The Ugly Truth
- Personal Loan: -$22,750
- Credit Card 1: -$7,000
- Credit Card 2: -$9134
- Credit Card 3: -$5,970
- Credit Card 4: -$11,351
- Credit Card 5: (paid in full)
- Credit Card 6: -$3,860
- Credit Card 7: (paid in full)
- Emergency Fund: +$1,508
- Goal Fund: +$351
- Car Fund (Maintenance & Registration): +$126
Debt reduced from last month: +721
Debt reduced from Sep 2007: -$1,308
May was an expensive month.
I had car registration, pink slip and green slip to pay, which came to just under $1000 – that included the two new front tyres required to get my pink slip, which wiped out my Car Fund and then some. I’m determined to prepare better for these expenses for next year so I’m adding $125 to the car fund each month to cover those expenses next year, plus servicing and my NRMA membership as required. I just want to have the cash on hand as the expenses come in throughout the year.
I've also added a Goal Fund to have money to buy those bigger ticket items as they come in, I really need a new bed for example, so that has to be saved up for, not charged to a card.
Still knocked a smidge over $700 off the total of my debts though, the seemingly ever increasing interest rates on my cards are killing me! Looks like my prediction of being back under my original debt of $56,772 by June was accurate though.
Roll on payday.