Documenting our financial journey to financial peace!
About Me:
Gretchen
I am the mother of two with one on the way. My husband and I both work full time. We are blessed to have my mother who takes care of our children for us while we work. Our whole relationship we made poor money decisions and it's now crisis time. We have had more and more money going out and now we're in a pinch. We have decided it's time to turn things around...for good this time!
DEBT AS OF DEC. 31, 2009:
Mortgage $144,714.97
Home Equity Loan $38,766.17
Cars: $24,840.71
Student Loan #1 $38,192.57
Student Loan #2 $16,649.01
Take Charge America $20,100.00
TOTAL DEBT $283,263.43
-------------------------------
JANUARY 2010 GOALS:
1. Implement montly budget.
2. Use the envelope system for cash-only spending.
3. Document ALL spening for the month.
4. Continue putting money (all extra income from photography business and all money from selling unneeded items in house) toward Emergency Fund Savings to establish a minimum of $1,000 by April 1st.
-------------------------------
BIG-PICTURE GOAL:
(begun 1/1/10)
Complete short sale for 1st and 2nd mortgage and no longer have morgage payment(s).
Reduce debt (minus Mortgage and HEL) by approximately $20,000 by paying off Take Charge America THIS year.
Current balance (minus Mortgage and HEL) as of 12/31/09: $99,782.29