2024. Let me see. You spent far less on groceries than you did last year, you both invested alot and paid off a lot of debt. Including one of the major student loans you had. Seems to me that even though June wasn't that exciting your 2024 as a whole was. Glad you have the goal to get rid of both the car loan and Fed Loan 4(?) by the end of 2025. Make sure though while you are pushing for that stretch goal, you dont sacrifice too much that you burn yourself out. BTW I did leave you a couple of notes the other way in the last 2-3 weeks. Have you had a chance to review? Could it be that Marc didnt take spending money as his trading is becoming more profitable?

[@KatieoftheHouse]

That’s a great perspective! This year as a whole has been a HUGE improvement over last year, even though June felt a little slow. I still have no checked the “other way” yet, Jon! I’m sorry! I will though 😅