Monday, 1 September 2008

The Ugly Truth - Day 367

The Ugly Truth


  • Personal Loan: -$20,750
  • Credit Card 1: -$6,287
  • Credit Card 2: -$8,382
  • Credit Card 3: -$5,297
  • Credit Card 4: -$10,988
  • Credit Card 5: (paid in full)
  • Credit Card 6: (paid in full)
  • Credit Card 7: (paid in full)


  • Emergency Fund: +$2,012
  • Car Fund (Maintenance & Registration): +$1
  • Short Term Goal Fund: +$1,006 (Current goal is new bedroom furniture)
  • Home Deposit Fund ($60,000 Goal): +$1,000
  • UK Tour Fund ($10,000 Goal): +$500

Total: -$51,704
Debt reduced from last month: +$1,318
Debt reduced from Sep 2007: +$5,068

Not a bad month all up, a smidge over $1300 of my debt reduced. Had a few expenses here and there, I did find myself spending a lot more freely than I have over the last few months though, lunches and dinners out, bought a couple of trashy novels and things like that, which showed in my lack of Goal & Travel fund increases. I need to tighten back up on this.

The limit increase has come through on Credit Card 4, so I’ll arrange to have the balance of Credit Card 3 transferred over to it as soon as they can. I’d like to see if I can get Card 1 & 2 combined somehow too, to reduce the total number of cards I still have and the number of monthly bills I’m actually paying.

Goals for September:

  • Get Personal loan under $20,000
  • Get total credit card debt under $30,000

This means I’ll hit the major milestone of my debt being under $50,000, which will be a great feeling!

This also marks the end of my first year of my blog & debt reduction plan, which I’ll post about separately.

Roll on payday.

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1 comment:

  1. Way to go! That is a great number. I also find it really impressive that despite the set backs you kept on going and managed to finish up really well!