May 23rd, 2014 at 08:25 pm
I would normally post my whole monthly expenses and income but it is always fluctuating. I get paid weekly and my fiance gets monthly commission. Plus our expenses are always fluctuating because of the extra income. I do budget about 6 months in advance so I have a plan. Basically without having to post so much detail about my budget, my total debt will look like this:
Now: $67,396
9/1/14: $62,832
1/1/15: $55,570
SO I can have $4,500 paid off in 3 months, and a total of about $12,000 paid off by the end of the year. At that point we should get a good tax return soon and also have extra money each month to pay toward more debt or to create an emergency savings. I actually think along the way I would like to build up at least $1,000 in an EF. What do you guys think?
Posted in
Budgeting,
Credit Cards,
Debt,
Personal Finance,
Saving Money
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11 Comments »
May 22nd, 2014 at 04:57 am
Hi guys. This is my plan to pay off all my debt and to create a savings for me and my family. I have 2 young boys, 3 and 1, and a fiance. We are both in our mid twenties and we have put ourselves in quite some debt. We just bought a house and currently have a lot of monthly expenses. I will use this blog as a motivation to get out of debt, and to also create a savings for us. Here is a list of all our debts:
Debt:
Kays CC ---------392
WF CC-----------595
Lowes CC---------710
Walmart CC-------947
GE Capital CC-----1152
Cap 1 CC---------1298
Collection--------1320
Student Loan #1---2213
Court Fees--------2492
Care CC----------3495
Car 1------------9672
Car 2------------21605
Student Loan #2---21500
Total:------------67,391
Savings:
401k--------4,500
EF-----------0
Total:--------4,500
I will post my monthly income/expenses and any money that went to debt and will keep track month to month. For now I will pay off debt and will try to sell stuff to get more money into an Emergency Fund. Thank you to all who is looking and coming onboard!
Posted in
Budgeting,
Credit Cards,
Debt,
Personal Finance,
Saving Money
|
15 Comments »