Friday, July 1, 2011

Financially Fit Friday

Have you started a money makeover?  What are you planning on paying CASH for?  What bill are you paying off?  Share a bit of your story!  No story is too small to share!  Real life stories keep Sister C motivated :D

Emergency Fund - Stocked

Indiana Fund (Goal is $500)
  • We won't be stocking this fund again for a few months.  Grandpa will be visiting us instead.  Current balance is 0.

Colorado Fund (Goal is $250) - I leave August 15th!
  • Deposited $15 Fun Money
  • Total - $81.77
    • Man, this is slooooowly adding up.  I hope I have enough fun money to spend! 

Credit Card Beginning Balance 4/29/11 - $6031.08

  • Deposited $6.25 in spare change
  • Deposited $105 in leftover income
  • Deposited $652 in leftover Vehicle Fund money
  • Interest accumulated - + $91.64 Ick.  I noticed this has only gone down by $2 since last month.  I think I'm going to call the bank and find out why.  That doesn't seem right.
  • Current Balance - $4435.85
    • It has now been two months since we started knocking down this debt.  We've paid off just shy of $1600!  Not bad for a family of six on two part-time incomes!  Although both of us may be full-time here very shortly!  :D 
     *If you follow Dave Ramsey, he says no matter what to pay down your next lowest balance.  This is not our next lowest balance, but it's our highest interest rate one.  Now that we've paid off so many loans in the last 2 years, we believe this is a better route to go, where as our other loans have such a small interest rate on them, this is by far the worst "loan" we have.  So,  Ready...Set...GO!

1 comment:

  1. You're doing awesome! I did a no-no and switched all card balances at the end of last year to a new (stupid!) credit card with a 0% rate for 15 months. BUT I figured out how much we have to pay each month and have been paying that or more. When it is paid off, I can double up my car payment and have both paid off by the end of 2012!