July Check-In

As life returns to normal, I can finally start to catch up on the important things, like asking my audience to help keep me accountable with my finances. After interest was added, here is what my accounts are looking like:

Credit Card One: $1518.96

Credit Card Two: $4850.52

Student Loan, Outstanding Balance (as of 7/1/13, it increases daily!): $74,714.46

Let’s say I give myself 6 months to pay off my credit cards. Thanks to the calculator on my banks website, I was able to figure exactly how much I would need to pay on each to pay them off.

CC1: $260.90/month

CC2: $862.52/month

TOTAL: $1123.42

With the $775 I know I can definitely put toward the credit cards, that leaves a little bit of a gap to close, a $348.42 gap to be exact. Once I’m back to teaching dance again in the fall, that will help close the gap. But, I still have July and August to account for and I have no extra income those months (my summer classes had zero enrollment, so naturally they were canceled). I just posted items from my wedding for sale, so hopefully bargain brides will want what I’m trying to sell! I have some more things from my wedding to post, I just need to check the integrity of the items first.

I also have yet to receive my deposit back, and if I get that back it will completely close the gap for July, August and then some. I’m debating if I want to take it, apply it all to CC1, pay off the rest and just do above the minimum payment on CC2 for July [assuming that I do get the deposit back]. The good ol’ psychological trick of paying off one debt to keep motivated on the others. I’m leaning toward that route just because I like it so much- it really does help to motivate me.

Just so you all know, I’m always open to ideas (beyond what I’ve already put out there). If you have some phenomenal, legal and legit method of making extra cash, I’m all ears! I do like the easy way out admittedly, so the simpler the better!

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2 thoughts on “July Check-In

  1. Rose, first congrats on the wedding!

    Second, regarding making extra cash, have you heard of Swagbucks? It’s a site where you earn points by searching the web, watching videos, etc. then you can turn the points into giftcards or cash. 2500 points is $25 added to your paypal which you can then transfer to your bank account. http://www.swagbucks.com/refer/atxgirl623 If you are already a member you should put up your referral info so maybe people will join through you and you can earn points/cash. It does take a while to earn enough points to be profitable but it is somewhat easy.

    • Thanks Sweta!

      So, I checked out Swagbucks. On the one hand, it’s a neat idea. But, I have a lot of reservation about the methods needed to earn “Swagbucks”– a whole lot of my personal information is going out into the universe and that makes me uneasy. I’ll keep on checking in on it though, see if there are offers that don’t require my personal info.

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