Revised Budget.

**Kerjack** · 06-08-2009, 07:36 AM

Ok so this is my revised budget.

$460 - Rent (Includes all utilities)
$100 - Food (I split food with a roomate and she rarely eats at home)
$ 60 - Cellphone
$100 - Spending
---------
$800

My spending money will include my personal items as I do not buy a lot of anything, besides food. And both our parents routinely give us shampoo and conditioner, and stuff along those lines. My health insurance is taken right out of my paycheck. Around $30/month I believe.

The rest of the money will go to debt. I have a CC that is 19.75% and is currently down to $951/$1200. And I also have about $240 in cell phone debt that will be paid off on the 19th.

I currently work 70 hours every 2 weeks, at $11/hour. I get paid bi-weekly.

**kita** · 06-08-2009, 07:50 AM

So you have about $200 or a little more for debt payment? That seems good. Everyone is going to pick at your numbers, but at long as you can live with them for the long run, it should be okay. Plan to take extra out of your spending for Christmas...you should be fine.

**elphie** · 06-08-2009, 10:05 AM

This looks like a great start to paying off your debt.

A few things you may already have thought about but just throwing them out there...

-Does your rent include all of your utilities (water, electricity, gas, cable, trash service)?
-What about transportation expenses?
-Do you have an EF for unexpected expenses? (car trouble, chipped tooth, trip to the ER, etc.)
-Will you have any work related expenses (tools, wardrobe, etc.)? If so will your spending money be enough to cover those?
-Do you need renter's insurance (if there were a fire or break in do you have anything of value that the owner's insurance wouldn't replace)?
-What about household expenses such as cleaning supplies, light bulbs, trash bags and laundry detergent?

Like I said, you may have already thought of these but if not don't stress, a budget is a living document, not something you do once and forget about. If you have a hard time sticking to your budget and you know it isn't because you are blowing your money on shoes and take out then keep track of your expenses for a while to see if things like lightbulbs and busfare are eating more of your budget than you originally anticipated.

ETA: Have you called the CC company, if they tell you they can't lower the rate keep asking to speak to managers until you find someone who can. I'm not usually a proponent of opening a new account but if they won't work with you then you need to get that debt transferred to a lower rate card, you are swimming upstream with an interest rate that high. Good luck and (((hugs)))!

**kmonokwe** · 06-08-2009, 12:04 PM

As the others have already said, I think you're in a great position to get out of debt. The trick will be NOT using those cc's anymore! Cut them up and leave them behind, and you'll never have to worry about cc debt again

**Kerjack** · 06-08-2009, 03:39 PM

Thanks everyone!

The good news is that it"s only 1 CC I'm paying off and it is already cut up.
Rent includes all of my utilities, and as for lightbulbs and stuff along that point I have a bit of money set aside for that, but because I'm barely ever in my apartment, I don't need them very much.
Transportation expenses are none cause I just walk to work everyday. And the boyfriend won't let me pay him for gas so I can get out of debt.

The only thing I'm concered about is not having a EF. I will start that when my debt is paid off though.

**kmonokwe** · 06-08-2009, 04:25 PM

I would suggest that you put aside a small EF - $500-$1000. Something you can knock out really quickly, and have there while you get out of debt. This way, if something pops up, you don't have to derail your debt plans. And it should only take you a month or two to get it set up!