October 2009 :: Report

Debt Reduction

Our goals for October were:

Credit Card Debt  ::  $ 39,540.40
Taxes Owed         ::  $    3,259.86
Personal Loans    ::   $           0.00

Total Debt*           ::  $ 42,800.08

And here is where we were after 10.31.09:

Credit Card Debt  ::  $39,595.55
Taxes Owed          ::   $   3,130.23
Personal Loans    ::   $       00.00

Total Debt*            :: $42,725.78

*does not include school loans

Good month in the debt reduction department!!! Our goal was that we would pay $1,260 toward debt, with a net reduction of $833. Our total reduction for the month was $802. This was a little lower because of an annual fee, but it felt like we were getting on track, which is good. One of the reasons that we have better numbers than we thought is that there was an adjustment to our tax liability (in our favor), but it all counts to less debt, so we feel great about it!

Budget

With the move this month, our budget imploded a little bit (okay, it was a lot, not a little). I have been very frustrated by that and I’m hopeful that once we get the last things moved that we can really get things in line. Without having our kitchen set up for two weeks, our dining-out category was way out of control, and I was pretty disgusted with it all.

Savings

Savings Goals for October:

Regular Savings  :: $    350
Family Leave       :: $ 1,150
Emergency           :: $    535

Total Savings       :: $ 2,035

Where we landed at the end of October:

Regular Savings  :: $  383
Family Leave       :: $  813
Emergency           :: $  516

Total Savings      :: $ 1,712

We’ve got $1,712 in savings this month, up $177 from last month. We canceled some of our savings in order to fund parts of our move, which makes sense since it was a family emergency. We will probably take some of our regular savings to cover the remaining expenses. I would have loved to use that money for Christmas, but I think I have come up with a plan for making a little extra for Christmas (I’ll share later).

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