July 21, 2012

I figured it's time to post the facts again. Here they are in black and white.

July 21, 2011
Credit Card Ab: $2402.28
Credit Card Me: $5969.12
Credit Card Di: $3107.80
Credit Card Am: $2390.41
Credit Card NF: $3705.44
Subtotal: $17575.10

Other debts
Auto Loan: $6523.89
Undergrad Loan #1: $358.75
Undergrad Loan #2: $8421.02
Subtotal: $15303.66

Total debts: $32878.71

The good news is that I have, overall, $3268.99 less debt than I did 2.5 years ago. BUT the bad news is that all the gains were in static debt - my car and student loans. I actually have $7235.41 more in credit card debt than I did.

To compare, a recap of progress made (or not made) from 2009-2011:

October 23, 2009
Credit Card #Ab: $3128.99
Credit Card #Me: $4586.88
Credit Card #Di: $1309.07
Credit Card #Am: $1314.75
Credit Card Subtotal: $10339.69

Other debts
Auto Loan: $14849.39
Undergrad Loan #1: $1543.80
Undergrad Loan #2: $9414.82
Other Debts Subtotal: $25808.01

Total debts: $36147.70

May 11, 2010
Credit Card Ab - 2204.67
Credit Card Me - 4225.94
Credit Card Di - 240.54
Credit Card Am - 1964.07
Credit Card Subtotal: $8635.22

February 18, 2011
Credit Card Ab - $2248.05
Credit Card Me - $3879.16
Credit Card Di - $1396.20
Credit Card Am - $2903.48
Credit Card NF - $0.00
Credit Card Subtotal: $10426.90

February 18, 2011

OK, so I had *planned* to cut the credit cards up, but didn't actually get around to it. I've been spending a bit on Credit Card Am, as you can see by the fact that it's gone up. This is primarily on food - we have been out of town/busy the last few weekends and haven't had a chance to go grocery shopping, so I've been eating out. Plus, we ate out a couple of times with friends.

I paid off Credit Card Di, but then put a couple of travel expenses on it - flights to Seattle for a trip that C and I are taking with my mom, place to stay in Seattle, and flights to Madison in July for C and I. The flights to Madison were an expense that I've known about for a while. The trip to Seattle was less expected. Still, I'm OK with these expenses.

Given that we're going to need to put things on credit for the wedding - I'm considering accelerating the payoff for Credit Card Ab, which has the lowest APR (7.9%). However, it also has the lowest credit limit ($2500). Credit Card Me, on the other hand, has a pretty low APR (11.49%) and a much higher credit limit ($6500). Any thoughts on what would be the best strategy?

Credit Card Ab - $2248.05
Credit Card Me - $3879.16
Credit Card Di - $1396.20
Credit Card Am - $2903.48
Credit Card NF - $0.00

Total Debt: $10426.90

February 7, 2011

Credit Card Ab - $2266.84
Credit Card Me - $3842.00
Credit Card Di - $0.00
Credit Card Am - $2713.39
Credit Card NF - $0.00

Total Debt: $8,822.23

February 1, 2011

Credit Card Ab - $2266.84
Credit Card Me - $3935.00
Credit Card Di - $1462.69
Credit Card Am - $2540.62
Credit Card NF - $0.00

Total Debt: $10,205.15

January 17, 2011

The credit cards have been cut up. I do have some recurring expenses on each, listed below. Right now, I'm focusing on paying off the Di card, so all extra money I have I'm throwing at that card. For the others, I pay the minimum plus whatever the recurring expenses are each month, so that I don't get further behind.

Credit Card Ab - $2376.84
Credit Card Me - $3935.00
Credit Card Di - $1452.15
Credit Card Am - $2492.62
Credit Card NF - $0.00

Total Debt: $10,256.60

Recurring Expenses
Credit Card Ab - SunPass ($120/month) and Netflix ($10.59/month)
Credit Card Me - credit monitoring service ($12.99/month)
Credit Card Di - Lagusta's Luscious chocolate of the month club ($33/month)
Credit Card Am - none
Credit Card NF - none

By my calculations, the Di card should be paid off by February 11. Then I'll start working on the Am card, which should be paid off by April 8. Then Me, which should be paid off mid-July, then Ab, which should be paid off by end of August.

Now, the question is - can I sustain this level of card-paying-offery, while still putting money away for the wedding and paying for our trips to Madison and Disney?

Epic fail on the credit card front

So...between an unexpected trip to Alabama, an unexpected hotel expense in New York (couchsurfing fell through rather miserably, although at least we found out in advance!), new brakes, Christmas presents, and falling completely off the healthy food wagon (thus spending a LOT of money on fast food and restaurants) - my credit card debt is at an all-time high at the close of 2010. Behold.

Credit Card Ab - $2459.75
Credit Card Me - $3977.37
Credit Card Di - $2918.73
Credit Card Am - $2564.62
Credit Card NF - $0.00 (paid this one off last year, haven't used it because I cut it up)
Total: $11,920.47

The fact that I ended up with $3700 additional credit card debt this year instead of paying it off, as I had planned, really annoys me. But it proves what I had suspected - I need to cut the cards up and not have them available. I just don't have the willpower, currently, to have them and not use them. Also, I think I need to cancel my subscriptions to - or at the very least, auto-archive - Groupon, LivingSocial, and Dealist. Way too much temptation.

So - New Year's resolution #1:
cut up all of the credit cards

Debt Update

Credit Card Ab - 2279.77
Credit Card Me - 4268.01
Credit Card Di - 0.00
Credit Card Am - 1654.07
Total: $8201.85

Money update

I haven't done so well lately with paying the cards down. Or rather, I paid them down, but then spent them up again (mostly on travel-related items).

Here's the deal now (I started confusing myself using numbers to refer to the credit cards, so now I'm using letters):

Credit Card Ab - 2204.67
Credit Card Me - 4225.94
Credit Card Di - 240.54
Credit Card Am - 1964.07
Total: $8635.22

Yes, that's $96.88 less than my total of $8732.10 as of January 4 - but that was four months ago - so it should be MUCH less (like $3000 less). But oh well. Going to pay off Card Di again this week, then Credit Card Am is the next victim.

I decided to leave my tax refund in my emergency fund - I've used tax refunds to pay off credit cards before, and strangely, they just didn't stay paid off. So I'm trying a different way this year.

Oh, and since we joined our church two weeks ago I've started tithing. 10% a week. Not easy psychologically, but I am interested to see how it works out.

Flashback

As of October 23, my debt was as follows:

Credit Card #1: $3128.99
Credit Card #2: $4586.88
Credit Card #3: $1309.07
Credit Card #4: $1314.75
Subtotal: $10339.69

Auto Loan: $14849.39
Undergrad Loan #1: $1543.80
Undergrad Loan #2: $9414.82
Subtotal: $25808.01

Total debts: $36147.70

Analysis:
I have paid off one credit card and a total of $1607.59 in credit card debt. I've paid off $2394.94 of total debt.

I wish I was further along, but I'm OK with this. I am on track to pay off credit card #3 by January 29th.

January Totals

Credit Card #1: $3230.31
Credit Card #2: $4433.40
Credit Card #3: $1068.39
Subtotal: $8732.10

Auto Loan: $14092.60
Undergrad Loan #1: $1474.43
Undergrad Loan #2: $9453.63
Subtotal: $25020.66

Total debts: $33752.76

The Naked Truth

Without further ado...the naked spectral figure of my debt:

Credit Card #1: $3262.64
Credit Card #2: $4377.60
Credit Card #3: $1270.01
Subtotal: $8910.25

Auto Loan: $14336.79
Undergrad Loan #1: $1508.57
Undergrad Loan #2: $9414.82
Subtotal: $25260.18

Total debts: $34170.43

The State of Things

Well, the $10 per week thing didn't work so well. Neither did the $20 per week thing. It's just a wee bit too restrictive right now. But I haven't spent any money on credit cards!

We haven't really been going out much anyway. We spent Thanksgiving with Carrot's family. I've been studying for finals, so mostly I just spend money on lunch.

Newest Art

Loved this, bought it at the Delray Art Festival. $95 - with a hand-drawn detail of one of the butterflies. Definitely worth it every penny.

Check out the artist's website: http://www.echo-x.com

Paid off

The second credit card, that is. Just three more to go. Total owed: $9147.93.

Date Night #2

Last Saturday, we went to a place in Boynton Beach called Phyllis G's Enigma - we had a 25% off coupon and had never been. The entrees were pricier than we expected, but we didn't want the same thing, so we couldn't share.

So, I used part of my $20 discretionary allowance (from the previous two weeks) to get myself what I really wanted, snapper francese and a glass of sangria. Carrot had a burger and a beer. The sangria was really good, but I'm sticking with water next time. It's just not worth the money.

We did join their mailing list, and I just got an email with some early bird specials (buy one, get one free). We'll definitely go back - the food was awesome and it's a really cute place. Apparently, the usual (older) crowd starts to shuffle in around 6. You've been warned.

Then we went to Goodwill - I resisted the temptation to buy a super cute coat (one that would be perfect in my New York fantasy life, but is next to useless in my Florida reality life) and a couple of purses. Instead, I bought a canvas tote with a Hindi tobacco advertisement on it. Carrot got a tacky Hawaiian shirt and a random tie for her Halloween costume.

The bottom line:
Sangria: $5
Stella: $4.25
Snapper Francese: $18
Burger: $10
Total (after tax, discount, and tip): $37.76

Tote bag: $0.99
Hawaiian shirt: $2.49
Tie: $1.49
Total: $4.97

Date night this week cost...$42.73. Not bad.

Credit Card Paid Off

Just paid off my Navy Federal Credit Union credit card...woohoo! One ($633.24) down, four ($10612.05) to go.

The Debt Snowball

While I wouldn't call myself a Dave Ramsey fan, I certainly respect the message and the implementation that seems to be working for many people.

I think the debt snowball is a great idea, however. It goes like this: 1) you figure out how much a month you can pay towards your debt - let's say, just credit cards (although it could be anything). 2) List all of your debts, the amount, the interest rate, and the minimum payment. 3) Pay the minimum payment towards each debt except the debt at the lowest dollar amount. Throw the rest of your debt-paying money at that lowest debt, until it's paid off. Then move on to the next one. Here - check out this better explanation.

This spreadsheet (you have to download it) is great. I highly recommend it. There is also a video that explain how to use it, which is not necessary but is helpful.

Non-Consumer

I found a fantastic new (to me) blog yesterday - The Non-Consumer Advocate. Although I am not sure I'm ready to commit to not buying new stuff, it was definitely inspiring. Reading this blog suggested the following NFD (New Financial Decision):

NFD #1: once we run out of paper towels, we are not going to buy any more. Instead, will use dish towels to dry things. Carrot is on board with this.

Two Bits

We did overtip - by $0.02. 20% on $21.14 is $4.23.

But that's really not the point - the point is, tipping in change makes me feel like I'm that old lady who slips the busboy a shiny new nickel and cackles, "this is just for you, sonny...don't spend it all in one place! Go get yourself an egg cream."

However, I can live with a quarter - at least it's a noble coin. But if Carrot wants to start leaving pennies and nickels and dimes...we're going to have to have a serious talk.

The four and a quarter debacle

First I will say hello...hello! (this being my first post and all) On to the show.

We had already gone over the budget, and we knew that was going to happen because the raw total for the dinner was $20 so we knew tax and tip would put us over. I have worked in restaurants and bars, and while I like to tip the bartender even if they are kind enough to get me a water, under the circumstances I thought it fitting to use a little restraint. Normally I would have left the $5 and not thought much of it, but my mentality was that we were already going into debt on our $20 meal challenge. When Bunny says she was mortified, she means it. I almost gave in, but 20% tip on $21 and change is $4.20...I was actually over-tipping! (I can't wait to see what Bunny says a about that.) I think this experiment will open our eyes to the fact that these days we may be able to get one entree and and two coffees for $20...and pray they bring free bread.