Debt other than mortgage: 10,371.53 :( It will take me 12-15 months to finish off all this debt, but I will be saving towards other goals along the way, which is important to me so I can stay motivated.
That is a huge amount of debt considering my monthly take home is 3081$. When I think that I have basically enslaved myself for over three months of labor, it is so intimidating and embarrassing and just upsetting in general.
My plan to repay this is by setting up an automatic payment system which will go from my main bank account to some savings accounts. The auto save will begin on March 31st, so it will pull from my April spending. It feels like forever, but I am trying to absorb an insurance bill this month and next because I did not plan or save for something that I fully knew was coming up. Totally irresponsible and foolish, considering that I was fine buying appliances and ELFA shelving all the time knowing I would be in a pickle.
So here I am in my pickle, and this is my budget breakdown for February-July. My husband and I have separate bills we pay, so I don't have to worry about the mortgage, gas, or anything car related except for the insurance.
My goal is to update this to the actual spending, but I am so determined to turn this ship around and STICK TO THIS BUDGET!
February-
Tuition and childcare 675$
Utilities 300$
Cell and Internet 105$
Food, Toiletries, and Household 400$
Remainder of insurance bill 1,568.53$
Min Lowes Payment 45$
March-
Tuition and childcare 575$
Utilities 300$
Cell and Internet 105$
Cleaner 70$ :)
Food, Toiletries, and Household 500$
Restaurants 70$
Emergency Fund Savings 386$
Vacation Savings 100$
Debt Repayment Savings 600$
Dentist Visits 300$
Min Lowes Payment 45$
April and May-
Tuition and childcare 700$
Utilities 250$
Cell and Internet 105$
Cleaner 70$ :)
Food, Toiletries, and Household 500$
Restaurants 100$
Min Lowes Payment 45$
Debt repayment 667$
Vacation Savings 300$
Insurance bills 12/2014 150$
Emergency Fund 100$
Home Renovation Fund 50$
New Car Fund 50$
June -
Tuition and childcare 125$
Utilities 320$
Cell and Internet 105$
Cleaner 70$ :)
Food, Toiletries, and Household 500$
Restaurants 100$
Min Lowes Payment 45$
Back to School Savings 500$
Debt repayment 667$
Vacation Savings 300$
Insurance bills 12/2014 150$
Emergency Fund 100$
Home Renovation Fund 50$
New Car Fund 50$
July-
Tuition and childcare 0$
Utilities 320$
Cell and Internet 105$
Cleaner 70$ :)
Food, Toiletries, and Household 500$
Restaurants 100$
Back to School Savings 0$
Debt repayment 800$
Vacation Savings 836$
Insurance bills 12/2014 150$
Emergency Fund 100$
Home Renovation Fund 50$
New Car Fund 50$
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