I guess I should begin by outlining my current financial situation.
*INCOME*
My Current Salary: $36,000 (Yearly)
or ~$2,220/Month (After Taxes)
Signing Bonus (One-Time): ~$3,000
*ESTIMATED MONTHLY EXPENSES*
Rent: $875
Utilities: ~$100
Gas: ~$400
Cell Phone: ~$100
Internet: ~$55
Car Insurance: $55
Renters Insurance: $7
Life Insurance: $33
Other Life Insurance: $60
Groceries: ~$150
Pet Supplies: ~$50
Health/Dental/Vision Insurance: ~$130
401K Contributions: ~$85
=== +$120 For Debt Payments ===
*DEBT*
State Farm Credit Card: $6,473.54
FFB Credit Card: $2,042.62
Discover Credit Card: $2,043.69
Owed To Former Employer: $638.00
Owed To Former Apartment Complex: ~$2,000
Bank Loan: $803.56
=== Notes ===
The "Bank Loan" is actually my brother's expense, but I put it on here because the loan is in my name, so if by chance he couldn't come up with the money for the payment, I would pay it myself. Some of the amounts are estimated because the exact cost will be unknown until I get my first paycheck or the last day of the billing cycle closes, etc. Once these one-time payments get out of the way, I can budget more accurately.
As for the debt payments, I will have an estimated $120 (maybe more) to put towards them every month. The State Farm Credit Card will need about $90, The Discover Card about $15, and the FFB Credit Card about $15. That equals exactly the $120, which means I need to pay down these credit cards as quickly as possible!
The Situation
March 16th, 2008 at 07:53 pm
March 16th, 2008 at 09:23 pm 1205702627
March 17th, 2008 at 03:49 am 1205725748
March 17th, 2008 at 09:52 pm 1205790724
I plan to use it for paying my old apartment complex (I had to break my lease to move here), and then whatever is left over I will use to reimburse the $638 to my former employer. Until I actually have the bonus and know how much I will be paying for my old apartment, I am trying to sit on the money in my checking account also. When it's all said and done, I'd like to put any extra money on one of my credit cards!