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Archive for March, 2017

3 years later.....worse off than when I started

March 20th, 2017 at 12:58 am

Hi everyone. I am 27 years old with a wife and 2, almost 3 kids. I have lived the last 7 years spending money and making sure I make all my payments, without saving a dime. I have a total of 117K in debt. I am finally ready to save money and pay my debt off. Please join me in my journey to pay off my debt and save money for my family's future.

Here is my current situation.

03/19/17:
Current Savings: $0

Current 401K: $0

Current Debt:
46,359 - Student Loan (Mine)
41,978 - Car #1
14,040 - Car #2
5,256/6,000 - Walmart CC
3,724/3,800 - Capital One CC (Mine)
1,215/2,900 - Lowes CC
1,079/5,000 - GE Capital CC
973 - Old Court Fine
786 - Student Loan (Wife's)
578/600 - Wells Fargo CC
498/500 - Teamsters CC
192/300 - Bank of America CC
160/500 - Kohls CC
110/4,900 - Care Credit C
94/200 - Capital One CC (Wife's)

Upcoming Bills:
600 - Taxes
100 - Filing for taxes

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Monthly Bills:

750 - Rent
560 - Car #1
330 - Car Insurance
320 - Car #2
300 - Gas
300 - Groceries
250 - Phones
150 - Walmart CC
120 - Electric
100 - Lowes CC
100 - GE Capital CC
87 - Life Insurance
80 - Capital One CC #2
80 - Water
50 - Student Loan #1
45 - Tanning
30 - Bank of America CC
30 - Care Credit CC
30 - Capital One CC #1
30 - Wells Fargo CC
30 - Kohls CC
30 - Teamsters CC
30 - Trash
20 - Gym
20 - Oil Changes
20 - Old Court Fine
12 - Netflix
11 - Ipsy Subscription

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Current Month (March):

1,590 - Current money
1,500 - Forecasted income for rest of the month
3,090 - Total money for current month

2,010 - Total bills left for current month

1,080 - EXTRA Money this month.

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I plan on spending the 1,084 on filing taxes (100) and the rest to an emergency fund (980). I will keep you updated!