2. Visa Credit Card (balance: $695.06)
3. Car Loan (balance: $5,258.24)
4. Visa Credit Card #2 (balance: $8,102.97)
I spent the better half of this afternoon crunching numbers to see what monthly payments would be required to be completely consumer-debt free in six months, ten months, or twelve months. When computing it all out, it gets very overwhelming and a tad abysmal, but I tried not to get lost and discouraged. At the end of the month I will have a better idea of my projected income- as much as I can project on bartending hours, and really set in place a tentative budget. Ideally, I want to have my debt paid off by October, in addition to have enough money saved to move back to California. [But to do so, I'm going to find a lot more work-- so hopefully I can find a few other part-time gigs, freelance work, or a salaried job I don't mind leaving after six months or so].
In the meantime, I have found a new website that has proven to be a great resource and I can't wait to read further into Baker's personal stories. I have stayed on-mark financially by only carrying twenty dollars cash with me, and only by only spending money on gas and food. All my tips go into an envelop after every shift, and I only make deposits when I know I'll be paying bills online. So far, so good.
Any money-saving tips up your sleeves?
YAY!! Congratulations on paying off your first debt, it can only get better from here, and thank you so so much for sharing that link. I've been reading everything on that site all day. My favorite article is the one about paying off student loan debt by putting all your junk on ebay. OMG-I've been going through all my scrap all day. I'm really excited to get rid of all the stuff I don't need or use. Thanks for motivating me :)
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