Just wanted to give a quick update on how I’m doing. Soooo I definitely need to work on this budgeting thing. I think I royally blew my budget this month. Partly because I probably spent money on some things I didn’t need and partly because I’m not sure I budgeted well. I received my check for teaching on last Friday (hooray), but I spent a chunk of it on buying an Xbox One. Now I know, I know, that’s not going to directly help me pay down my debt…but hear me out. I am a big nerd/geek and video games are right up my alley. So I figured if I have video game system, this will help me stay home in the long run because I can play different games, watch movies and television shows and be social with my friends without having to spend the additional money of say going out for food and drinks. This also allows me to have say video game and movie watching events at my house, which again I think will help save money in the long run. I know this may be a stretch, but its the best I’ve got so it’ll have to do lol. Honestly, I have been wanting a new system for awhile now and there was a special bundle that came out that I couldn’t resist getting. I also bought two pairs of new shoes, but those were definitely need for work. When you work in a business setting, you can’t walk around looking shabby. I spent less than $100.00 on the two pair of shoes and I haven’t bought shoes in several months, so I will count that as a win. Plus, I don’t plan on buying any more new shoes for awhile.
I will be spending more money near the end of this month for Homecoming. I will have to travel so I am hoping to the cost of the entire trip will be less than $200.00. I will need to rent a car, buy gas, pay for my football game ticket, split the hotel costs with a friend, pay for food and pay for one or two parties. I definitely think I can make the trip for less than $200.00.
The good news is that I was able to pay more than the minimum balance for all my debt payments up until this point. I have also been able to put away $200.00 in my savings account. If I can put away $200.00 every paycheck I will hit my $1,000.00 emergency fund in no time. However, I think I may keep going and try to save up the recommended six months of living expenses…that will come out to about $4,000.00. This will roughly require ten paychecks, i.e. five months, of putting away $200.00 a month. This is definitely doable. I just have to be diligent. This debt repaying process is going to be a struggle lol.
MovingBack2Black 