Tuesday, March 3, 2015
Student Loans are Due -_-
My last post really put things into perspective for me. I see what I make and what I HAVE to pay, but I don't really yet see what I am actually spending my money on to make me feel like my roughly $2600 a month (with no rent, mind you) is not working for me.
Here is a break down of what I figured out:
Income: $2600
Fixed Expenses: $815.53
Variable Expenses: $154.54*
*This includes the balance for my Capital One CC and the minimum payment on my Target CC.
Remaining: $1629.93
As I am writing this, I am seriously considering budgeting a fixed amount per month for variable expenses, say $350. That would cover the Capital One balance and put $223.46 towards my Target CC- a big step towards tackling that balance. And in subsequent months, I would apply the entire $350 to my Target CC and get my balance down to zero in about 3 months. I am only considering this and not yet taking action because my Student Loan consolidation payments start this month :( I will be paying $352 a month for the next 10 years.
My new breakdown is:
Income: $2600
Fixed Expenses: $ 1167.53
Variable Expenses: $154.54*
Remaining: $1278.47
This isn't even considering groceries and gas. On top of these, Little League and Soccer are starting soon with their respective fees of $235 and $75. I am definitely paying Little League in March, but presently I'm not sure when Soccer fees are due. (Remaining: $1043.47)
Since today is Sunday and the beginning of a month, I am going to task myself with recording and itemizing every transaction. And as luck would have it, my gas tank is on E as well so I can count the amount I spend on gas and get a really thorough picture of how I spend money in order to budget better.
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