Quick Update!

It’s been a hectic past couple of weeks- we were packing, moving, and unpacking our new home!! Super excited, larger than our last home, the pets are enjoying it (for the most part), and we will have more space for our future family (no, not pregnant yet).

John ask for a quick update on CC2. The simple answer, John, is no, CC2 is not at zero yet. Because I get cash back, I used the credit card to pay for the movers. But, I get paycheck from both my old job and new job this week (get paid weekly with the new job, woot woot!), and I’ve barely spent any of the last paycheck, so I hope to have an affirmative answer to this by Friday! Also have a check from Ebates (just going to drop that referral link right here again) and have to deposit that. Only $20, but in this game every little bit counts.

After I get settled in, I’ll let you all know more about the move and how this changes the financial landscape and ability to pay my debts down going forward.

Hope you all have a happy week!

Ace in the Hole

My ace in the hole came through! I didn’t get as much cash as I expected, but I did get enough to pay off all but $300 of CC2!

That brings me to:

CC1: $1104

CC2: $300

And CC2 will probably be zero by the end of the week, after I’ve had a chance to balance the budget.

If I don’t have the entirety of my credit card debt paid off by December, then I’m doing something majorly wrong. I’ve barely spent money, I just pay, pay, pay as money rolls in to the credit cards, and soon I will be commanding a higher salary. I’ve also taken on some private lessons and I will be shortly leaving for a babysitting gig. These credit cards do not stand a chance! I just need to keep my focus, especially with the prospect of furnishing a house coming just around the corner. We are trying to come up with a plan on furnishing our home that won’t break the bank but still get nice, sturdy pieces that will last us a long time.

Another Website

Salt put me on to another website in the debt pay down realm- SaveUp. It easily linked to ALL of my accounts, no problem, within minutes. It also gives you credits for saving and paying down debt which you can use towards entering in for prizes (certificates of deposit, cash, jackpots, loan payments, vacations, etc.). I love the concept, it is already high on my list since it was so easy to link my accounts and if I actually do win some prizes, even better!

Why do I keep on endorsing these sites? Because as much as I like the idea of making a personal budget and forcing myself to spend in a certain way, it just doesn’t happen. These sites allow me to see EVERYTHING in one picture, so if you’re like me, you always need new tools to discover and help you in fighting your debt. Someday I’ll develop a true sense of self-discipline and create a beautiful spreadsheet of expenditures, but it hasn’t happened yet and until I do, I like these websites that help out!

 

And, by the way, HAPPY HALLOWEEN!

August Check-In

Let’s get the big business out of the way:

CC1: $584.88

CC2: $4902.95

Student Loan (Just for the sake of reference): $75118.59

These are all as of August 1st.

Obviously, I had one slight decrease and one major increase. Upon discussion with my husband, there was something a little pricey he wanted me to buy for myself and that increase on CC2 is the result. I had to take the opportunity to buy it while the market on such things had cooled down and I made sure I was getting the best price possible. I had paid down CC1 a bit, but an event and one other small purchase negated some of that pay down.

But, like I had mentioned previously, August is a three paycheck month. I WILL be paying off CC1 and CC2 will be brought back down easily barring any disasters (knock on wood). I did get my raise, but it’s only an additional $1 per hour, so while I was pretty disappointed that I didn’t get a better raise, I can’t complain too much because at least it’s something. And my health insurance is officially canceled, so if I don’t defer more money on my 401(k), I will be making approximately $990 per paycheck. I do plan on increasing my 401(k) contribution from 3% to 5% though in September after I get back to my part-time job, so I’ll expect around $975 per paycheck.

There is one other possibility afoot. If I don’t hear anything by the end of the week, I’ll expect she didn’t get it again, but I sent my ace-in-the-hole further information she is requiring and if I don’t hear anything by Friday, I’ll call to check if she got it. If I get as much as I’m hoping/expecting, if anything, credit card debt will be GONE. Even if I don’t get as much, it will go directly to the debt regardless. I’m hoping it will be finally resolved by the end of August, not just for the money but other personal reasons as well (if you can’t tell, I try to run this blog with some degree of anonymity, so I won’t get into specifics here).

 

The Goals

The financial goals for August are as follows:

  1. Payoff CC1
  2. Get CC2 down to $4k
  3. Just pay the ICR amount ($300) to the student loan.

What are your financial goals this month?

 

Requested Wedding Budget

A reader requested a breakdown of what we ended up spending on the wedding. I’m going to get that into the works soon, and I going to approach it in such a way to give you an idea of the distorted reality people have about the costs of such an event. I also have two post-wedding associated “things” I need to do first before I can put it together. I feel they are pertinent, often overlooked expenses that are in fact associated with weddings and should be on the final budget, so it may be a few more weeks before I can get it to you, but I will, I promise!

Well, it’s Saturday morning. I already managed not to do one thing this morning, so I need to get crackin’!

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!