Time to Pay Bills

I was pleasantly surprised when I got my pay stub this week. I thought my pay cut was going to be in effect and I budgeted accordingly, but I guess it did not go into effect in time.

I reworked my budget to fit my new (lower) salary. I deferred my federal student loan, the interest rate on my private student loan must have changed because my payment dropped by almost $100 (thank God), and I am working on lowering my electric bill.

New Budget

Pay Check 1 - $830

Student Loan - $556
Electric - $212 (Working on lowering this amount)

Total - $768

This leaves me with $62 for 2 weeks. $30 to fill my tank, that last 2 weeks and $32 for groceries.

My pay check was for $1085.

Surplus - $255

Magazine Subscriptions - $31 (I let the payment laps and was getting angry letters from them)
Book Club - $17 (I ordered a book about turning your craft into a business)
Target - $7 (I needed some lotion)

With the $200 I have left I am going to pay off some charges I put on my Master Card. Yes, I've used the card I paid off. I'm so ashamed, but I'm doing it so they don't cut the card off. I pay off everything I charge.

I also got my tax refund. I wish I could put my refund in my savings account or use it to pay down a credit card, but it has been earmarked.

Tax Refund - $995

Car Repair - $650
Sister - $245
Mother - $100

There goes my refund, but at least I was able to complete one more of my goals.

Goal Update

When I first started this blog I gave myself 5 goals.

• Pay off 2 credit cards
• Open Savings Account
• Save $600
• Pay Back Ex Boyfriend
• Pay Back Sister

Here is how I am doing

1. Pay off 2 credit cards - 50% Done

Between my tax refund and my "free check" in June (if I still have a job) I should have a
second one paid off by July.

2. Open Saving Account - Done

I opened an Ing account and have budgeted $50 per pay check to be deposited in the
account. I also have a Way2Save account with my bank that puts $1 in a savings account
every time I use my check card.

3. Save $600 - 25% Done

I should reach this goal in 9 pay periods (June 26th).

4. Pay Back Ex Boyfriend - 50% Done

I owe him $200. I should have this paid off by April

5. Pay Back Sister - 0% Done

I plan to start paying her back once I am done paying back Ex Boyfriend

All in all, not bad considering it's February.

Goals

Large Goals

1. Pay off credit cards
2. Increase credit score
3. Consolidate student loans to get lower interest rate
4. Open a savings account
5. Open an IRA and/or join my companies 401k

Steps to take to reach goals (to be done between 1/1/09 - 12/31/09)

1. Pay off 2 credit cards
2. Open savings account
3. Save $600


Obstacles

1. Car needs $700 worth of repairs
2. Need to get eyes checked and order new contacts
3. Owe sister $276
4. Owe Ex-Boyfriend $350

The question is, can any of this be accomplished on $2000 a month?

Stay tuned.