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December 15th, 2011, 09:00 AM
2Corinthians10:4's Avatar
2Corinthians10:4 2Corinthians10:4 is offline
Platinum Supermommy
Join Date: Oct 2006
Posts: 12,959
Hi everyone! Me and Dh have been on our debt free journey since January of 2011-we did soo good at the beginning of the year and paid off 2 loans and 4 credit cards for a total of 3091.00 but somewhere around May of last year we fell off the wagon. We traded in my car that had only about 6k left on it for a bigger SUV (that I did kind of need for my daycare) and now owe about 20k instead.

So I have reworked our budget and I was wondering if someone can look over it and see if there is anything we can change? We are following a modified Dave Ramsey program (by modified I mean that we have our emergency fund a little higher because we like the extra cushion and we are not closing our cc accounts until we are done being debt free because we want to build a house when Dh gets out of the Army and want a good credit score).

This budget is only for February and January because I am closing the FCC daycare at the end of February since we are pcs'ing at the end of March. So the only income I will get in March will be my FCC reimbursement which is about 600.00, in April we are also getting Dh's 6000 sign on bonus.


Total: 3131.00

ATT: 155.00
Verizon: 115.00 (January only, we switched to a family plan with ATT so this will be my last bill from them).
USAA Car Insurance: 90.00
Netflix: 7.99
Internet: 49.95 (I know it's high but unfortunately we can't change it, this is contracted out by our base housing)
Dd Gymnastics: 72.00
Groceries: 400.00 (This includes all groceries for my family as well as formula/food for the two babies in my FCC as well as all household items)
Gas: 200.00 (This is so high because we have my SUV and his bike, I fill mine up twice a month and he fills his bike up weekly)
Dh Blow: 100.00
My Blow: 100.00
Dh Cigarettes: 105.00 (I know this is A LOT, he is trying to quit)
Mutual Fund: 100.00

Sinking Funds:
Car Maintenance: 20.00
Haircuts: 10.00
Clothing: 30.00
Dd Activities: 20.00
Date night: 20.00
Gifts Given: 20.00

Debts: Min Paymnet: Total Due:
Paypal CC 65.00 1,598.56
Walmart CC 55.00 1,268.90
AMEX CC 89.00 3,586.12
Toyota (Car) 386.97 20,915.21
SL A 0 4,500
SL B 0 1,157
SL C 0 1,000

Total Debt: 34,025.79

I also will need to pay 900.00 to my school next semester since I cancelled any further SL's.

So I show that in January I will have a 920.09 snowball and in February I will have a 1035.09 snowball.

We currently have 937.00 in our emergency fund but we want to get it up to 1500.00 just because we feel more comfortable with the extra cushion.

  • 414.00 goes into savings to make it total 1500.00
  • The remaining 506.00 will go towards my school.

  • Pay 394 toward my school (that will close out that for the semester) and pay the remaining 641 toward the Wal-Mart card.

In March I will only have 300-400 to put toward the snowball since my income will go down but all of that will go towards the Wal-Mart card as well (only about 200 should remain).

In April I will rework our budget based on whatever his take home will be then, and when we get his bonus it will all go towards debt.

What do you think? What am I missing?
Thanks for any help ladies!

Thanks ladies!

Thank you Kiliki for my beautiful siggy!

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