I just got done with my end of the month report. I have put the whole home purchase business of hold for now. My report for August only contains information related to my new PF goals.
I have changed some of my due dates.
As you can see my credit card debt increased by a lot. I have no excuses and I won't even elaborate on how it increased so much. All I know is that it ain't getting any higher than this and I am taking action. I am happy that I am so close to my initial emergency fund goal. Once I hit the $3000 mark this September, I will move my goal out to $10K. @ that rate of $200 a month I should reach that goal in 35 months from September. But I have bonuses, extra income, my tax refunds, and raises to take into consideration during that time so I know I will reach the goal way before 35 month.
I also redid my budget. I think this is the first time I have done a real budget. I am pretty proud of myself. I went ahead and budgeted in groceries and gas, something I did not do on my past budget. I had always used my extra income to pay those. But since that income is not guaranteed I decided to budget myself some money for those items and use any extra income that does come my way towards my credit card debt.
As you can see I am allotting $205 towards my credit card debt on top of paying my minimum payments. At this rate alone it would take me 31 months to pay off my total cc debt. But with me applying majority of my bonuses, tax refund, and extra income, I will definitely get this paid off way before 31 months. I have currently set a goal of October 2008 to be cc debt free. I just need to make sure I don't charge ANYTHING more to my credit cards.
I have changed some of my due dates.
As you can see my credit card debt increased by a lot. I have no excuses and I won't even elaborate on how it increased so much. All I know is that it ain't getting any higher than this and I am taking action. I am happy that I am so close to my initial emergency fund goal. Once I hit the $3000 mark this September, I will move my goal out to $10K. @ that rate of $200 a month I should reach that goal in 35 months from September. But I have bonuses, extra income, my tax refunds, and raises to take into consideration during that time so I know I will reach the goal way before 35 month.
I also redid my budget. I think this is the first time I have done a real budget. I am pretty proud of myself. I went ahead and budgeted in groceries and gas, something I did not do on my past budget. I had always used my extra income to pay those. But since that income is not guaranteed I decided to budget myself some money for those items and use any extra income that does come my way towards my credit card debt.
As you can see I am allotting $205 towards my credit card debt on top of paying my minimum payments. At this rate alone it would take me 31 months to pay off my total cc debt. But with me applying majority of my bonuses, tax refund, and extra income, I will definitely get this paid off way before 31 months. I have currently set a goal of October 2008 to be cc debt free. I just need to make sure I don't charge ANYTHING more to my credit cards.
Comments
Thanks hon.
@ single ma
That would fall under miscellaneous. Though I am trying to keep all my fun "free". LOL. With my previous budgets, I kept track of my expenses but never did a side-by-side comparison at the end of the month. That is my goal with my newly revised budget.