Well playing around to see what the girl and I's net worth happens to be...$86,800! Once we get all of this debt paid off then I will actually care! In less than two years when our debt is paid off we will have a net worth of over $178,000!
Have a safe Memorial Day Weekend!
Friday, May 25, 2007
Thursday, May 24, 2007
Gas Prices
Well it seems all the talk right now is about gas prices. In O-Town right now prices are at $3.29. Could be worse, but man it really hurts when the girl fills up here VW Jetta at $45 and my Grand Am at $40.
Because of the gas prices my mom is a little upset with me. She wanted the girl and I to head out to western Nebraska for Memorial Day weekend. Along with not wanting to make a 6.5 hour trip gas alone would cost us $200.
Hate to say it, but mom I love you but $200 will go a long way in our debt snowball!!
Because of the gas prices my mom is a little upset with me. She wanted the girl and I to head out to western Nebraska for Memorial Day weekend. Along with not wanting to make a 6.5 hour trip gas alone would cost us $200.
Hate to say it, but mom I love you but $200 will go a long way in our debt snowball!!
Wednesday, May 23, 2007
Debt Snowball
The mighty Debt Snowball! If anyone of you have listened to Dave Ramsey you know about the Debt Snowball.
Step #1 $1,000 in savings - Done $1,200 at INGDirect
Step #2 Pay off debt - Only $74, 873 left.
Our Debt
State Farm - $5,883 (The girls card, I got rid of cc debt well over a year ago)
Student Loans - $18,000 (Mine)
Student Loans - $50,000 (The girls)
Luckily she had her undergrad paid for and the $50,000 is in grad school loans.
The girl and I have a decent income and have done our first budget together. It has been a challenge, but when we decided to put our debts together we said we have to see where our money goes.
This has been great, we have budgeted to pay $3,400 a month towards debt (the girls take home pay) and live on my salary. Well at the end of this month we should have at least $300 to buy some much needed summer clothes!!
Living on a budget is a great thing!!
Step #1 $1,000 in savings - Done $1,200 at INGDirect
Step #2 Pay off debt - Only $74, 873 left.
Our Debt
State Farm - $5,883 (The girls card, I got rid of cc debt well over a year ago)
Student Loans - $18,000 (Mine)
Student Loans - $50,000 (The girls)
Luckily she had her undergrad paid for and the $50,000 is in grad school loans.
The girl and I have a decent income and have done our first budget together. It has been a challenge, but when we decided to put our debts together we said we have to see where our money goes.
This has been great, we have budgeted to pay $3,400 a month towards debt (the girls take home pay) and live on my salary. Well at the end of this month we should have at least $300 to buy some much needed summer clothes!!
Living on a budget is a great thing!!
Tuesday, May 22, 2007
Golfing
I played golf yesterday for a fundraiser for our volleyball team. Wow, it might have been the windiest day of the year. Yes the wind blows alot in Nebraska, but it was rediculous.
I love to golf, but I only play when it is free. Playing golf is not something you can do when you are trying to pay off $75,000 in debt. The average round in O-Town is $40. I would say that I play around 20-30 times a year (all free, benefits of being in athletics) and at $40 a pop that would be $1200 a year. Ouch!
The girl also is interested in golf, and she spent $20 to play 9-holes last week. She decided that she wanted to play twice a week with her girlfriends. $40 a month plus usually dinner afterwards. This all adds up, but she did find a par 3 course that is only $5 for 9-holes. She knew I relieved after hearing that!!
From the short grass...
I love to golf, but I only play when it is free. Playing golf is not something you can do when you are trying to pay off $75,000 in debt. The average round in O-Town is $40. I would say that I play around 20-30 times a year (all free, benefits of being in athletics) and at $40 a pop that would be $1200 a year. Ouch!
The girl also is interested in golf, and she spent $20 to play 9-holes last week. She decided that she wanted to play twice a week with her girlfriends. $40 a month plus usually dinner afterwards. This all adds up, but she did find a par 3 course that is only $5 for 9-holes. She knew I relieved after hearing that!!
From the short grass...
Sunday, May 20, 2007
I hate credit cards!
Alright you will find out real quick that I hate credit cards. I was 17 when my mom said I could get a credit card. Use it only for emergenices. Yeah right mom! I did at first, gas, a promise ring for my high school sweetheart. Next thing I know I am living in Phoenix with a Chase visa and a Dillards card. The problem was that I had no money to pay the $2,000 Chase card and the $400 Dillards card. Credit screwed at only 19 years of age.
After getting many threating phone calls from a collection agency I set up a payment plan with them for $100 a month. After I paid it off I kept getting more and more offers. High interest cards wanted me! Wow that is great I can still get a credit card at 25% interest. Sign me up.
So three years later I went to college and thank god for the credit card. I needed shirts, beer and who knows what else. So I graduate three years later and had $5,000 + in credit card debt and $25,000 in student loan debt. My first job paid me $24,000 a year. This does not add up.
What am I supposed to do?? Well keep charging I guess, since I am already broke. I kept doing this for a little while longer until I heard a man on the radio say that debt is dumb. So I listened and listened until I understood what he was saying. He said you don't need credit cards and why would you pay 25% interest on a pair of shoes? Doesn't make a whole lot of sense does it??
I paid off my credit cards and close all of my accounts over a year ago. I will never again use a personal credit card. I will use cash and only cash. If I don't have the cash, do I really need it??
After getting many threating phone calls from a collection agency I set up a payment plan with them for $100 a month. After I paid it off I kept getting more and more offers. High interest cards wanted me! Wow that is great I can still get a credit card at 25% interest. Sign me up.
So three years later I went to college and thank god for the credit card. I needed shirts, beer and who knows what else. So I graduate three years later and had $5,000 + in credit card debt and $25,000 in student loan debt. My first job paid me $24,000 a year. This does not add up.
What am I supposed to do?? Well keep charging I guess, since I am already broke. I kept doing this for a little while longer until I heard a man on the radio say that debt is dumb. So I listened and listened until I understood what he was saying. He said you don't need credit cards and why would you pay 25% interest on a pair of shoes? Doesn't make a whole lot of sense does it??
I paid off my credit cards and close all of my accounts over a year ago. I will never again use a personal credit card. I will use cash and only cash. If I don't have the cash, do I really need it??
Day 1 continued...
Alright I just started the whole blog thing and my mind is spinning. I have seen a lot of different financial blogs and some are great! I will have to say mine will be a work in progress. Even though I am educated I am not the best writer.
Anyway, I wanted to give some background information about myself and the girl. I come from a small town in western Nebraska. I grew up a farm kid with two hardworking parents, a older brother and younger sister. The girl is a local girl that has two great parents and two older sisters.
We grew up pretty similar lives, poor. I never went without, but my parents could never really afford to give us everything we wanted. The girls family happened to be the same way.
When we met we had different views on money. Who doesn't nowadays! I am frugal or cheap and she loves the credit cards and spending.
Well after reading Dave Ramsey's "Total Money Makeover" she was hooked on getting out of debt.
Here is what we have together.
Take home pay: $5,516 a month
Debt: $75,300
I will break down the May budget and start a new budget for June in the upcoming days.
T.
Anyway, I wanted to give some background information about myself and the girl. I come from a small town in western Nebraska. I grew up a farm kid with two hardworking parents, a older brother and younger sister. The girl is a local girl that has two great parents and two older sisters.
We grew up pretty similar lives, poor. I never went without, but my parents could never really afford to give us everything we wanted. The girls family happened to be the same way.
When we met we had different views on money. Who doesn't nowadays! I am frugal or cheap and she loves the credit cards and spending.
Well after reading Dave Ramsey's "Total Money Makeover" she was hooked on getting out of debt.
Here is what we have together.
Take home pay: $5,516 a month
Debt: $75,300
I will break down the May budget and start a new budget for June in the upcoming days.
T.
My First Ever Blog!!
Welcome to my first ever blog. This is going to be a financial blog for of my daily, weekly and monthly struggles to become debt free.
I will not be in this alone as my girlfriend and I are working together to become debt free and finacially stable.
I am going to give a breakdown of our budget and then let you see our debt and how fast we will widdle down debt.
My mind set on debt will be known right away as I practice what Dave Ramsey preaches. www.daveramsey.com
I hope you enjoy and see the benefits that will come out of being debt free!!
I will not be in this alone as my girlfriend and I are working together to become debt free and finacially stable.
I am going to give a breakdown of our budget and then let you see our debt and how fast we will widdle down debt.
My mind set on debt will be known right away as I practice what Dave Ramsey preaches. www.daveramsey.com
I hope you enjoy and see the benefits that will come out of being debt free!!
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