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Wednesday, August 15, 2018

May’s here so it’s time to see how I’m doing financially. Progress is slow, but steady.

April 1, 2010
Student Loan #1 $1,533.05 @4.5%
Credit Card #1 $756.01 @13.99%
Credit Card #2 $3,659.73 @13.99%
HELOC $44,117.44 @3.125%
Student Loan #2 $38,066.08 @3.3-7.5% (it’s a bunch of Grad School and Undergrad loans together)
Personal Loan $0mother - May 1st Check In
Car Note $0
Total: $88,132.31

May 1, 2010
Student Loan #1 $1,436.27 @2.48%
Credit Card #1 $662.93 @13.99%
Credit Card #2 $3,384.04 @14.25%
HELOC $43,560.28 @3.125%
Student Loan #2 $37,985.67 @3.3%-7.5% (it’s a bunch of Grad School and Undergrad loans together)
THE BED $1,446.50 at 0%
Personal Loan $0
Car Note $0
Total: $88,475.69

Savings: $2,000
Savings Goal: $3,000

Comparing against April, my balance increased by a little over $300, but I actually added the balance for my new bed onto the list. If the bed wasn’t there my balance would have fallen by over $1,000. Don’t forget, I’m now taking home less money since I took the 401K loan to pay for the house and I’m also paying mom back for the balance that I owe her. I’m also still contributing a certain portion of my paycheck towards retirement on top of my loan repayment.

Mommy received a partial monthly payment on the first and I plan on paying the balance by the end of the week. She’ll get $500 every month for 6 months and $300 in the 7th month. After that my rental income will go to bills I guess. My credit card balance will increase next month since I am paying the annual fee for the home insurance that way. The insurance company appraised it for $111K so I got a great deal! Do you remember how much I paid?

Let’s see what else? Oh, the interest rate on my credit card went up. As my balance falls they keep raising the interest. Bastards! In another time I would have used my savings to pay them off, but I know that I need an emergency fund so I’ll have to suck it up and commit to paying them off faster.

You’ll see that I have a new savings goal of $3,000. My original goal was $1,500 and I’ve surpassed that. My new goal is $3,000. I want to be able to get there by the end of July. That should be it!

I’ve joined the Yakezie challenge and added that beautiful golden badge you now see to the right. It means that I’m working with some other personal finance bloggers to increase the amount of visitors that we all get. I’ve also changed the look of the blog and added more information. Hate it? Love it? It’s a work in progress. Finally, if you haven’t noticed, I joined Twitter! Bookmark my Twitter page or follow me for great deals that I’ll post every single day. I just want this blog to focus back on me and my cheapness and have the Twitter for deals and special things that you might need to pay attention to. See ya next month!

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This messy little blog was all my doing. I started this blog four years ago as a way of keeping myself accountable to my own debt reduction plans. Now I'm using this blog to help others get out of debt as well. Consider subscribing to get more delicious posts like this at least twice per week.


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