Hi all,
here is my budget, I take in $2000 every other two weeks. I'm single and have no family to take care of except now I have a gf as an extra expense.
I'm not balancing my finances correctly to get out of debt.
Credit card 2 is @ 19%, CC 1 and 3 still @ 0% introductory rates.
My plan is to pay of CC 2 first, then CC1 & CC3. Then focus on the car pyt.
Your input is greatly appreciated, thank you!
Surferdude
adjustment deduct $11,528.11 doesn't include my $8,613.34 savings.
Cut your savings and apply it to credit card #2. Actually if you really do have $8600 in savings I would pay off CC2 with it right now.
$80 for a gym? Unless you live in an urban area of a major city and it's a NICE gym you can do better. 24 Hour Fitness is $30/month for a Sport membership and not much more for Super Sport.
What's the difference between "Time Warner" and "Cable/Internet"?
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- My goal is to reach 10k in savings then I will use the savings allowance for CC pyts. But JV01 you made me realize I'm loosing money on CC2 with the 19% so I will use my savings to pay off CC2.
- $80 is for my Martial Arts training it is my passion however, I will cut it off soon and go back to my $30 regular gym.
- "What's the difference between "Time Warner" and "Cable/Internet"?" thank you for pointing this double expense. I will adjust my balance sheet.
jv01 thank you for the reply.
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When do the rates on CC1 and CC3 reset, and what do they reset to? You may want to pay CC3 off as soon as that resets. Also, I presume the minimum on CC1 will go up. Yes, this cuts into savings, but you plow back the CC interest you're not paying every month.
Also, as long as you can pay off your CURRENT monthly expenses in full, you want at least one zero-balance card to put those expenses on, so you're not paying interest on them.
No problem with that at all, just wanted to make sure it was worth it. My gym membership was actually $90 back in Chicago, but most of the gyms around downtown are rather hoity-toity and that was the going rate.
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When do the rates on CC1 and CC3 reset, and what do they reset to? You may want to pay CC3 off as soon as that resets. Also, I presume the minimum on CC1 will go up. Yes, this cuts into savings, but you plow back the CC interest you're not paying every month.
Also, as long as you can pay off your CURRENT monthly expenses in full, you want at least one zero-balance card to put those expenses on, so you're not paying interest on them.
No problem with that at all, just wanted to make sure it was worth it. My gym membership was actually $90 back in Chicago, but most of the gyms around downtown are rather hoity-toity and that was the going rate.
CC1 and CC3 reset a year from now. I will pay off CC2 since it's the only one with interest.