Without further ado, here is the budget:
| Monthly Payment | Balance | Interest rate | |
|---|---|---|---|
| total payments | 4738 | ||
| taxes | 272 | 1218.06 | |
| house | 800 | 5% | |
| power | 120 | ||
| cable | 55 | ||
| cell | 380 | ||
| water | 65 | ||
| food/gas | 800 | ||
| geico | 166 | ||
| student loan | 0 | 14286.14 | |
| student loan | 10 | 749.35 | |
| Amazon | 25 | 98.32 | 26.24% |
| Walmart | 25 | 160.29 | 25.7% |
| Belk | 25 | 194.47 | 24.49% |
| Kohls | 25 | 278.3 | 24.24% |
| Lane bryant | 27 | 350 | 27.24% |
| Credit One | 25 | 372.12 | 20.65% |
| Credit One | 25 | 411.42 | 20.65% |
| USAA | 16 | 499.78 | 22.15% |
| Merrick | 51 | 1455.29 | 26.45% |
| barkelys | 50 | 1506.93 | 25.24% |
| Capital 1 | 40 | 1706.73 | 7.4% |
| Capital 1 | 50 | 1750 | 23.4% |
| Capital 1 | 60 | 1800 | 21.4% |
| Personal Loan 1 | 80 | 2505.10 | 10.75% |
| Capital 1 | 75 | 3230.03 | 7.4% |
| Credit Union Credit Card | 235 | 7755.61 | 8.5% |
| Personal Loan 2 | 244 | 7838.01 | 10.75% |
| car | 484 | 31575.6 | 3.75% |
| truck | 508 | 32217.51 | 3.75% |
| total debt | 111959.06 |
Income:
Husband and I get Paid on alternate weeks. My hourly wage is $20.40 an hour, with a few hours of overtime each pay period. His hourly wage is $13.91 an hour, with not much overtime. He also carries the health insurance for the family.
Our take home is around $1150 every two weeks for me and $650 every two weeks for my husband. That is with very little overtime. We are trying to build up our overtime to increase our income. I am up for my annual review with a raise promised from last year, and I am allowed at this time to get 5 hours a week overtime. This will increase as the weather gets colder. My husband’s overtime has been unreliable in the last few months, but he is trying to get as much as he can.
I also have 2 401k loans coming out of my paycheck that will be paid off within the next 8 months, so my income will go up there approximately $100 a paycheck. I also plan on canceling my AFLAC accident and cancer policy’s when open enrollment happens in October. That will add another $60 per paycheck back into my check. After all is said and done, the only thing that will come out of our checks is taxes, and health insurance.
With the paychecks falling every week, the house payment, personal loans, and vehicles are paid every week. The above budget and income are based on 4 pay periods. The extra 5th paychecks that come every few months don’t count for us, as the major bills are paid right off the top for 52 weeks a year, not 12 monthly payments. It gets them paid off faster, and for less interest.
The cell phone bill is huge I know. It has too many tablets on there, that we are making payments on. I called Verizon, and the only thing we can do is pay off the devices, and turn them off. I should be able to knock of $55 on the bill within 3 months, and other $55 off the bill in about 7 months. My cell and my husbands are not due to be paid off for 13 payments, and we have one more tablet on there, but it has 18 payments left.
That’s it. Like I have said in my previous posts, we are not walking away from one dime we owe. We will figure out how to pay this all off. One dollar at a time.
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