July 2010 :: Goals

Our goal for July is to pay $1,600 toward our debt. Taking into account the interest that will be charged ($164) , the net will be $1,436.

So our totals at the end of July should be:

Credit Card Debt    ::  $ 25,084.35
Taxes Owed              ::  $          00.00
Personal Loans        ::  $          00.00

Total Debt*              ::  $ 25,084.35

*does not include school loans

And now for the Savings Goals – at the end of July, we aim to have:

Regular Savings  :: $     190
Family Leave       :: $ 1,200
Emergency           :: $    688

Total Savings      :: $ 2,078

According to MSN Money, our debt-free date is :: December 24, 2011

June 2010 :: Report

Debt Reduction

Our goals for June were:

Credit Card Debt    ::  $ 26,473.63
Taxes Owed              ::  $          00.00
Personal Loans        ::  $          00.00

Total Debt*              ::  $ 26,473.63

And here is where we were after 6.30.2010:

Credit Card Debt    ::  $26,529.35
Taxes Owed           ::   $       00.00
Personal Loans      ::   $       00.00

Total Debt*             :: $26,524.35

*does not include school loans

A $49 annual fee makes up for the difference between what we projected and what actually happened. We were really happy to be mostly make our monthly goal.

Budget

We *mostly* did well this month, but our food was (sigh) again over budget. As I had posted at the end of the month, this is going to have to change and we are going to make steps to help that happen. We did have some car expenses this month (brakes) for over $250, and there was a pricey trip to IKEA for a little over $100. But one of the biggest blows was when we were over drawn $11 and the bank charged us $140 ($35 for 4  items overdrawn). Yup. They were little amounts, $3 and under and it was a little  frustrating and ridiculous. So we’ll have to make sure we are more on top of it…it’s been a long time since we’ve been overdrawn – what a terrible feeling.

Savings

Savings Goals for June:

Regular Savings  :: $    190
Family Leave       :: $ 1,146
Emergency           :: $    669

Total Savings      :: $ 2,005

Where we landed at the end of June:

Regular Savings  :: $   120
Family Leave       :: $  667
Emergency           :: $  626

Total Savings      :: $ 1,413

Due to some of our overages, we didn’t get to save as much as I had wanted this month. It’s kind of a bummer, but I’m glad that we were able to meet our debt reduction goals and I’d rather have slowed down on the saving than on getting rid of the debt.