Hi everyone
I promised to update you on my progress and I am so excited but before I give you the results I need to make some adjustments to my original debt:
My starting debt is:
Credit Card: $ 20000 - Adjusted: $ 20 665
Credit Card 2: $9000 - Adjusted: $ 9 000
Personal Loan: $8350 - Adjusted: $ 8 335
Car Loan: $20000 - Adjusted: $ 20 000
Mortgage: $135000 - Adjusted: $ 132 250
Business Loan: $ 45165 - Adjusted: $ 45 165
Forgot to list the following Debts:
Pool Renovations $ 3 335
Dad (Cash Loan) $ 617
Time share Levy Due $ 1 250
School Fees for 2005 $ 1 835
Family Loan $ 2 708
Savings: (oh this is the funniest)
Savings Account (HA HA HA) $ 104
Cash in Envelope $ 123
Holiday Savings $ 12
So Starting Debt Total: $ 245 160
Now for the update:
So the changes are
Credit Card: $ 20 665 now $ 18 396
Credit Card 2: $ 9 000 now $ 8 340
Personal Loan: $ 8 335 now $ 8 165
Car Loan: $ 20 000 now $ 17 824
Mortgage: $ 132 250 now $ 132 166
Business Loan: $ 45 165 now $ 45 165
Pool Renovations $ 3 335 still $ 3 335
Dad (Cash Loan) $ 617 now $ 317
Time share Levy Due $ 1 250 now $ 525
School Fees for 2005 $ 1 835 now $ 1 308
Family Loan $ 2 708 now $ 2 420
Savings:
Savings Account $ 104 now $ 938
Cash in Envelope $ 123 now $ 133
Holiday Savings $12 still $ 12
Starting Debt Total: $ 245 160 Now: $ 236 901
DEBT REDUCTION OF $ 8259 in one month - I am completely blown away.
When I look back on the month it really wasn't that hard, and there are still many areas I can improve on.
Now the only thing that has still to come in - but I am putting it into next months expenses is my car repair. Will know tomorrow how much it is going to cost.
All I have to do is stay focused and keep working on my business so that I can get that bonus at the end of June.
This weekend I have some sewing to do and hoping for some no spend days.
Today I spent:
Dentist for Emma: $30 (really bad toothache turned out to be teething - her 5 year old molars)
Emma Allowance: $ 3
Sodas: $ 6
Then of course I paid all my bills so that I could see exactly where I am for June:
Groceries: $ 215
Dog Food: $ 65
Gas for Heater: $15
Gas for Car: $50
Cash (the small things): $50
This is a going to be a real challenge BUT when you commit to something in this journal it seems so much more of a commitment rather than "lets try".
Goals for June: (listed yesterday)
20 no spend days
NO internet shopping
Earn an extra $500 by sewing in the evenings
Reduce cc debt by another $3000
Achieve sales target so that I can earn $1500 bonus
Okay well that is it for today - will check in again tomorrow
Take care
Bronwyn
I have made progress
May 27th, 2005 at 04:10 pm
May 27th, 2005 at 07:37 pm 1117219076