Uncategorized

Let’s talk finances.

Hey y’all, it’s been a minute since my last update. This year I will be attempting to update at least once a week, if not more often. This year (2020) I am aiming to pay off roughly $11k of debt and start up a savings account. I’ve made some action points to help achieve this. I’m being more active in tracking my expenses and I  have also started up a shopping ban (aka No Buy year.) My next post will be about that. I’m also looking at moving in with two more roommates to cut costs there. Without further ado, let’s look at my basic finances.

 

 $860.00 Rent

 $120.00 Car ins

 $277.00 Car payment (Leased- 1 yr left)

   $65.00 CC minimum 

   $45.00 Phone

   $80.00 Gas

 $400.00 Food (For two people)

   $40.00 Dog (Food/vet savings)

   $36.00 St Loan (Interest- in deferment)

$1923.00 Total Expenses

  $1900.00 CC debt (26.5%)

  $9000.00 Personal Loan #1 (No interest)

     $500.00 Personal Loan #2 (No interest)

$10000.00 St Loan (Currently deferred)

$21400.00 Total Debts

$2180.00 Income (paid $545 weekly) 

All numbers rounded a bit. 

So a bit of background, I’m injured right now and am making the minimum I can right now while on light duty. I also have one more surgery so I’ll be on temporary disability then, which works out to about the same income. Once I am cleared for work I’ll be making $5.75 not an hour and also getting a second (part time) job to funnel directly to debt. No idea when that will happen, this has been a year and a half long process so far.

My current plan is obviously, don’t buy anything that isn’t essential. I’m taking cash out for rent, car payment, car ins, gas, groceries, dog weekly and enveloping them so I don’t struggle to pay at the end of the month. So far this system is working for me. My CC and St loan payments are automatic. I currently have no savings.

I’m thinking that my main focus first is to pay off the CC. That will improve my credit (I hope)! Then my next important one is the $9k personal loan, as that is from my partner and we live together and I don’t want money to be a point of contention. My student loan is deferred through 12/2020, if I happen to pay off the CC and personal loans then I will start making payments even though I’m in deferment. My debate right now is, should I be shoveling all extra income to debt or should I be saving a small portion of it to start a savings account? Right now I only have about $250 extra after all expenses/minimum payments to put towards debt. I’m thinking maybe $200 to debt and $50 to saving just to start some kind of saving account.

(I also will have to have some dental work done, about $2k was the quote but I’ll know more about that in late Jan.)

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Action Plan, Debt, Goals, Personal Finance, Rambles

2018 Action Plan

So I’ve stumbled across this concept of not having just attainable goals, but also having an action plan in place to reach those goals.

My big 2018 goals are:
– Pay off PL #1 ($500)
– Pay off PL #2 ($5,439.00)
– Pay off CC ($1,781.62)
– Continue SL payments ($11,575.07 -$150/mo minimum-)
– Save for VidCon ($10/wk until June 23rd)
– Save for Christmas 2018 spending ($10/wk until October)
– Save $1,000 emergency funds
– Be eating 90% WFPB diet by the end of the year
– Be exercising regularly 150 minutes a week

I know that $1k isn’t enough for an emergency savings and it’s definitely NOT where I’m going to stop. $1k is just my jumping point to end 2018 on.

To make these goals happen I plan to:
– Read some highly recommended debt/PF books
– Read more PF blogs and be as active as I can on mine
– Budget monthly and review at the end of the month
– Set aside savings weekly (Fridays)
– Set mini-goals every month
– Track eating and average weekly
– Track workouts and average weekly

Now… to sort out that budget.

What’s something that you did in the beginning of your PF journey that you found really helpful?

 

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Health, Learn About Me, Rambles, Uncategorized

Hello.

Hello. 🙂

I’ve decided that I need some accountability when it comes to financial, dietary and fitness goals. So, welcome to rmblsandrnts! I’ll be rambling and ranting about my journey to a healthier outlook on personal finance and physical health.

I have about $19,295.69 in debt right now.

Wow.

That just blew my mind. Okay okay, back on topic.

Of that, there are four accounts. One is a credit card for $1,781.62 at 26.15%, two are personal loans from friends ($500 and $5,439.00 respectively) with no interest and the last one is my student loan for $11,575.07 at 4.41%.

I am mainly concerned with the personal loans and the credit card for right now, so I will be focusing on those first.

Physically I am 5ft 1in tall, weigh approx 136 with 30% body fat. I’ll actually measure that tomorrow morning when I post my March goals. I currently eat a semi-SAD diet, leaning towards plant based. I am gluten intolerant and my weakness is soda, sweets and salt.

Thanks for listening.

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