When the hubby and I started this blog we said that we wanted to pay off our debt in 730 days. By looking at the numbers we need to do find a way to bring a lot more money to accomplish this. Is this why we constantly fail? Is it because we always set unrealistic goals?
Being that today is Day 174; we only have 556 days to go. That means that we need $.20 a second, $12.14 an hour, $291.34 a day or a little over $9,000 a month for debt repayment only. I am starting to become a little discouraged.
For the month of January I have budgeted $1,089.01 for debt repayment, far from the $9,000 we need. It is time to re-evaluate the budget and our goals.
Showing posts with label Budget. Show all posts
Showing posts with label Budget. Show all posts
Saturday, January 2, 2010
Friday, January 1, 2010
Day 173 - January Budget
Total Income: I have built in $300 of other income for my Flex spending account for medical expenses.
Vehicles: Includes 3 payments, insurance, fuel and service. (I think I know where I need to cut expense at).
Personal: Life and disability insurance, medical expenses and personal care.
Home: All utilities, rent, and a cord of wood. (I will expand on a later post on our rent).
Credit Card: This only include minimum payments.
Student Loans: Again only minimum payments.
Savings: From experience every time we go on a budget we tend to budget for "big expenses" as they come up. This is where we become discourage and begin to live off the budget. Not this year - every month I will send these funds to ING and we will only use them for our "big expenses". Included in the section are: emergency fund, Christmas and birthday gifts, Halloween party, annual vacation, home insurance and taxes.
Vehicles: Includes 3 payments, insurance, fuel and service. (I think I know where I need to cut expense at).
Personal: Life and disability insurance, medical expenses and personal care.
Home: All utilities, rent, and a cord of wood. (I will expand on a later post on our rent).
Credit Card: This only include minimum payments.
Student Loans: Again only minimum payments.
Savings: From experience every time we go on a budget we tend to budget for "big expenses" as they come up. This is where we become discourage and begin to live off the budget. Not this year - every month I will send these funds to ING and we will only use them for our "big expenses". Included in the section are: emergency fund, Christmas and birthday gifts, Halloween party, annual vacation, home insurance and taxes.
Subscribe to:
Posts (Atom)
