Day 15 with out a CC!
Studio checking balance $4374.12
Personal checking balance -$186.99
Well I finally know the truth and it wasn't pretty. I wish I could figure out how to do those little graphs that show how much my debt is at the side of my blog. But that is for another day. Let me tell you at first I was shocked and then I calmed down and realized that there is a way out.
This is the plan: I will sock everything I can (within reason Sluggy) at the studio CC which is really high right now but I have reimbursement from the show coming in later this month. The interest on this card is 12.99, if all goes as planned it will be paid off by March.
Next I will pay off the sewer loan. It is a signature loan at 8.9% and all our other debts are at 2% and 3%. I would love to pay off the truck first but it does not make sense.
Our personal credit card I will try for payoff by June, but again nothing drastic.
I have two smaller debts that are each close to $1000.00 plus the emergency fund. These will be paid by me out of the shop. The first one will be the emergency fund.
Good news is that our House loan will be below $100,000 by the end of the year. I always go to B-Kats blog and look at the progress she made and she gives me inspiration that I know I can do this.
So now I have a plan, let's just hope nothing goes wrong to sabotage the plan.
It is hard for me to make a budget as my income fluctuates so much. I also must be careful not to mix money between my personal and the studio as it is an LLC and I can't break the bonds of trust in the corporate sense.
Now I have to order some fabric on line and I will have to use a CC but I plan to write a check for the total instantly and send it to the CC company thus not adding to my debt.
All in all I have made progress it is just so slow and I feel like I go backwards all the time.
There are many uniforms to do in the shop today, so I had better get busy.
Have a great and productive day!
Kim
Have you tried paying that credit card bill online? I'm sure you dont get charged extra to pay via mail (though I've seen some cards that do that!), but I like having access to my card information and payment info at all times. That's good that you've pulled the numbers together. I really think knowing things beats not knowing.
ReplyDeleteOh, and when you do feel curious enough and you have time, email me which sorts of graphs you're talking about and I can help you figure it out.
DeleteYou know Tanner the ones you have at the side of your text that show bars of how much you have paid versus how much you owe.
DeleteThanks Kim! When my back aches and I don't feel like doing anything I think of you too! You accomplish so much, even though you don't always think it! Those are some serious meds that you have to take. Then the eye surgery that you had and worked right away!
ReplyDeleteEverything will happen in time. You are One woman, two hands.