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Forum: Financial Planning and Budgeting


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January 28th, 2010, 07:53 AM
Amanda C's Avatar Platinum Supermommy
Join Date: Oct 2005
Location: East Texas
Posts: 17,724
Last year we went through a lot of financial struggles due to our vehicle payments. We weren't able to save any money until November and then that all went to Christmas.

So were now starting the new year fresh We've sold dh's truck and gotten rid of that note that was $450 a month and we traded in my Jeep on a minivan. I owed 3 more years on my Jeep at $592 a month I now owe 3 years on an 08 Dodge Grand Caravan at just $384 a month. So financially we're doing much better but I still HATE having extra debt. So here's what we've got. We're trying to get ready for baby #3 which means getting dd into a new room with a big girl bed. We paid cash for the bed and mattress which was $600 total. But we've had to use our CC's a little on the bedding and etc.

Right now we owe:

Capital One 174.51
Wal Mart 24.83
HSBC 239.00

For a total of $438.34. Now I have $200 in my checking right now and $125 in my savings. Dh gets paid tomorrow but it's been really cold here so my light is higher than usual. As of tomorrow I'll have the $200 that's in my checking right now plus his paycheck- but I don't have anything extra out of this check and then a total of $250 in my savings.

None of these CC's are due for at least 2 more weeks but I hate owing them period. So I can either pay half now and the other half in 2 weeks or just pull everything from the savings and pay it all tomorrow.

We're doing so good and I hate having these bills but I'm also trying to build our savings account up. Our monthly bills such as mortgage and etc are paid up 2-3 weeks in advance but I have to stay on that schedule that way when I have the baby and dh is off work we stay on track.

Also we haven't filed our income taxes yet but it doesn't matter that money has to go to my OB for my deposit.

Thanks ladies!

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March 1st, 2010, 07:41 PM
LJD3Tdance's Avatar Platinum Supermommy
Join Date: Mar 2007
Location: Eagle, Idaho
Posts: 60,398
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I would personally try to get a little more in savings before paying them off, because my experience has taught me that unexpected expenses come up a lot!

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March 7th, 2010, 05:25 PM
Lynsann's Avatar Platinum Supermommy
Join Date: Oct 2005
Posts: 8,867
I would get my emergency savings to $1000 and then completely pay off the cards with every bit of extra you have. Just get rid of the debt as soon as possible.
Mommy to Ava (5/24/06) and Kai (5/11/09)
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