Monthly Progress Report #15

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I was so excited Spring was coming when I wrote my February monthly progress report, now COVID-19 has taken center stage. It’s not like I wasn’t aware of the virus when I was writing last month, but maybe I still had some misguided optimism that the spread would stop.

Of course, I felt awful for the sick people in Wuhan, the overworked doctors and nurses and people who were not sick but were unable to leave their homes. But China is a world away, I’ve never even been off the North American continent. I knew it was happening but it seemed distant and maybe a bit too reminiscent of the time a few years back I closely followed the Ebola outbreak. But then they contained the outbreak. That’s what they do isn’t it?

Side note - who is this mysterious they? Healthcare workers, WHO and governments I suppose? I’m not sure but certainly they’re akin to real life superheroes - saving the world and whatnot.

But then a day later, on March 1, the first case was confirmed in NYC. Iran and Italy became new hotspots, followed by other European counties and the United States. The news is only news of the virus. The stock market has plummeted and people have been losing their employment en masse.

And now we’re under a stay at home order, life has basically shut down around us and the new epicenter of the virus is close to home.

Everything seems so uncertain and scary. I don’t want to dwell on it but I very well can’t not mention it either. I know that no one is certain how it’ll stop or when it’ll stop but I certainly hope it’s soon. I hope the curve is flattened, health care workers are provided with necessary supplies and lives are saved.

Now, let’s venture back to the reason I started this blog - to get a hold on my debt. I feel silly writing this with all that’s going on. But it’s been my tradition to update you monthly and I suppose the normalcy is comforting, so here goes nothing..

As I write this I’m worried. Worried about my employment prospects. Worried that a recession comparable to 2009 will happen again. Worried about how I would pay my mortgage if I was unemployed.

But, I guess I’ll have to worry when it happens. No use worrying about something I have no control over.

And I know those aren’t the big things. I’m not a monster worried solely about the S&P and my 401k account. I’m also worried about my elderly relatives, my immunocompromised mother and my own weak immune system.

Alright, I’m done lamenting about the virus.

Here’s my March figures:

Mortgage: $146,700

Car Loan: $6,000

Student Loans: $8,200

Credit Cards: $1,900

And now factoring in my renovation fund:

Renovation fund requirement: $10,450

New Grand Total of Debt: $173,250

That’s a $1,000 reduction over the last month. Not bad.

I’m struggling with my renovation fund. I’m thinking in times of uncertainty like we’re in, maybe I should focus on not spending money.

The good news - I have time to reconsider. Maybe all my bad luck last year with stalled renovations was foreshadowing. Or maybe I just have bad luck. Time will tell.

Now let’s take a looksie at my savings:

Savings account: $2,300

P2P Lending account: $200

Investment account: $300

Grand Total of Savings: $2,800

I lost some value in my stocks but luckily it wasn’t too bad. I’m down $50 but I did buy an additional share so I’m probably more likely down $100. But hey, everyone is down and I won’t complain about my minimal loss when some people are losing thousands and thousands..

I hope everyone stays healthy and safe. I hope that by the time I write my next monthly progress report we will be seeing some real positive progress. I’ll be thinking about everyone.

Remember, we will get through this ❤️