Thursday, 9 October 2008

The Ugly Truth – Day 405


  • Personal Loan: -$20,320
  • Credit Card 1: -$6,223
  • Credit Card 2: -$9,938
  • Credit Card 3: -$5,125
  • Credit Card 4: -$10,763
  • Credit Card 5: (paid in full)
  • Credit Card 6: (paid in full)
  • Credit Card 7: (paid in full)


  • Emergency Fund: +$2,000
  • Car Fund (Maintenance & Registration): +$125
  • Short Term Goal Fund: +$1,135 (Current goal is new bedroom furniture)
  • Home Deposit Fund ($60,000 Goal): +$1,000
  • UK Tour Fund ($10,000 Goal): +$500

Total: -$52,369
Debt reduced from last month: -$665
Debt reduced from Sep 2007: +$4,403

Ouch, that’s not good is it? I've gone backwards $665 debtwise this month, due to overspending on Credit Card 2. I did have some things I had to buy, but had no idea I’d spent that much. I’ll have to go through my statement & find out where it’s all gone to.

I also spent a week in Canberra looking after my nephew, so there were extra petrol costs & added expenses from enjoying myself and taking him places.

It may also have something to do with completing my update 9 days later than usual; my accounts have accrued their new interest for the month already I’m thinking? Not to worry though, it’s onward & upward from here.

I need to send off my balance transfer to move the balance from Credit Card 3 to Credit Card 4, which has a lower interest rate. I also got another Credit Card with a $5000 limit & 6.99% for the life of balance transfers, so will be moving as much as possible from Credit Card 2 to it as soon as I can.

I was actually hoping to get under the $50,000 mark this month, I’ll have to wait until at least the November update now. I expect that to be a better news story, as my personal loan will also drop below $20,000, which is another of my 2008 financial goals achieved.

Roll on payday.

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  1. New to your site - but very interesting indeed!

    Why don't you track your net worth on

  2. I had to keep track of all my receipts before I knew where our money was going.

  3. Momstart, I think that's a really good idea, I'm going to start doing that right now as it's payday today and I have't spent anything yet!