Its Money Monday. Today I am creating a plan to Dump my debt. I already have been working towards it but not as aggressively as I could have. I have been listening to Dave Ramsey all weekend and I am dumping the debt. I have new resolution to sell as much stuff as I can.
My CC#1 is the first to go. I am dumping them as fast as I can. I read this blog today and I can totally relate! My CC#1 company when I told them I wanted a lower rate responded by telling me I was using this as long term debt. It was to encourage me to get rid of them as a card. So the interest rate is 30%. Needless to say I am looking for balance transfer offers but my number one choice is PAY them OFF FIRST. Why a big balance first you ask? Well isn't 30% a disgusting enough reason. It is no longer o.k. with me to work for a bank. I want to work for myself. I want to be debt free.
This morning I transferred Cash from Checking to savings. My Balance is now $1078. Hooray! I also transferred $200.00 from reimbursed funds I rc'd. Typically my checking account would just absorb that money. But I am making a thoughtful focused effort to make sure any extra money I get goes to that stinkin' debt!
I also spent time this weekend with some final scanning and I have scanned the last 10 years of my takes. Done :-) It feels good. And yet I find myself looking around for more. I am on an organizational high!
Monday, February 18, 2008
Tuesday, February 12, 2008
Tell all Tuesday
Well I usually work from home on Mondays. This week my daughter needed some Mom transportation so we arranged for my day to be switched. I LOVE work from home days.
I spent some time computing my spending for January. I was feeling very happy that I was very close to my food budget. Then I looked at a few other categories and I feel that I have some improvement to do.
Here are a few expenses....
Rent $ 850
Cell phone $ 80
Groceries $ 631 ($ 6.00 over)
Eating out $ 168.70 ($ 170 over)
Gas $ 138.59
Credit Cards $1160 ($ 160 additional :-) )
Cable $ 187 ($ 17 over)
Cash $ 154
Misc $ 69.77
Bank Fees $ 4
So you can see I did very well on my grocery budget. We went over my usual payment for the cable because I have no allowance for renting movies. January is a cold month and I can accept spending money on inside entertainment. Eating out to lunch is something I need to improve. Also the Bank fees have to stop. I would also like to take out less cash. Most of that money is for my daughter. It goes to a meal while she is working or for an outing with friends. She has started working on her own so I should be able to cut that to about $100.00.
Overall for January I feel we have made a lot of positive changes. I want to work on making a little more progress on the eating out and bringing my lunch phase. I would also like to cut the grocery budget because I think it is high for three people. We could do better in that area. We have some challenges there but I just read "
How Would You Like to Spend Only $100 per Month on Groceries?" from Single Ma and I think it time to try a few of those suggestions myself. Anything I save can be gathered to the debt.
I am also listening to different podcasts online. I think when you are trying to work towards a goal it is important to surround yourself with people who share the same goals. So.... I am reading blogs every day and I listen to others for some inspiration. I am getting my website up to snuff so I can take in some additional income and I have decided to study for the GMAT in order to apply for my MBA to begin Fall of 2009. I think we can do it. it is ambitious but all I have is today.
I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......
I spent some time computing my spending for January. I was feeling very happy that I was very close to my food budget. Then I looked at a few other categories and I feel that I have some improvement to do.
Here are a few expenses....
Rent $ 850
Cell phone $ 80
Groceries $ 631 ($ 6.00 over)
Eating out $ 168.70 ($ 170 over)
Gas $ 138.59
Credit Cards $1160 ($ 160 additional :-) )
Cable $ 187 ($ 17 over)
Cash $ 154
Misc $ 69.77
Bank Fees $ 4
So you can see I did very well on my grocery budget. We went over my usual payment for the cable because I have no allowance for renting movies. January is a cold month and I can accept spending money on inside entertainment. Eating out to lunch is something I need to improve. Also the Bank fees have to stop. I would also like to take out less cash. Most of that money is for my daughter. It goes to a meal while she is working or for an outing with friends. She has started working on her own so I should be able to cut that to about $100.00.
Overall for January I feel we have made a lot of positive changes. I want to work on making a little more progress on the eating out and bringing my lunch phase. I would also like to cut the grocery budget because I think it is high for three people. We could do better in that area. We have some challenges there but I just read "
How Would You Like to Spend Only $100 per Month on Groceries?" from Single Ma and I think it time to try a few of those suggestions myself. Anything I save can be gathered to the debt.
I am also listening to different podcasts online. I think when you are trying to work towards a goal it is important to surround yourself with people who share the same goals. So.... I am reading blogs every day and I listen to others for some inspiration. I am getting my website up to snuff so I can take in some additional income and I have decided to study for the GMAT in order to apply for my MBA to begin Fall of 2009. I think we can do it. it is ambitious but all I have is today.
I am not a financial professional. If you are looking for financial advise you should seek it elsewhere. If you would like to join me on the journey, walk with me for a while and be my friend......
Sunday, February 10, 2008
So As a result of paying off a very big chunk of change.... I have updated my side bar to have Credit card #1 @ 71% Hooray! Today's balance is $8,638.80. Of course there will be interest in the next billing cycle but this month I was able to pay down $3036.00 to principle. That means next month the min payment will be smaller. And I will be able to pay MORE to principle. I have not yet received my 2006 tax refund. The information I got stated it would take 6 weeks plus so that money wont be here until March. I will have another $1200 towards the #1 Credit card. Then of course there is the incentive money which I will send also directly to the #1 Card. The snow ball continues.
I have been very stressed by work and I am feeling intensely the burden of Debt. I am working today on my portfolio site and I will be putting out my shingle for more moonlighting work. I need to pay down a significant portion of my debt before I can move forward.
I have 3 things I can focus on.
1) Paying off DEBT
2) Taking the GMAT
3) getting into MBA program
(I would not even consider it until fall of 09
But it takes time to get ready and accepted)
My work would cover most of the costs to get the MBA. So as long as I can continue to pay down my #1 Card I should be able to moonlight less after one year. And take on school instead. Once my daughter is in college the day to day need for my attention should be lessened and I should be more able to study. I am finding I really enjoy my apt when it is quiet. Of course I always want the daughter with me but they do have to fly the coop sometime.
I had a long talk with the fiancee about getting my masters, and that it might effect things on the home front. He was very supportive and wants me to Go for it! so I am going to start studying. If anyone has any links or resources they would like to share please pass them on!
I have been very stressed by work and I am feeling intensely the burden of Debt. I am working today on my portfolio site and I will be putting out my shingle for more moonlighting work. I need to pay down a significant portion of my debt before I can move forward.
I have 3 things I can focus on.
1) Paying off DEBT
2) Taking the GMAT
3) getting into MBA program
(I would not even consider it until fall of 09
But it takes time to get ready and accepted)
My work would cover most of the costs to get the MBA. So as long as I can continue to pay down my #1 Card I should be able to moonlight less after one year. And take on school instead. Once my daughter is in college the day to day need for my attention should be lessened and I should be more able to study. I am finding I really enjoy my apt when it is quiet. Of course I always want the daughter with me but they do have to fly the coop sometime.
I had a long talk with the fiancee about getting my masters, and that it might effect things on the home front. He was very supportive and wants me to Go for it! so I am going to start studying. If anyone has any links or resources they would like to share please pass them on!
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