Okay, here is the current view of my financial life.
My Income: $2000
My Budget:
Savings: $25
IRA: $50
Common Utilities: $40
Cell Phones (for 2): $84
Electricity: $110
Cable Internet: $62
Student Loan: $194
Netflix: $10
Bus Pass: $54
Groceries: $200
Extras: $200
Card 1: $500 (was 6.99 then they realized they weren't making any money so now 15.69, yuck. on ~$1500)
Card 2: $200 (11.24 on ~8500)
Card 3: $150 (11.28 on half/ 5.99 on other half ~6000)
Card 4: $100 (8.99 on ~2500)
So obviously, things changed on me. Since my 15.69 card will be paid off in December, I am not going to bother trying to replace them. They just changed the apr this month which is why Card 3 has 2 rates, instead of one. Also, 4k of this is from moving the friend out. I realized awhile back that my first budget wasn't agressive enough to deal with things that might crop up so, believe it or not, we have paid a lot of debt off even on my side of the equation.
His income: $1800
His Budget:
Rent: $700
Out to Eat: $250
Rest to credit cards. His last one is gone in December.
Come January his budget becomes, $700 to rent, $350 for miscellaneous expenses, and $800 to saving for house.
Mine switches in April, with the elimination of Card 1 and Card 4. That $600 will go to saving for a house.
I have done the calculations quite a bit and no matter which way you split it, if I want to get into a home next fall, my last two credit cards need to be paid off far less agressively. We have this lease through Feb 09 and we are going to be moving into a house of our own. Thanks to the recent fall out of the housing market, our range of $65-$100k buys a decent house close to downtown.
I know it costs interest on the credit cards to do it this way, but I am sick and tired of dealing with new landlords every 6 months to a year. Especially since each one gets progressively worse...
Oh, and what you aren't seeing in my dh's column is that he now has a 401(k) which is why his pay hasn't changed.
What is also not showing is my raise in late October and the fact that my husband has just been promoted. My raise will go straight to card 2 and 3 and his, well, we aren't sure what his will be so we will adjust when we have it. It will probably go straight to the housing fund.
My Current Budget and Outstanding Debts
September 29th, 2007 at 03:11 pm
September 29th, 2007 at 03:27 pm 1191079657
September 29th, 2007 at 04:06 pm 1191081997
October 10th, 2007 at 07:25 am 1192001106
October 10th, 2007 at 01:51 pm 1192024273