Friday, April 29, 2011

2011 and 2012.

2011: The Year I Pay Off MY Debt.
2012: The Year of ME.

Dear Self,

After I get all this debt paid off I have some goals. Leave this job by June 2012 and get a job I enjoy with an organization I care about.

You have 13 paychecks in 2012, save 50% and enjoy the 50%, take a trip to some far off place with CASH.

That is all. I will do this!

I Love Paydays.

I feel much better now that I have a plan, now that I'm attacking my debt.

I know exactly where my money is going, I know that I will have my credit card paid off in 2 paychecks! I have money for gas and I even have some fun money.

I have been engulfed in my financial plan. I stare at my handy dandy debts/savings/bills/payday excel sheet all the time!

I can't wait to see where I'm at next year. I look forward to having my debt paid off.

Tuesday, April 26, 2011

Mentally Challenged.

So like I mentioned before the daughter of one of my best friend's is turning 1 in two weeks. I've been fighting the urge to splurge for her gift and I won!

I really wanted to get her earrings. I have bad skin reactions to fake earrings and her being a little one I wanted to avoid that so the only criteria in my book for her gift was that it was real gold.

I found a website that sells fine jewelry for children and there were these $85 earrings that I was dying to click and buy. But I've been telling myself the past few days that the price is just way too much! I was looking around online and remembered KMart!

I went on that website and they have a wonderful sale on earrings, plus free shipping plus $10 off your order.

I found some beautiful earrings that are real gold at a fraction of that price. It's a small feat for me.

If you didn't know my weakness is buying fairly expensive gifts for people I love. It just makes me feel good. But it's also gotten me into credit card charging trouble as well.

So I beat this challenge!

Monday, April 25, 2011

Debt Free by 2012?

That's what I'm aiming for! According to my calculations I can be DEBT FREE by the end of this year.

The rest of my paychecks for the year total about $18,992 after taxes, deductions, etc., etc. And like what I said last post I'm $13,857 in debt. Obvious answer is of course you'll be debt free by the end of the year!

I'm scared though. I hope I don't dissapoint myself.

The other crazy thing is that our 3-year contract with my company and the organization we are providing services for ends next year. We'll either be renewed another 3 years or lose our contract. Word on the streets is there is a possibility we might lose it.

I may be jobless next year. It's in my best interest to get rid of this debt.


Thursday, April 21, 2011

Updating My Blog Name! Just Kidding.

I am now officially $13,857 in debt!

Just last month on March 24, I was $14,969 in debt. I've managed to pay off a little more than $1000 off in one month.

Makes me very happy.

I also finally went to the library and checked out Dave Ramsey's Total Money Makeover. I got the audio book and listened to it in my car and at work. I've actually listened to it about 4 times now.

I especially love the first 3 chapters. So motivating.

A few events are coming up and I need to watch my spending. First of all it's Easter weekend, my best friend's daughter is turning 1 and we're celebrating a friend's birthday in Los Angeles. This equates to MONEY - MONEY - MONEY. So I have to keep my eye on the prize and watch my expenses. And of course, DO NOT USE THE CREDIT CARD! Better yet, I'll be sure to leave it at home.

Here's the breakdown of my debt:
STUDENT LOANS $11,364.00
CC $2,493.00
TOTAL: $13,857.00

Wednesday, April 13, 2011

On Hold.

I have a lot of friends who are getting engaged, married or having children. Of course it's because I am now in that 25-30 year old category, when most of this stuff happens.

I don't necessarily want to get married or have children right now, but it's all blurry and far away because I am in debt.

I really agree with a lot of PF blogs that being debt free is freeing. I don't really feel free right now.

Debt stinks, I want to get rid of debt, I want to be free and for now my life feels like it's on hold.

Monday, April 11, 2011

40 Days 40 Nights.

I forgot to mention what got this debt paying off mind-set going. I gave up using credit cards/buying new clothes for Lent.

Keeping it simple and not getting into religion, it's 40 days and 40 nights of sacrifice, prayer, penitence, almsgiving and self-evaluation before Easter.

I've done well so far, I used my credit card once for a $10 purchase and paid it off the next day.

I haven't bought any new clothes as well. I'm surviving, I'm rotating a lot of clothes I never wore, I have a good amount of work clothes as well. Just using what I got!

I also threw another $50 at my Miami/Euro trip debt, so now my credit card has a balance of $150.

Come 4/21 paycheck that thing will be officially paid off!

I'm also going to tuck that credit card in an envelope in my room and not carry that card with me anymore.

So here's my debt:
STUDENT LOANS $11,408.00
CC $2,853.00
TOTAL: $14,261.00

Thursday, April 7, 2011

4/7 Paycheck.

A big sigh of relief. I only have $200 left to pay off my Euro/Miami trip balance, this balance was $1600+ just two months ago.

It feels good! So after this $200 is paid off I can focus on my last two credit cards. I got these two cards last year because of splurges.

The first card is a Best Buy card. At least it's tangible stuff. I managed to rack up $920 buying a DSLR camera, water-proof digital camera, a XBox Kinect and two games. Although I'm happy with my two camera purchases since I use it often, I've only played the Kinect like 3 times. I'll never buy electronics or games on impulse. I'm just not a video game person and oh yeah $920 bill? No thank you.

A part of me wants to sell the Kinect. I also got a Nintendo DS like two birthdays ago that I used maybe twice. Maybe I can sell that too. I'll sit on it for awhile, but there's a likely possibility I might go that route.

The other card is a Citi card I took a 0% intro APR on till next year. This splurge was a Las Vegas trip last September, for my friends bachelorette party. The bill was $1783 in one weekend. Best girls weekend ever! So much so that I have no desire to go back to Las Vegas ever again. Okay maybe again someday, but never spending that much on a weekend ever. I could have went to Kauai, Hawaii a trip I've been wanting to go on for awhile.

I plan on spreading out my paycheck to pay both of these credit cards off between the next 5-7 paychecks. I'm more determined then ever to pay these off and not use my credit cards.

I also threw $169 at my student loans this paycheck.
And!!!!! I also cleaned house on my store credit cards. I closed my Kohl's, New York and Company and Target card.

I know it'll dent my credit score closing these account. But I still have 6 other credit cards, with large credit limits and one was opened back in 2005 as well as 2006.

It feels good to get rid of those low credit limit cards and it's kind of a freeing experience. Be gone temptation and consumer debt!

I'll update my credit card and loan numbers once everything has been processed, but all signs lead to progress!

Tuesday, April 5, 2011


I have a confession. No one really knows how in debt I am.

They know I'm in debt, but I've never fully exposed how much it actually is. Even my boyfriend of 10 years who gives me full access to his finances, finance records even bank passwords doesn't know. I tell my parents it's $2500, my boyfriend and friends $5000, but I haven't told them that I'm almost 15k in debt.

It's just such a large number.

Why don't I tell someone close to me, even just one person? I feel ashamed, guilty and most of all stupid. I make one of the higher salaries out of my friends. I also work in the financial industry, I'm on the side that advocates saving for retirement. So I tell you blog world.

I've been progressing with my debt. I haven't used my credit cards and I'm almost done paying off all my trip (Europe & Miami) debt. This paycheck I'll owe only about $480 on my trip debt. Depending on how much I have left after savings and bills I can maybe throw $230 at it making my remaining debt trip debt $250. I'm giving my self a pat on the back because when I came home from Europe my card was at $1600+!