In the next month, DH and I will getting back $5k from his quarterly bonus, a holiday bonus I was eligible for, our tax refund, and a credit for some dental work I had done right before Christmas. Dear lord, we can not blow this money! This is enough to knock out a significant chunk of our debt. Our current plan is:
$5000
(271)-IR credit card-DONE as of 1/25/2012
(1950)-Pay off Chase card
(1700)-Pay off other Chase card
(500)-Savings
$579 left over. I am not sure where this will be going. We have a few small projects around the house to do, and DH is in desperate need of clothes for work. Paying off the three credit cards will free up $160, and we will be freeing up an additional $85 a month by April due to some cost cutting. That's an extra $245 a month, which is awesome and should really let us make some progress on getting this mess paid off. It seems like this is where we always mess up though. We pay off 2 or 3 cards, and then we start up with the reckless spending again. If we could just stay focused, it would only take us a year and a half to get everything paid off.
Thursday, January 19, 2012
Thursday, September 8, 2011
So Far So Good......
Mr. Kitty is doing great so far. The vet put him on a prescription food that will run us about $40 a month, but this is only $20 more than what we were currently spending (and if it keeps Mr.Kitty healthy, it's priceless). My final vet bill wound up being a few hundred less than I thought, which is absolutely awesome.
September Goal Update
1. Pay off veterinarian bills-we have about $400 left to pay-DONE as of 9/7
2. Pay off the rest of DS's hospital bill and a doctor bill of mine-about $800-this is at $500 as of 9/8
3. Put money aside for tax payment or adjust DH's withholding to compensate-DONE as of 9/8-I wound up just changing DH's withholding. It's just easier to change that than mail in an estimated payment.
I've been working really hard to make sure I get in as many hours as possible with my work and make sure I am being accountable with how I spend time during DS's naps and after he goes to bed. It's amazing how much more time you have when you cut back on message boards and online window shopping :p I mean honestly, DS sleeps 3-4 hours during the day and 11-12 hours at night. There is no excuse for me to not utilize this time wisely and be productive.
The credit cards are frozen in the freezer, and they will be staying there. I have paid the stupid things off and run them back up so many times now; it's ridiculous how much I have wasted in interest and balance transfer fees on the stupid things.
September Goal Update
1. Pay off veterinarian bills-we have about $400 left to pay-DONE as of 9/7
2. Pay off the rest of DS's hospital bill and a doctor bill of mine-about $800-this is at $500 as of 9/8
3. Put money aside for tax payment or adjust DH's withholding to compensate-DONE as of 9/8-I wound up just changing DH's withholding. It's just easier to change that than mail in an estimated payment.
I've been working really hard to make sure I get in as many hours as possible with my work and make sure I am being accountable with how I spend time during DS's naps and after he goes to bed. It's amazing how much more time you have when you cut back on message boards and online window shopping :p I mean honestly, DS sleeps 3-4 hours during the day and 11-12 hours at night. There is no excuse for me to not utilize this time wisely and be productive.
The credit cards are frozen in the freezer, and they will be staying there. I have paid the stupid things off and run them back up so many times now; it's ridiculous how much I have wasted in interest and balance transfer fees on the stupid things.
Wednesday, August 31, 2011
Financial To Do List
The past month has been rough financially, to say the least. My kitty had to see the vet several times and then have emergency surgery, to the tune of $1500! He had several cat UTIs, and then he was blocked completely, hence the emergency surgery at 1:00 AM on a Saturday night. I know some people would think I am crazy for spending that on a cat, but he (and my 3 other cats and dog) are my second babies and I will do whatever I can to keep them healthy.
September is looking like a good month, but we need to tackle a few things before we can really focus on the debt payments again.
1. Pay off veterinarian bills-we have about $400 left to pay
2. Pay off the rest of DS's hospital bill and a doctor bill of mine-about $800
3. Put money aside for tax payment or adjust DH's withholding to compensate
DH and I have talked about trying for number two around January 2013. We have a lot of work to do financially if this is going to happen. The credit card debt doesn't have to be gone completely, but we need to pay off 4 of the 6. This would cut our payments by $200 a month, which would put us in a much better position to afford a new to us car. DH's is getting close to 200K miles, but still going strong. We just need to be in a better position to be able to pay a car payment when it finally dies.
Our tentative financial schedule:
October 2011-Pay off Chase card 1
November 2011-Set aside money for the holidays and Christmas
December 2011-Pay off Chase card 2
January 2012-Pay off BOA card 1
March 2012-Pay off credit union card, Capital One card
April 2012-Start building emergency fund
September is looking like a good month, but we need to tackle a few things before we can really focus on the debt payments again.
1. Pay off veterinarian bills-we have about $400 left to pay
2. Pay off the rest of DS's hospital bill and a doctor bill of mine-about $800
3. Put money aside for tax payment or adjust DH's withholding to compensate
DH and I have talked about trying for number two around January 2013. We have a lot of work to do financially if this is going to happen. The credit card debt doesn't have to be gone completely, but we need to pay off 4 of the 6. This would cut our payments by $200 a month, which would put us in a much better position to afford a new to us car. DH's is getting close to 200K miles, but still going strong. We just need to be in a better position to be able to pay a car payment when it finally dies.
Our tentative financial schedule:
October 2011-Pay off Chase card 1
November 2011-Set aside money for the holidays and Christmas
December 2011-Pay off Chase card 2
January 2012-Pay off BOA card 1
March 2012-Pay off credit union card, Capital One card
April 2012-Start building emergency fund
Thursday, June 9, 2011
Back on track? Maybe?
I'm not going to sugarcoat it-the last few months have been an absolute disaster for us financially. I lost my highest paying contract position, which absolutely killed us financially, since the pay from this job is what we were using to pay down debt, savings, and unexpected expenses. I have other things that I do, but this one was the highest paying by far. Our credit card debt is up to $28K now, and we still have about $1K in medical bills to pay off.
I found a new contracting position that will be close the same pay as my old one, so we should get going in the right direction very soon. Baby Boy goes to bed at 7ish each night and sleeps till 7 AM, so my plan is to work 4 hours once he goes to bed, Monday-Thursday. Friday and Saturday, I will work an hour in the morning and three hours at night, and Sunday will be an hour in the morning and two hours at night. Total hours will be 27, and the pay will be around $1600 each month. I need to draw up a new budget and draft a new plan. Having some type of plan always makes me feel better, even though things rarely always go as planned!
I found a new contracting position that will be close the same pay as my old one, so we should get going in the right direction very soon. Baby Boy goes to bed at 7ish each night and sleeps till 7 AM, so my plan is to work 4 hours once he goes to bed, Monday-Thursday. Friday and Saturday, I will work an hour in the morning and three hours at night, and Sunday will be an hour in the morning and two hours at night. Total hours will be 27, and the pay will be around $1600 each month. I need to draw up a new budget and draft a new plan. Having some type of plan always makes me feel better, even though things rarely always go as planned!
Tuesday, April 12, 2011
DH's New Job
We finally got all the details about DH's new position today. He'll be making $65K, and he will be eligible for a bonus of up to 15% twice a year, depending on quality, waste, etc. for his plant. The 401K match is great, 100% up to 6% of your salary, no cap. That alone will enable us to get our retirement savings to 15 percent, which is awesome! Now, if we could just get this debt consistently going down again, I would be very happy. We've already agreed that if he does get bonuses this year, the majority will be going to debt.
I think I need to put myself on an allowance. I have guidelines of what I want/need to spend, but I don't follow them like I should. Between cute baby stuff, cute summer clothes, and eating out, I waste so much money every month:(
I think I need to put myself on an allowance. I have guidelines of what I want/need to spend, but I don't follow them like I should. Between cute baby stuff, cute summer clothes, and eating out, I waste so much money every month:(
Saturday, March 26, 2011
Time to Get With the Program
It's time to jump back on the debt pay down wagon. I have to admit, I kind of fell off the last part of 2010 and when baby boy was born. Not because baby boy was too consuming, but because one of the reasons I wanted to pay down our debt was so DH and I could have a baby. Well, we had a baby without getting it paid off, and the world didn't come to an end, so we kind of lost some of our intensity. However, I know it is in my family's best interest to get this debt gone. It will give us more flexibility in our life, and it will allow us more funds for "fun" stuff once it is all paid off.
We still have 25K in credit card debt we need to blast. I'm not sure yet when our goal is to have this paid off. DH got promoted to a supervisor position, but they have not yet negotiated salary with him. Keeping my fingers crossed it is something awesome! I'm just tracking the credit card debt now. We have student loans too, but I'm not really focused on them right now.
We still have 25K in credit card debt we need to blast. I'm not sure yet when our goal is to have this paid off. DH got promoted to a supervisor position, but they have not yet negotiated salary with him. Keeping my fingers crossed it is something awesome! I'm just tracking the credit card debt now. We have student loans too, but I'm not really focused on them right now.
| 27-Mar | |
| BOA1 | 8970 |
| BOA2 | 2100 |
| Chase1 | 1900 |
| Chase2 | 1740 |
| Citi | 10165 |
| 24875 |
Wednesday, March 2, 2011
Random Thoughts
*I love our new bed. My only regret is that we didn't spring for it sooner, like when I was pregnant and my back was KILLING me all the time.
*My hardest adjustment since having a baby? The lack of structure/definite associated with a newborn! Baby boy eats when he wants and sleeps when he wants. I know as he gets older, some trends and patterns will emerge (and they are starting to already, just not very consistent). I have found that making a list of things I want to accomplish in the morning, in the evening, and in the afternoon helps me stay organized and feel like I am sticking to some type of plan, but also allows for the flexibility needed for my baby.
* I got baby boy's 529 plan opened.
*My hardest adjustment since having a baby? The lack of structure/definite associated with a newborn! Baby boy eats when he wants and sleeps when he wants. I know as he gets older, some trends and patterns will emerge (and they are starting to already, just not very consistent). I have found that making a list of things I want to accomplish in the morning, in the evening, and in the afternoon helps me stay organized and feel like I am sticking to some type of plan, but also allows for the flexibility needed for my baby.
* I got baby boy's 529 plan opened.
Subscribe to:
Posts (Atom)