July 2010 :: Report

Debt Reduction

Our goals for July were:

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

Total Debt*              ::  $ 25,084.35

And here is where we were after 7.31.2010:

Credit Card Debt    ::  $25,760.72
Taxes Owed           ::   $       00.00
Personal Loans      ::   $       00.00

Total Debt*             :: $25,760.72

*does not include school loans

Yes. We were very far away (~$700) from where we needed to be this month. We’ve been really frustrated about what feels like a lack of progress. But while it may not be going as fast as we want, we ARE paying down debt. We ARE meeting our payments deadlines.

And, our Net worth is up another $2,000. It’s still a negative number ($2,173), but it IS up. Someday, we’re going to be in the positive…I think it will be someday soon 🙂

Budget

So, to no one’s surprise, our food was still an issue this month. But we are making some inroads in the planning and executing areas. And, we are both in agreement that we need to be more accountable to each other when it comes to dining out. This really is a hot button area for us…it has been for over a decade. But we are getting to the point where being so loose with the budget will no longer work. There will be some lifestyle changes coming up soon, and this will require us to count every little cent.

Other budget categories that were over include gifts, household expenses, gasoline and movies.  Not a ton, but enough to make a difference.

I’m trying to figure out the best way to share the burden of staying on budget with the husband. Weekly meetings? Money in envelopes? Refrigerator tallies?

Savings

Savings Goals for July:

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

Total Savings      :: $ 2,078

Where we landed at the end of July:

Regular Savings  :: $   166
Family Leave       :: $ 1,188
Emergency           :: $  688

Total Savings      :: $ 2,062

Better than before, and we’re getting closer to our goals!

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