Week 6 – Spend and Debt update (I increased my debt ..nooooooo!!)

I’m late on my weekly update – it was a big weekend interstate! I had a great time with friends I hadn’t seen in awhile and celebrating the engagement of 2 very dear friends of mine.

Debt busting wise, it wasn’t such a great week. For the first time since starting my Debt Breakup, I have had to use my credit card. But I have said before that April for me is a huge month (3 trips interstate) so although it is disappointing to have added too, and not reduced, my debt this week, its not surprising.

The main reason I did ‘no spend week’ in week 5 was to keep some coin in my account for the week just gone. So I figure if I hadn’t put in the hard ‘no spending’ yards in week 5, I’d had to have put even more on my credit card – so that is one good thing.

Total Income 

  •  $0.00

Spending / Expenses:

(Amounts in italics are included in my regular monthly expense budget as listed in this previous post)

  • Monday: $0.00
  • Tuesday: $4.40 coffee, $7.10 health and beauty items
  • Wednesday: $91.00 gift ($70 put on credit card), $10 gift cards
  • Thursday: $0.00
  • Friday: , $2.00 donation, $4.30 coffee
  • Saturday: $35.00 taxi (put on Credit card) $4.40 coffee, $15.90 train travel (put on Credit card), $9.00 coffees, $5.00 travel, $30 lunch, $20 taxi, $66.60 taxi
  • Sunday: $32 (put on credit card) $4.95 magazine, $10.oo dinner, $7.50 snacks (put on credit card), $15.90 travel

Total Expenses / spend: $375.05 + credit card interest $16.00 =$391.05

Week 6  Summary

Income $0 +   $208.35 (bank balance at start of the week) – expenses $375.05 = $9.37 in bank  account (not all my expenses were paid with cash, hence still a small balance in my account)

Week 6 debt status

Credit card #1 – $759.00

Credit card #2 – $4615.45

Personal loan – $7309.87

Total Debt : $12, 684.32

Initial Debt: $14, 744.12

Debt reduced by week 6:  $ 2059.80

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4 thoughts on “Week 6 – Spend and Debt update (I increased my debt ..nooooooo!!)

  1. Set backs happen. Thats life. All you can do is pick yourself back up and try not to let the same mistake happen again. Glad you had fun with your friends 🙂

  2. I understand how discouraging it is when you have to pull out the credit card for un-foreseen expenses. I had to do the same a few months ago and purchase new tires for my car. It didn’t take long to pay that off though and get back on track. Just keep the faith and determination and it will happen. It looks like you have a made a large dent in the debt so far – congrats!

    • Thank you 🙂 Yes, I feel a bit more back on track this week. When I started my break up with debt mission, I chose not to save for an emergency fund first – I honestly just wanted to be rid of the debt asap – so it does mean that any over spending goes on my card …but at this stage, that has only happened last week! Thanks for stopping by 🙂

  3. It happens to the best of us. I hate that for you. Like we said earlier jumping back into it and focusing on our budget is the best way to get back on track not to mention that spending fast. (Covers eyes)

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