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Archive for May, 2014

Oops... another forgotten expense

May 29th, 2014 at 01:41 pm

So personal property taxes are one of those things that I always seem to be forget about until I get the bill in May - and it is a HUGE expense due June 5th. Plus this year we got a new minivan, so the taxes are even higher. So between the vehicles and our pop-up camper, I have to pay $1100 in personal property taxes. Since I would have used that money to keep paying down my Chase card, I'm just going to put the taxes on the card to get the cash back and then pay it. But I've been paying down about $1400-$1500 a month on my credit card debt, so this month I will pretty much make no progress Frown I guess at least I won't be going backwards!

Now I have to make sure I remember this bill for the future and plan for it ahead of time (although on the bright side, it goes down year after year as the value of the vehicles decrease.)

I'll get there!

It's the little things...

May 18th, 2014 at 02:18 am

So I've taken control of both my weight and my finances... somehow, taking control of one area of your life makes you realize you can control a lot of it, and all good things spiral from there! So my co-workers at my 2nd job ordered out lunch today to celebrate the graduation of one of our students. Instead of joining them, I stuck to what I brought from home (a chicken lasagna that I had thrown together from leftovers and frozen) and saved myself both money and calories. I've lost a pound in 3 days and paid off another $1200 in debt with Friday's paycheck Smile Can't get better motivation than that!

First blog ever - thanks for joining me!

May 14th, 2014 at 04:04 pm

So about 4 months ago I added up al of my credit card balances (5 of them) and the number was SOOO much bigger than I thought it was - to the tune of nearly $75,000. I don't even know how it got that bad. DH and I have great jobs, a nice house, drive nice cars, and have 2 beautiful little boys. We never had any problem paying the minimum payments on our credit cards and still covering the rest of our bills. Until one month my daycare payment didn't go through because I didn't have enough credit available (it gets charged to one of my cards so I can get the cash back). For several months I had to ask our daycare provider to wait a week to charge me, or to lower the amount and only pay what I could. Luckily for me the woman is an angel and has no problem that I am $3500 behind on payments now. She told me to pay everyone who is charging me interest first and worry about her later.

So after I added up my credit card debt and picked myself up off the floor, I knew things had to change. I got a 2nd job where I bring in an extra $700 a month on average. I have started couponing like crazy and have drastically cut our grocery bill (almost in half!) I lowered our cell phone plan, saving $20 a month. I have sold tons of stuff on mom's groups on Facebook and on Ebay.

I am doing the "debt avalanche" with the extra money and have paid off nearly $5000 of credit card debt in 4 months. I finally feel like this isn't hopeless and there is an end in sight. Estimated payoff date for all my credit debt is fall of 2017, which doesn't seem so far away!

Of note, this is just the credit card debt! I still have a pop-up camper payment, student loans (at extremely low interest rates, thank goodness), 2 car payments, and a mortgage. But by the time I have the credit cards paid off, I will have so much "extra" money that the camper will be paid off in a matter of a couple of months, and the cars will be almost paid off by then as well.

So I am here to be an example to any of you who have debt above and beyond what most people consider a "huge" amount of debt. So welcome and thanks for joining me as I chronicle my progress!