August 2011 Update:
Debt Total: $37,558
% Change from July 2011: 1.99% Increase, Ah!
Woops, I made some silly purchases this month. I was trying to build passive income but I don’t think I should have gotten into debt over it. Also I loaned someone some money (not reflected in the total) but that ended up making me unexpectedly low on cash, and I ended up using my credit card at the end of the month.
If you are trying to reduce debt and you find yourself in a worse position one month, don’t get discouraged. I’m not! I am just going to work extra hard to increase my income this month, and pay off what I spent this month and pay off old debt.
Here is my goal for September 2011: Get under $37,000 in debt and continue to research business opportunities, and read this book on real estate (to see if it is a possibility for me or not, based on the recommendation from Geniustypes): Weekend Millionaire’s Secrets to Investing in Real Estate by Mike Sumney and Roger Dawson.
I’ll give my review on this book in my next month Debt Update!
Note: If you want to monitor my progress on reducing debt since the beginning of this blog, just click on the ‘debt update’ category and you’ll see every month’s progress.