Finances

Expenses

Here’s an account of roughly estimated monthly expenses:

Rent $735

Two Cell Phones (2 Go-Phone Plans $41.20 & 30.90) $ 71.50

Internet via Cable $32.99

Car Insurance $92.04

Water/Sewage/Garbage (current average) $50.00

Electricity (averaging) $60.00

Gas  ~ $50.00

Groceries ~ $400.00

Car Payment $200.00

College Loan Payment $72.12

Total: $2,067.67

*After much hard work, I’ve managed to reduce our expenses down closer to $2,000. Originally, the number was $3-400.00 over, so it’s nice to be living more inside our means. I have Nate to thank for that – many overtime hours allowed us more money to use on stocking up on bulk dry and freezer items, and will reduce our shopping trips (and buying wholesale will allow for more savings).

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Debt

Here’s the break-down:

Military Star Card (now inactive, since we’re no longer in the military) $2,783.21

USAA Credit Card $2,546.71 *new balance: $1,046.71

USAA Credit Card $997.47

American Express Card (now closed) $1, 186.06

Citi Card (now closed) $752.09

Bank of America Credit Card $343.19

Navy Federal Credit Union Car Loan $3,732.03

College Debt $10,254.56 (currently making monthly payments)

University of Maryland Debt $3,151.98

[Dental Bill (that military insurance refused to cover) ~$266.00]

Student Loans $12,333 (don’t have to begin paying until 2010)

May 2008: I just sent in a request for our credit reports, to see if there are any other outstanding debts that have gone to collection. We make monthly payments on our Car Loan, College debt, and USAA and B.of A. credit cards, but have been a little delinquent on these other cards. We intend on using our Tax Refund to pay of as much of this as possible. Our goal will then be to live without credit cards (gasp! can it be done?!) since we seem to do so poorly with them, and ultimately, have paid off all debt by the end of 2010.

*Update May 17, 2008: Sent off check to Military Star Card. Feels sooo good to have that taken care of. New balance: $22,664.42

*Update May 20, 2008: Called Citi Card and talked them into lowering the amount if I paid $300.00 upfront. They deducted $104.41. I’m putting the $300.00 in the mail tomorrow, and then will send the left over $343.49 on Thursday. Not to count my eggs before they hatch, but: New Balance: $21,912.33

*Update May 29, 2008: Arranged for complete payment on Bank Of America credit card. Had already paid $92.02, but after a confab with Nathan decided to just pay the whole thing off and be done with it. We decided this because at the time I applied for the card, they required a $99 deposit into a savings account, which they charge monthly when my credit gets crappy, and making it look like there’s a negative balance in this account. Once this account is closed, I’ll be happy to get my $99 back. New Balance: $21,569.14.

*Update June 17, 2008: Nathan paid off $1,500 of his USAA credit card with money we received as part of the Economic Stimulus check. New Balance: $20,069.14

*Update June 18, 2008: Nathan Paid off the remaining amount on his USAA credit card with money we received from our state tax return. New Balance: $19,022.43

*Update July 29, 2008: Found unpaid college bill that was sent to collection totalling $3,151.98. New Balance: $22,174.41

*Update October 22, 2008: Paid Dental bill $266.20.  Re-evaluated newly accumulated (!) debt. New Balance:$38,676.99

**I should add that each month I am paying ~ $436 on our Car and College Loans, but the New Balance here does not reflect that, although the sidebar does.

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Income

Currently, I’m staying at home with our son, while my husband works for a television company making $17/hr at a job he tolerates.  He just finished a very intensive year of night school studying Massage Therapy, and we’re anticipating his getting licensed soon!  I have some creative endeavors up my sleeve, which will be unveiled, eventually.