Week 9 – Expense and Debt Update

The exciting thing about this week was paying off my first Credit Card! I feel much more motivated than I did this time last week ūüôā

Given that my next credit card is almost 5k, I think my next milestone will be paying debt down to get under 10k.

Here are my week 9 stats:

Total Income 

  • ¬†$1595.00

Spending / Expenses:

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

  • Monday:¬†$2.00
  • Tuesday:¬†$35.00 travel
  • ¬†Wednesday:¬†$35.00 deposit for festival accom, $300.00 ¬†debt payment on Credit Card #1, $140.00 board, $186.25 electricity, $183.00 storage
  • Thursday:¬†$100.00 travel, $25.00 internet
  • Friday:¬† $3.50 soap, $5.00 coffee, $3.95 lunch, $12.95 movie rental
  • Saturday:¬†$7.00 coffee (me and dad)
  • Sunday:¬†$55.00 buffet breakfast for me, mum and dad (to say thank you for driving me to the airport so much in the last month!

Total Expenses / spend: $1093.67

Week 9 Summary

Income $1595.00 + bank balance $59.87 ¬†= $1654.87 ¬†‚Äď expenses $1093.67

= $561.20  in bank account

Week 9 debt status

Credit card #1 –¬†$0.00!!!! (Goal to pay off in total by 2nd¬†May 2013 COMPLETED ON TIME!!!!!!!!!!)

Credit card #2 –¬†$4818.05 ¬†‚Äď includes interest charged for April $82.65 (Goal to pay off in total by 8th¬†August 2013)

Personal loan –¬†$7,229.72 (Goal to pay off in total by 31st¬†October 2013)

Total Debt : $12,047.77

Initial Debt: $14, 744.12

Debt reduced by week 9:  $ 2696.35

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2 thoughts on “Week 9 – Expense and Debt Update

  1. nickf1975 says:

    Great blog by the way…. I’m sooo glad I have my credit card at heel. I’m tempted to cut it in half but there’s always that point when I need it for a rainy day. All the best!

    • I guess reading others blogs who are still in credit card debt is a good way to remind yourself you don’t want to get back there!! Can’t wait until the balance on my second card (the next victim!) is 0.00! Thanks for stopping by.

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