In the name of honesty, I’ve decided to unleash what my real budget looks like. A few logistical notes, I keep the budget on Google Drive, so it can be with me anywhere I have my phone and I can update in real time to put in my actual spending. This budget goes into effect June 27th (payday!). The first step is to track my actual expenses vs my projected expenses for one month.
|Income 1 – Paycheck 1||939|
|Income 2 – Paycheck 2||908|
|Bank of America||49|
|Bill Me Later||35|
And this is the spreadsheet I keep for my debt, including a “snowball system” where I pay the smallest amount off first, paying double the minimum. Once that debt is paid off, I take the total amount I was paying on it, and apply it to the minimum of the next smallest debt. Momentum! I also set “next step goals” and “percentage paid off” formula to cheer myself on and see the debt diminishing.
|Debt||Amount as of June 25, 2014||Interest||Minimum||Snowball||Total Payment||Very Next Step|
|Capital One – Credit Card||725.76||13.90%||25||50||75||Under 700|
|Paypal – BillMeLater||953.19||19.99%||35||75||110||Under 950|
|American Eagle – Credit Card||1616.27||??||48||110||158||Under 1600|
|Nelnet – Student Loans||3769.2||??||50||158||208||Under 3760|
|Bank of America – Credit Card||4961.52||0% until August||49||208||257||Under 4950|
|Total Current Debt||12025.94||207|
|Amount Paid Off||0|
|Percentage Debt Free||0|