First, a recap of my February goals:
For February, I’d like to accomplish the following:
- Pass my midterm test this Tuesday. Hell yes! Missed only one and got a 96%!
- Keep up on my reading and homework. Yes, I continue to stay focused!
- Complete my $5,000 baby emergency fund! Yes! YES! YES! With taxes, bonuses, we got slightly more than I expected and currently we have a FULLY funded Emergency Fund at $10,000.
- Pay $832.42 towards our visa card Yes! Sent them lots of money!
- Log in my eating on weight watchers & myfitnesspal. FAIL! I was good for about 75% and then studying etc got in the way.
- Run 4 times a week. Check, Check!
- Lift weights 3 times a week. Check, Check!
- Keep Quicken up to date. FAIL/PASS When Quicken cooperated I kept it updated. However, it failed more than it worked. Still holding out from spending more $ towards a Windows laptop.
- Keep my checkbook balanced! Pass! For the first time in at least 2 years. LORD HALLELUJAH!
For March, below is our budget for the month. The grocery is so sporty for us but I am going out of town on business for the next week and we have tons of food left. I know I have to pay for the kids’ swimming lessons this month as well as baseball for my two youngest.
With respect to actual goals I want to target, they are:
- Run 4 times a week.
- No eating out!
- Spring clean from 3/19 to 4/1!
- Purge my closet once again.
- Paint the girls’ room.
- Throw all overtime money towards Visa.
- Call Comcast and negotiate a better cable rate or else cut back on it or CANCEL cable!
- Send out letters disputing the inaccuracies on my credit reports.
- Sign up for classes for Spring Quarter.
I am really into snowflaking and or snowballing debt repayment. If you follow Dave Ramsey at all, this is the method that he uses in his book. Anyhow, since I am gazelle intense (ha, another Dave reference) on paying things off, I thought I’d start a new series to hold myself (and you if you’d like) accountable.
So, what constitutes a snowflake or a snowball? Essentially, for me, it’s any extra money that comes my way that I wasn’t planning on. For example:
- Things sold on eBay, craigslist, or unused items returned.
- Extra paycheck if you are on bi-weekly pay.
- Any extra money from a 2nd job or overtime.
- Any raises received.
- Any money received in bonuses.
- Any tax refunds.
- Any extra cash received as gifts, etc.
This past week I sold my Blackberry Bold 9930 from Verizon on eBay for $320. I love that phone, however, I have the identical phone ordered for me at work. I paid $199 for my phone and ended up making a tiny profit. I also worked some overtime, and received $400 additional in my paycheck. Those two things alone added to a $720 extra payment to my targeted debt, which in this case is my visa. This payment is on top of the $650 that I just sent them on 3/1, making my total payment to them $1370.
On my spreadsheet
I actually projected an additional payment of $1350 for the entire month of March. This bit of extra money will make my goal achievable much faster. I still have 2 pay periods left and just got a raise yesterday where I will have a bit of extra money coming in. My biweekly payment of $650 will be increasing to $760, or approximately $1520 a month. I haven’t had the time to play with my spreadsheet yet but I am certain that this will make me debt free sooner than May 2014!