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Posts tagged with: paying off debt

Hope’s Debt Update – March, 2019

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I have been writing here at BAD for over 5 years now! Can you believe that? I can’t!

This was my first ever post which included my first ever debt update. It was published in February, 2014. My total debt was $78,518!

And without further ado, here is my current debt load.

Creditor
Balance

(as of 10/14/17)
Interest
Min. Payment
Student Loans$34,9912.88%$0 (income based deferment)
Car$4,7737.00%$400
Credit Card$2,43417.00%$60
Collections 3 (Ex-husband)06.25%$0
Collections 2 (Apartment)$499$0
Total$42,697$460

Total Debt as of 3/13/2019 is $42,697

My last debt update is HERE if you want to compare the two, it was published in December, 2018.

I’ve got to admit, comparing my first ever debt post and today’s was a bit discouraging, especially when I compare myself to the headlines of others debt pay off journeys. But I won’t make excuses.

I do know that I have come a long way as far as mindset over the 5 years. Not to mention knowledge. And I am in a really good place as far as payoff mindset (finally, right, long time readers!)

The Plan

I haven’t put a lot of thought into my plan of action. Frankly, I haven’t had time to sit down and think about anything.

But in looking at my numbers, this is what I have in mind:

  • Pay off credit card! It’s time. The interest rate. I’m ready.
  • Pay off the non-interest bearing collection account because it’s not affecting anything but my credit at this point.
  • Pay off my car (if I stick to my $400 per month, it will be paid off in March, 2020 but it would be great if I could do it more quickly.)

In my dream world, I would love to have all three of these debts paid off by the end of the year. And I think it’s doable looking at my year as a whole.

Thoughts? Feedback?


Hope’s Actual Income and Spending – Week of 9/14

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It has been a crazy busy week. I think I could actually say that every week these days. But with the addition of my parents and sister here, a trip to Atlanta, a trip to Charlotte, Princess homecoming game and dance and preparing for History Buff’s arrival this past weekend, it was busier than usual. Oh, and did I mention I picked up a couple of extra work one-time projects.

But even with all that, I think I did good with money. What do you think?

Actual Spending - Week of 9/14

DescriptionAnticipatedActual
Income *after taxes$378$730
Gas($70)($90)
Volleyball - entrance fees($10)$0
Storm Preparedness($50)($77)
Dining Out($50)
Homecoming Football($11)
Amazon($29)
Credit Card Cash Rewards$13

Total$248$515

Notes on Spending

  • Gas – My gas was high. I had doubled my typical budgeted amount knowing that I was driving to Atlanta to pick up my mom and sister from the airport and then a couple of days letter driving my sister to Charlotte to spend time with her friend. But it wasn’t enough. But it was a good reminder of how much I am appreciating my new regular budget…1 tank of gas per week rather than 2 or 3 when Gymnast was going to gym 4-5 times a week.
  • Eating Out – we’ve been doing really well with not eating out. But Friday night Princess and I were at loose ends and we called my grandmother and mom to see if they wanted to eat out with us. We tried a new Mexican restaurant and had a great time. It was a real treat for all of us.
  • Homecoming Money – Princess paid for her football game and homecoming dance tickets, but I did give Gymnast money to get into the high school homecoming game. This was his first, and probably last high school game of the season, since he typically has gymnastics on Fridays. (I let him skip this week to have this experience.)
  • Amazon – Our restock of toilet paper came this week and it’s charged to my Amazon account. As soon as it was received, I paid it off again. I’ve had that account paid of for almost a year now. *pats self on back
  • Credit Card Rewards – I was so excited about my cash back rewards last week I had to cash these in this week. It’s fun to watch my savings account, even if it’s just a little at a time. (And I got a $10 affiliate check from Self Lender, I put it in this new savings account too.)

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