Wednesday, December 08, 2010

Financial Software...

Dave Ramsey's financial software arrived last night and...OMG this budget stuff is hard. I brought my laptop to work so I could start on it during lunch and I am like...WOWZA!!! Okay Chitown...get it together!!!

It's going to take me a little while to get the plan in order but I am working on it. I finished Total Money Makeover last night while sitting with my grandmother in the hospital. I thought about her life and how she wanted more for me and my sister. We both have to do better.

Since I do have $5,000 remaining in savings. After I put aside $2,000 for an eFund and before I start debt repayment, I have a few irregular expenses below that need to be paid and I am also thinking about pre-funding seperate ING accounts for my home insurance due in June and a small $500 fund for car repairs.

  • $120 Annual Vehicle Sticker
  • $300 Annual Attorney Registration

* Scratch that $500 for car repairs. That's the purpose of the eFund right?!?!?!


DreamChaser57 said...

Chi-town, your passion, resolve, and enthusiasm is jumping off the page, kudos to you! I can empathize with you, I know after I read The Total Money Makeover I was really fired up. I think it’s a smart move to set up ING accounts for car repairs and home insurance, that way these potentially hefty expenses will not derail you. Same deal with the irregular expenses you listed. You should still have enough with the $2K E-Fund and the aforementioned to pay off the $800 Capital One credit card - and maybe a hefty payment on the next one. You will be shocked and probably a little unnerved to learn that Ramsey’s plan does not value of regard FICO scores. A FICO score is neither a financial asset nor an indicator of financial well being. Good Luck to you!

Chitown said...

Thanks DreamChaser!!!

I really am motivated to pay off this debt.

I am going to definitely pay off the $800 Capital One Business Card and the $1,200 Capital One Card before month end. I just want to make sure my Mom doesn't need any help with the cremation services for my grandmother since she's in hospice.

I am going to try to pay off the $2,300 Perkins Loan and most of the $5,300 Private Loan with my annual bonus which I get at the end of January.