Sunday, November 8, 2009

November Spending Plan - Part 1

I was finally able to get in contact with Sallie Mae and for the low, low cost of $150 my 3 Sallie Mae loans are in forbearance for the next 3 months. I know it will cost me in the end but my money is so tight right now that I have to think short term over long term.

My cash break down is

Paycheck - $850

Sallie Mae - $150
Electric Bill - $170
Master Card - $70
Gas - $24
Sally Beauty Supply - $31 (I needed a new blow dryer)

Total - $445

Surplus - $405

Over the next 3 months I will have $1500 cash from not paying my student loan. The question now is what do I do with the money?

A. Put it in my savings account
B. Pay off my Master Card (again)
C. Put half in my savings and use half toward credit card debt

I could use some advice.

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