A Factory Working, College Grad Getting Out of Debt

February 2013 Bills Breakdown

Well, it’s that time of the month again.  Time for the bills breakdown.  As you know I was able to cut my budget down to a measly $100 for the month.  Unfortunately, that still didn’t help my output vs. input.  In fact, I still had $130 output over my input.  And you guessed it, my savings account was hit because of it.  In lieu of that, I’m planning on trying cut a few other things back in order to make ends meet this month.  And we’re starting with the bills, as in I’m going to be a little more fiscally conservative with what goes to what this month.

Car loan: $3,467.71. Unfortunately this guy’s principle is going to have be shaved to a bare minimum of $10.  Sadly, I never would have done this unless I absolutely had to make sure that I could survive on $100 in a month, and the only way to do so is to shave some of the extra here to take care of the tiny budget for the rest of the month there.   Sucks.. but this month’s payment will be $261.00.

Credit Cards: Last month, I finished off TWO credit cards! (GO ME!) So in true “snowball” fashion, I’m continuing to do that.  However with the unemployment status and the  fact that I noticed that even with cutting my budget down to only $100 or less (not including the bills obviously), I was still outputting an extra $132 last month more than I was inputting on unemployment.  So instead of adding that additional money that I technically gained from losing the two cards into other cards, I’m going to try to keep my budget

  • Solidarity Visa: $2549.00  Minimum payment: $30.00. This month’s payment will be $30.00.
  • Chase: $1335.01  Minimum payment: $28.00.  This month’s payment will be $28.01.
  • Pay Pal Bill Me Later: $1866.16 Minimum payment: $53.00. This month’s payment will be $53.00. 
  • Amazon Store Card: $801.84  Minimum payment: $25.00. This month’s payment will be $41.84.
  • DressBarn Store Card: $446.97  Minimum payment: $48.00.This month’s payment will be $48.97.
  • Best Buy Mastercard: $179.17  Minimum payment: $15.00.This is still the card that I have been working on eliminating, so this month’s payment will be $40.17.

Total Credit Debt: $7,178.15   Total Payments: $241.99.

This is compared to last month’s credit debt of $7,323.49  and total payments of:  $300.00, which means my debt went down $145.34!  Yay!  Honestly, I’m totally excited that I only have to account for six credit card payments instead of eight.  That, perhaps, is the biggest accomplishment of all to me right now.  I’m kind of hoping that with my upcoming tax return that I will be able to get those two little ones out the way here soon if I have enough after I put away some for June’s car insurance payment.

Now that the big bills are paid off for another six months, I can once again up my payment budget.  I increased it this month to insure that not one, but two credit card balances are completely zero.  Huzzah!

Student Loans:

ECSI: $650.00  Still in grace period.  

Direct Loan:  $18,862.74  Still in grace period.  

I’m still unemployed.. So these are in the works of trying to be deferred at this time.  I’ll let you know if I succeed on that plan.

Other anticipated bills this month:

A bridesmaid dress = $175 approximately.  I’m scared to make such a huge purchase right now.

Complete Total Debt: $30,158.60   Total Payments: $601.00.

This is compared to last month’s $30,585.91 debt total and $601 in payments.  That means in total I have decreased my overall debt by $427.31!  I’m stoked!  Being unemployed has been very frustrating, but I’m excited to see that my focus on spending practically nothing has helped so much in reducing my debt!

Please let it rain!

DecMeadow

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2 responses

  1. April

    Nice Job Girl! Keep up the good work and don’t be so hard on yourself. It will all work out.

    February 8, 2013 at 8:43 am

    • Thank you for the encouragement! It’s just a little hard being chained to the household. If it were warmer I’d probably be walking to places, but since it’s been so cold lately, I just curl into a blanket and search online for any type of job lead.

      February 8, 2013 at 10:32 pm

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