Sunday, October 28, 2012
- pay off my credit cards
- finish all my travel shopping
- invest $500
- save $4000 for January trip
Time has been flying too fast, and in 2 days, our fate will determine where we will be by next month.
If everything turns out good, i will be able to fulfill there goals easy. If not, what is my Plan B?
-continue paying minimum on credit cards
-only buy necessary stuff for travel, no more goodies for friends
-borrow money from savings - (which i dont really want to do)
sigh, wish me luck. ill update soon.
Thursday, October 18, 2012
So here's what i have set up to be transferred per paycheck:
10th of the month:
$20 - USAA investment
$100 - ingdirect savings
$100 - pay off credit card
$220 - total
25th of the month:
$50 - USAA investment
$100 - Roth IRA
$100 - pay off credit card
$250 - total
i have the following credit cards to pay off:
target - 200 - 2 paychecks
cc #1 - 500 - 5 paychecks
cc #2 - 500 - 5 paychecks
hubby cc #1 - 3 paychecks
hubby cc #2 - 7 paychecks
i am also looking for some money that i can move also into my p2p investment but as for right now, i think this is a good set up:
-I am funding my emergency fund 5% of paycheck, need $50 more,
-Retirement -- target will be 5% of my paycheck so i need to add $50 by next year,
-$200 a month to pay off my $2200 credit card balance.. which will be in about 11 months!
and the greatest thing is my paycheck will still be intact! i didnt touch it at all to pay off these credit cards.
now that this is set in stone, i will just let this drive on its own.
I have come to a decision of paying our credit cards gradually.. I have gotten a bunch of advices from paying everything off all at once and start on a clean slate to slowly paying it off while enjoying life at the same time.
So here's my logic of the two:
Paying them all off at the same time when you have the money will free you from bondage, saves you interest and leaves you with nothing extra to spend. It will eventually end up to you using the card again anyway.
While gradually paying it off, setting some aside to savings and enjoying some for shopping and appreciating life will make you feel less of a burden that you are on a mission.
So i opt for the latter, life's too short and id like to enjoy at the same time be debt free.... Eventually.
Thursday, October 11, 2012
I am in a dilemma where im too scared to use up all my liquid cash to pay off my credit card debts.. and instead to keep it sitting in a savings account, like its gonna grow up to millions overnight.
So if it was you, and you have that extra cash to pay off all but one credit card, would you use it or keep that money sitting pretty in your savings account?
Tuesday, October 9, 2012
In order for me to become a millionaire, I pledge to do the following (each year):
Sunday, October 7, 2012
some are really too smart to get something started and takes it off right away, but for the rest of us, ideas like this dont come easy.
someday, i hope to find this niche.
Tuesday, October 2, 2012
Last month I was overbudget again in food. So I will try to increase my food budget this month:
Local tax: $70
Kids school: $541
Student loan: $96
Spending money: $200
I hope to not have any miscellaneous expenses this month except for the travel I will be booking.
Fresh month.. New goals!
September have been fruitful, online business have taken off and going well, consignment event was successful, hubby is done with school and ready to go back to work full time.
So for October, my goal really will be payback time:
-pay credit cards off
-bring bills to current
-start to save one paycheck
-start in p2p investing
I'm asking too much for this month but I can always move some stuff I can't fulfill to next month, it's a work in progress after all, right?