Wednesday, August 31, 2011

Debt details

In the works of my budget, my would-be disposable income is made of $60 food budget every two weeks, $40 misc, and $50 gas for my car, for a grand total of $150. That's it. The rest is already planned to go somewhere else. Including debt/savings/snowballs. At least, that was my intention. Which sort of makes you wonder... I haven't seen the $40 misc in months, as it gets used in gas (thanks, $3.50/gal gas!), and the fact that when I go home, they use my car and they never fill it back up. So what the heck? How come I'm not able to pay down debt super fast?

Easy. Family. I'm paying for the car I don't use that isn't mine. Before that, I was paying for the full car insurance policy for 5 people, me included. And not a cheap insurance either... but besides that, every time I go home, I end up buying food for that household on top of mine. That's a very strong leak, but I can't seem to plug it. Instead, it will end being a permanent part of my budget. But. One month, that little extra to the household became $600. Another month, it was only $100 (keep in mind I am already contributing an extra $100...). Then it would become $300. Right now, it's looking like $400. Oh yes, it is quite out of control. I guess it's easier for people that don't have to support two households... though most people would say I don't have to support that household because I am no longer in it. If I am, it's just on the weekends. It's my parent's house, that I am talking about, by the way.

For August, I bought $80 EXTRA in gas. Add that to $150 buying tires for another car because they needed them and I offered, and about $50 worth in food. That's close to $300 and we're not even done yet...

Anyway. Yeah. I'm gonna grind my teeth and just work on snowflakes.

As it stands right this second...

I have:
-$5828 in consumer debt ($3,828 CC1/$2,000 CC2).
-$7112 left to be paid on the car.
-$11,889 in student loans ($9,816 L1/$2,073 L2)
Total: $24,829 (or only $17,717 for my portion not counting the car).

Payments on all things come to a combined total of $732 a month. It looks that at this rate, if I can start snowballs, I should be done with the car in 17 months, and done with my CC1 by 19 months. The big loan is what's going to take the longest, at 40-some months last I checked. But for a while there, that's the only debt I will be paying.

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