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 $20 Fun Money
• Total - $131.77

Best Buy Credit Card Beginning Balance 7/18/11 - $895

• This card has been a 0% APR, but that promotional period will end in January, 2012 and the other portion sometime next summer.  So, we're going to start making large payments on this one to get rid of it before we get all that back interest attached. 
• Deposited $195 in leftover Escrow Funds (Received an overage check from the bank!  It's been 2 years since we've gotten one of these! Too bad I have to use most of the rest to pay for two months of health insurance.)
• Deposited $13.53 in spare change
• Current Balance - $600.55

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

• Current Balance - $4,373.46
• This amount is almost $70 higher than last week.  I'm not paying anything on it until next pay check so make sure I know the ending balance once the transfer takes place.  Plus, I used the wrong account to pay a different bill, so I need to get to the other bank and get the money to pay this card.  Oops. 
• I also did a balance transfer to a new credit card.  I can NOT pay another nearly $100/mo in interest.  It was a 0% Fee 0% APR for a year.  I will be cancelling the other card after it goes through and cutting up this card once I receive it.
• I realized that I never set a date for this loan to be paid off.  If any of you do goal setting, you know this is Rule #2!  So, this loan will be paid off before Halloween - October 31, 2011! 

     *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!