A Factory Working, College Grad Getting Out of Debt

May 2013 Bill Breakdown

April was a really slow month for income.  I was pretty much only living on unemployment as both Amazon and Ebay have slowed down to a near crawl or nonexistent respectively. I’d love to see these two pieces of my income start to pick up again, but I was anticipating the blow, which is a BIG reason I’ve been playing it safe with limited budgets since January.

Car loan: $2,731.18 I’m going to keep the low payment in order to continue the ability of paying off part of my student loans… so this month’s payment will once again be the small amount of $261.00.

Credit Cards: So I’ve said goodbye to two credit cards since I started this, and I also recently found another grey charge and cancelled it from one of my credit cards.  I’m hoping I’ll see reflected in the statement next month, but I’m sure it was a little two late when I cancelled for it to be shaved off the bill this month.  Either way, I’m happy I saw it.

  • Solidarity Visa: $2462.12  Minimum payment: $30.00. This month’s payment will be $32.12.
  • Chase: $1317.86  Minimum payment: $28.00.  This month’s payment will be $30.86.
  • Pay Pal Bill Me Later: $1795.23  Minimum payment: $49.00. This month’s payment will be $49.23. 
  • Amazon Store Card: $798.00  Minimum payment: $35.00. This month’s payment will be $43.00.
  • DressBarn Store Card: $370.94  Minimum payment: $25.00.This is still the card that I am now working on eliminating, so this month’s payment will be $65.94.

Total Credit Debt: $6,744.15   Total Payments: $221.15.

This is compared to last month’s credit debt of $6,928.49 and total payments of:  $265.74, which means my debt went down $184.34!  Yay!  You may have noticed that my payment total went down this month.  This is because I am actually putting an additional $30 into my smallest student loan.  I want to pay off as much of that loan as possible before it gets out of deferment, that way, my minimum payment on that will be virtually nonexistent, or at least I’m hoping.

Student Loans:

ECSI: $550.00  Still in grace period.  However, I am going to be putting a payment of $80 on it.  With the fees, that will equal $81.95.

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:

None thankfully.

Complete Total Debt: $28,888.07 Total Payments: $564.10

This is compared to last month’s $29,369.86 debt total and $578.69 in payments.  That means in total I have decreased my overall debt by $481.79!  That’s even an additional $80 in comparison to last month’s decrease! Huzzah! I’m happy! I wonder how well I’ll be able to follow my $100 budget this month.  I’m still looking for a job, but I’m hoping things will pick up via my ebay and amazon sales this month to make up for some the strain on cash I sense I’m going to be feeling here soon as June gets closer and car insurance is due.

Please let it rain!

DecMeadow

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