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August 2008 Financial Overview

August 19th, 2008 at 07:08 pm

Here's our current status for August; not the best. We had a few unexpected expenses that threw off our budget and left us with about $1500 more debt. Luckily yesterday we got our homeowner's insurance refund check in the mail and I have sent a third payment to Target this month ($165) and an extra $100 payment to overdraft.

I'm also bummed to see that my husband's 401k lost approximately $257 this month. I know this is one area that I need to learn more about; I sure don't like to see it going down!

Current Debt: August 2008

Student Loan #1
% V, Outstanding: $2,435

Student Loan #2
4.3% V, Outstanding: $1,575

Bank of America
10.24% V, Outstanding: $10,390

Bank of America
9.90% V, Outstanding: $10,211

Bank of America
0% to 03/2009, Outstanding: $4,635

Chase
15.43% V, Outstanding: $261

Chase
10.99%, Outstanding: $10

Citi
0% to 07/2009, Outstanding: $2,060

Target
22%, Outstanding: $445

Overdraft
18.00% V, Outstanding: $1,365

401K
Loan 1, Outstanding: $937 (Pay off 07/31/2009)
Loan 2, Outstanding: $4,233 (Pay off 07/16/2011)

Car Loan
9.90%, Outstanding: $15,944



DEBT TOTALS
Credit cards & Overdraft: $29,377
Student Loans: $4,010
401K Loans: $5,170
Car Loan: $15,944


THE BIG DEBT TOTAL: $54,501

Total Savings: $0
Total Retirement: $46,750

2 Responses to “August 2008 Financial Overview”

  1. Broken Arrow Says:

    If you're 30ish, I wouldn't worry about it going down. It's a paper loss that has plenty of time to rebound and gain even more ground. In fact, if you have more room to contribute, now is probably a good time since it also means that shares or NAVs are cheaper to buy.

  2. Personal Finance Student Says:

    Thanks Broken Arrow. We're planning on upping our contribution to 6% of my husband's salary (the max. that his company matches) once his raise goes into effect in Sept. I have heard that a down market is a good time to buy since you get more shares for your money; thanks for the reminder. I need to remember it's more about the long term for us right now.

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