The Ugly Truth
- Personal Loan: -$21,600
- Credit Card 1: -$6,680
- Credit Card 2: -$8,657
- Credit Card 3: -$5,597
- Credit Card 4: -$11,000
- Credit Card 5: (paid in full)
- Credit Card 6: -$900 So close!
- Credit Card 7: (paid in full)
- Emergency Fund: +$2,010 – Sorted!
- Car Fund (Maintenance & Registration): +$252
- Short Term Goal Fund: +$1,004 (Current goal is new bedroom furniture)
- Home Deposit Fund ($60,000 Goal): +$1,004
- UK Tour Fund ($10,000 Goal): +$502
Debt reduced from last month: +$3,646 – check it out!
Debt reduced from Sep 2007: +$2,338 – YAY!
Now you may not have noticed but there’s a dramatic change to my numbers this month, in more ways than one. Who doesn't love an annual bonus?
First, I'm back under $56,772 (the amount of debt I had when I started this blog). Woohoo!
Second, and more importantly (to me anyway), I’m no longer reporting my debt total by including my Emergency, Car and Short Term goal amounts in the final number, and it’s still less than when I started, plus there’s money in the bank! If I did run the numbers using the old way, the numbers would look even better still, but wouldn't be clearly outlining my situation.
I have $4,772 in available cash should I need it, but it’s all allocated for a purpose (other than the emergency fund of course), so I don’t think it will be going anywhere other than where it’s supposed to.
I’m really re-energised about improving my finances after making such a dent this month, my next target is that pesky $900 on Credit Card 6, I want it gone by August 1. I did waver about making a double payment on my personal loan this month, but it’s got the highest interest rate so felt it was worth waiting the extra month to pay off Credit Card 6.
Roll on payday – and my payrise!