Well, I said I was going to wait until December to do the next overview, but I thought it best to pull my head out of the sand now. We get our next paycheck on Friday (FINALLY fixed the HR snafu and should see the correct amount, fingers crossed) and want to know where we're starting from. I just finished another heart to heart with my husband and have puffy eyes, but am feeling better and ready to start fresh and tackle things again.
I should say that I pretty much snapped from the pressure this afternoon and stopped our 401k contributions after all, as well as our Freedom Account contributions, just until we have our overdraft paid off. I just need to feel secure in knowing that at least those things are in order. It really stinks, but I feel better (sort of) for the time being.
Anyway, here's the overview...
November 2008
Student Loan #1: $2,312
Student Load #2: $1,425
Bank of America #1: $8,824
Bank of America #2: $7,841
0% Bank of America #3: $4,449
Chase #1: $237
Chase #2: $2,924 ($2,600 at 4% for life of balance)
0% Citi: $1,940
Target: $81
Overdraft: $2,780
401k Loan #1: $710 (Pay off 07/31/2009)
401k Loan #2: $3,918 (Pay off 07/16/2011)
Car Loan: $15,944
DEBT TOTALS
Credit cards & Overdraft: $29,076
Student Loans: $3,737
401K Loans: $4,628
Car Loan: $15,944 (not updated since 8/08)
THE BIG DEBT TOTAL: $53,385
Total Savings: $67
Total Retirement: $43,554 (down about $4k)
So, I'm unchecking the "Get our CC debt to under $26k" and "Pay off overdraft" goals in the sidebar and will probably have to move them to '09. Well, I've faced the music and am ready to start again. That's what you do when you fall down, right? You just get up and keep trying. Thanks for all the support here; it truly helps!
November Debt Overview
November 13th, 2008 at 05:27 am
November 13th, 2008 at 01:06 pm 1226581580
November 13th, 2008 at 06:07 pm 1226599667
November 13th, 2008 at 08:17 pm 1226607476
I have considered a PT job, but it would have to be the overnight shift as I stay at home with my two small children during the day. I don't see how that would even work since I'd be dead tired, but I applied for an overnight/weekend shift a few weeks ago and was never called back. I guess I'm not pursuing that very hard because I know that we definitely have enough money to be putting about $1,000 a month (after 401k and Freedom Account contributions) towards our debt if we'd just live our budget. I hope, and am trusting, that this is all over now and we can get to living our budget and start working on this mountain of debt without adding tons more. Also, I am not paying off some of the smaller amounts first since they are at 0% or 4%, and the higher ones are at 9.9%.
Koppur - We get hit with a $10 fee that gets rolled into our overdraft balance. It's not huge, I guess, but we do get charged 18% so yes, this is also the first thing we need to pay off. It's well above any other interest we pay on CCs.