A Factory Working, College Grad Getting Out of Debt

August 2013 Bill Breakdown

Last month was a little rough.  I ended up having to rely a little bit too much on my Paypal Bill Me Later account and that’s going to reflect on this month’s breakdown.  The reason for that story is going to be for another time, as I intend to laugh about it later, but let’s get down to business.  It’s time for a hard crack down on my finances or to figure something out for an income temporarily.

Car loan: $1,985.38 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: $2370.00  Minimum payment: $30.00. This month’s payment will be $30.00.
  • Chase: $1291.21  Minimum payment: $27.00.  This month’s payment will be $27.21.
  • Pay Pal Bill Me Later: $2,134.82  Minimum payment: $50.00. This month’s payment will be $134.82. (Used this as a means of payment for budget I had this month).
  • Amazon Store Card: $716.38  Minimum payment: $35.00. This month’s payment will be $46.38.
  • DressBarn Store Card: $205.35  Minimum payment: $25.00. This is still the card that I am now working on eliminating, so this month’s payment will be $85.35.

Total Credit Debt: $6,717.76   Total Payments: $323.26. This is compared to last month’s credit debt of $6580.04 and total payments of: $220.04, which means my debt went down $126.72.  Much better than last month’s progress that’s for sure!  Also, if you’re also peeking at that Dressbarn card, I’m getting really close to finishing that one here in the next few months.  I’m figuring probably by September.  Unless of course, I find a job by then so that I can increase that payment amount.

Student Loans:

ECSI: $346.75   Minimum payment: $42.36.  However, I am going to be putting a payment of $75 on it.  With the fees, that will equal $76.95.

Direct Loan:  $18,862.74  Currently deferred until August.  I thankfully was able to defer the Direct Loan student loan until August.

I’m pretty sure the guys at ECSI are banging their heads against the wall because I will not let them get a great amount of interest out of me.  Yes, that’s a silly mental picture, but it makes me happy every time I make a decent payment on that student loan and am that much closer to getting rid of it forever.

Other anticipated bills this month:

None, thankfully.

Complete Total Debt: $27,774.91.  Total Payments: $661.21. This is compared to last month’s $28,098.26 debt total and $558.14 in payments.  That means in total I have decreased my overall debt by $323.25!  So happy about this amount! I can’t wait to see what it’s like next month with the large payment amount I put in this month.

Please let it rain!

-DecMeadow

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s