Here is what our goals for April were:
Credit Card Debt :: $45,489.02
Taxes Owed :: $ 4,449.83
Personal Loans :: $ 5320.00
Total Debt* :: $55,258.85
And here is where we were after 4.30.09:
Credit Card Debt :: $46,324.18
Taxes Owed :: $ 4,631.83
Personal Loans :: $ 5,450.00
Total Debt* :: $56,406.01
Our goal was that we would pay $3,285 toward debt, with a net reduction of $2,285. This month, we made most of those payments ($2.944.70), but we delayed a few of them (~$300) and made some adjustments to the accounts when we realized that I had mis-recorded the starting balance of one of the accounts and that added some interest payments for which we were not planning.
It was disappointing to have a $1,100+ difference between the goal and our final result, but I need to remember that we *did* make some progress and learned a few things. $1,232 of debt reduction still counts as debt reduction, so that is positive. And we *have* reduced our debt by over $4,900 since the end of February of this year – and that is a great total after a few months.
We spent $63.42 more than we had budgeted (the $65+ car repairs and tickets for the U2 concert in October are responsible for that), so it wasn’t too terrible for going over our budget. We overspent on quite a few categories (food, gasoline, personal care), which means that we need to re-evaluate those categories, so make sure that we are tighter on our spending. We did buy a few weeks worth of meat this week to put in the freezer, so we will be able to save some money of food for the first of the month.
We were able to save about $50 this month and I have adjusted our plan to start putting an extra $100/month into our savings account starting in July.