I decided to get all my debts paid off. I am on a biweekly paycheck and got paid 5/30 that’s why I included May as Week 0. I am hoping to update every week, to hold myself accountable and try not to overspend on the weekends. Here goes nothing....
Below is the breakdown of the debts that I have:
Week 0: Current Debt
I added May, as previously noted, because there were a couple of payments that went towards my debt.
| Current | Paid | Remaining* | |
| Personal Loan | 9,436.00 | 396.00 | 9,040.00 |
| Student Loan | 7,246.00 | 100.00 | 7,146.00 |
| CC#1 | 6,661.00 | 50.00 | 6,611.00 |
| CC#2 | 930.00 | 100.00 | 830.00 |
| CC#3 | 217.00 | 50.00 | 167.00 |
| Total | 24,490.00 | 696.00 | 23,794.00 |
Week 0 Starting Debt $24,490 || Paid $596 || Ending Debt $23,794
I wanted to pay off CC#3 this month, but I did not budget for it this paycheck.
Weekly Spending:
I also wanted to keep a weekly $100 budget. This is what I have spent for Week 0. I start this on weekends because that when I spend A LOT.
- Saturday - n/a
- Sunday - n/a
- Monday - decided to do the weekly $100 budget
- Tuesday - $9 Lunch
- Wednesday - $7 Toll Roads
- Thursday - $20 gas | $10 Dinner
- Friday - $50 gas
Weekly Spending Start $100 || End $96 || Roll over $4
This week I used my debit card, but I took out $100 in cash last Friday to start this challenge for week 1. I hope it was as easy as the previous week.
Pending Expenses:
- June 2014 – I will be paying for a party favor $100
- July 2014 – International trip for a wedding – I will be out for 2 weeks. I am hoping to get a budget going by then so I don’t overspend. Right now, I am budgeting $600 for the two weeks I will be spending there. The flight tickets are paid and included into one of the CC and hopefully we can get lodging for free out there.
- December 2014 - Christmas! I need to start on my Christmas budget now. This year, I am thinking of allocating $300
Pending Expenses Total : $1000 || Saved up $0 || Ending $1000
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