Tuesday, 4 December 2007

The Ugly Truth – Day 95

The Ugly Truth

  • Personal Loan - $23123
  • Credit Card 1 - $4950
  • Credit Card2 - $7499
  • Credit Card 3 - $6398
  • Credit Card 4 - $7429 (work expenses to be reimbursed off this one this week)
  • Credit Card 5 - (paid in full)
  • Credit Card 6 - $3925
  • Credit Card 7 - $2993
  • Emergency Fund - $450
  • Savings - $0

Total = $55,867
Debt reduced from last month = $1090
Debt reduced from Sep 2007 = $905

November undid the mess of October, but finding out I have to move before the end of January 2008 meant less to snowball onto debts as I’ll need it for moving costs. I’m still in front though at the moment, which is great news.

I switch to monthly pay from December 1, so this will be a true test of my budgeting powers, especially with double rent to be paid for at least some time when I find a new place.

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  1. how are you going to snow ball it, by the smallest amount on the card or by the interest rate?

  2. I'm snowballing by the lowest amount on the cards as I have so many debts it's best for me personally to eliminate a card whenever I can rather than waiting 3 years for anything to drop off the list.

    Credit card #7 is the focus card at the moment, it also has the highest interest rate too by conincidence!

  3. Put all extra cash for the move. Moving is expensive. Ugh. Eating out more, etc.

  4. Good luck with the apartment hunting, as someone who recently moved herself I feel your pain! Keep up the good work though, you sound like you have it all under control though and even though it might be a tight squeeze for a few months you will manage, do the packed lunch for work, the buy one get one frees at the supermarket and cut back where you can, it all adds up!

  5. @living almost large - welcome & thanks for the advice! I figure if I pay even a $10 snkowflake on my focus card at the end of this month I'll be happy (over and above the minimums of course)

    @singlebrokefemale - isn't moving awful? I know I'm procrastinating on doing a lot that needs to be done around here too, but I'm hoping the money side of things will at least be OK.