Knocking Down Debt

So with all the financial issues over the past few years, I am going to work on getting my debt down, and start saving some money. Hopefully 2016 will allow me to get on the right track. So here I will list my bills each month and what my current debt is…

I have a strange living arrangement where my ex and I are roommates, (strictly though some find that hard to believe) Long story of how it happened, but it is better financially.

He Pays:

Rent: 950.00
Cell: 400.00 (5 people total on plan)

Total 1,350.00

I Pay:

Insurance: 400.00 (two cars which include my 20 year old daughter, my way of helping her save for college)
Cable: 180.00
Water: 100.00
Gas: 100.00
Electric: 300.00
Car: 357.00

Total: 1,537.00

Outstanding Debt:

Rise Loan that I took out to help my daughter:
2,000 will have an added 500.00 to my bills until May unless I can get it paid off sooner (hopefully)

Borrowed Money from my car problems

My Mom: Borrowed $2,000 Currently owe: $750.00
My Daughter: $1,500.00 Currently owe: $1,400.00

Credit Card Debts:

First Savings: 350.00
Legacy : 350.00
Merrick : 900.00
Capital 1 : 500.00
Capital 1 : 500.00
Victoria S : 300.00
Kohl’s : 300.00
BOA : 500.00

Total: :3,700.00
Total Debt :7,100.00

I make roughly $500 a week, sometimes more, my goal is to pay these debts down, save up an emergency fund, and earn or save an extra $2,000 this year by mystery shopping ect. I am doing 2 envelopes for the 52 week challenge, …I am still trying to get back on track 🙂 I can’t pay it forward as much until I get this knocked down, Of course this is my motivation!

Update as of June 2,2016
First Savings: 250.00
Merrick : 800.00
Capital 1 : 300.00
Capital 1 : 400.00
Victoria S : 250.00
Kohl’s : 150.00
BOA : 400.00
Legacy : 250.00

Total: :2,812.00

My Daughter: 900.00
Rise Loan: 0.00 Paid 🙂
My Mom: 500.00
Fingerhut: 250.00
Total: 1,650.00

Total Debt: 4,462.00
Total Debt Paid down So Far: 2,638.00

Update: End of February Debt: 6,226.00 ~Hope to see a big difference at the end of March…Slow and Steady Gets the job done!U
Update: End of March Debt: 6,533.00~ Actually took a step backwards, but that is why keeping track is good so you can see this…I bought my daughter a TV from Fingerhut for $350.00 and bought myself some clothes since I have not bought hardly anything for myself in over two years, so my credit cards stayed the same or higher. I will try to knock it down in the next few months, but did pay some stuff down. I have changed the totals to be current.
Update: End of April Debt: 5,212.00 Really made some progress this month! Got the loan paid off which will free up more money to get the credit cards down! Like the little engine that could..finally I see a little progress!
Update: End Of May Debt: 4,662.00 I am loving seeing the numbers go down! Can’t wait until some of these credit cards have 0.00 balance, and I have all my other debts caught up and can focus on saving 🙂

Update for October: Unfortunately my debt went back up after the fire after all the stress I have endured, I decided to take a vacation, and all the hard work of paying down my debt was lost. I will start another post in January, and hopefully get back on track and stay on track :/. After such a big devastation, it’s only natural we will struggle financially for awhile.

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