Friday, 1 February 2008

The Ugly Truth – Day 95

The Ugly Truth

  • Personal Loan - $24187
  • Credit Card 1 - $7125
  • Credit Card 2 - $7293
  • Credit Card 3 - $6318
  • Credit Card 4 - $12033
  • Credit Card 5 - (paid in full)
  • Credit Card 6 - $3998
  • Credit Card 7 - $882
  • Emergency Fund - $0
  • Savings - $0

Total = $61,836
Debt reduced from last month = -$5969
Debt reduced from Sep 2007 = -$5064

I’m really feeling two steps forward, three steps back at the moment.

December and January were incredibly costly with the moving costs topping out at over $5000 once I factored in bond/rent (I essentially paid 12 weeks rent in January and the rent on my old place); plus the car repairs at $730 destroying my fledgling emergency fund and debt snowball for January. Credit card #4 was also a bit of a shock to be honest, I didn't think I'd used it as much as I obviously have. Ouch

I haven’t got my bond back as yet from my old place, which doesn’t help my numbers of course, I’m expecting it in the next two weeks which will make a decent impact for next month.

February has been decreed ‘Frugal February’ for me, I’m determined to get my numbers down as much as possible. I really want to get Card #7 cleared, the interest rate is 18.75%. I wasn’t able to get its entire balance transferred over to Card #1 as they can only transfer up to 95%.

Roll on payday.

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  1. Good luck, I am sure Feburary will be better than January. My Aussie Pf blog - - is more around investing etc, and January was a horrible month for me as well.

    Just discovered your blog - I like it and will add it to my blogroll.


  2. I'm also having a frugal February. I'm trying to make back the amount that I have to take from my down payment account...I'm also going to have $0 in my EF....good luck paying down your credit card debt.

  3. definitly a frugal february for me too. I'm also a bit tired of having the EF wiped out with unexpected events. It's hard to build it up and pay also pay off the debts when 'stuff' keeps happening.

  4. I'm sorry to here about the expensive Dec. and Jan. that you've had. I hope that your Feb. is much better.

  5. welcome Andy! Thanks for adding me too.

    Savingdiva & louise - good to know I'm not the only one being frugal this month!

    JW, thanks for your good wishes, I'm hoping for a better result myself!

  6. God, how do we get ourselves in these messes? and who lends us money? I can't beleive we can get ourselves into this much debt. And dont you HATE having to look after it all yourself. I wish we could swap finances anf look after each others for a while! hehe