I am making a list of money that is owed and

**Shellshome** · 10-25-2006, 02:10 PM

I want to get paid by the end of the year so we will be free and clear starting the new year and hopefully have a good nest egg left at the end of december. I know I posted this one other time but wanted to get it all done and for me to see and mark it as it is paid off.

Gas company $330 (pay off at end of Nov)
Electric $338 (pay off at end of Nov)
Car fix $600 (pay off at end of Nov)
Phone, Cable, Internet $255 (pay off middle of Dec)

So that is a grand total of $1523

Also I have $413 on homedepot card (which doesn't have to be paid off until 9/07 no payment or intrest due) but want to get it paid off sooner. Would like to pay off total but if not at least $200

So that makes it a total of $1723

Our normal bills for the month house, cell and utilities and groceries and misc money is $1523

So the month of Nov our income should be give or take a little $3096 so after paying $1523 for the monthy expenses that leaves at least $1573 so with that money left I want to pay off the electric and gas bill which total $668 and th e$600 for the car which is on the high side the guy at the garage said would leave about $305 (which is so nice to see since we have been living pay check to pay check for so long) so should I pay off the cable,phone,
internet or save this money to go on to next month?

So then next month I would have the $305 plus $4694 which would make $4999 minus $1523 which leaves $3476. So if I don't pay off the $255 for the phone and stuff ($3221) $500 for Christmas finish, $200 for my glasses ($2521). So should I pay off the full balance of $413 on the home depot card or not worry about it since it is no intrest or payment for a year?

I guess why I am asking is because we are trying to get our life back on track and I wasn't sure if I should just keep the $2521 in a savings or pay the home depot bill. I mean we have never had that kind of money left after paying all our bills on time and also beigning current on everything else. I am excited because I do love my job and I am excited to have money coming in and also. So will the money left from Nov should I pay the cable,phone, int? and then with the left over in Dec should I pay the home depot off so we have no balance or have any money owing to anyone come the new year?

I am not trying to brag about anything but I am trying to figure out what would be best to do? I know that things come up that are unexcepted so that my amount left can change but I am just talking a round about figure.

Thanks for any help that anyone could give me. We have lived pay check to pay check for so long I don't know how to live any other way really and also living with no real money left over at the end of the month except maybe a few dollars here and there. We sometime have had to borrow money from parents to get by but I don't want to do that anymore and we are really trying to live better and I just wasn't sure if paying off that credit card is better or waiting since it is no intrest or payment until next fall.

I have learned a lot from everyone here and I thank you and I know that just because we have some money in the bank I don't want to change the way we live and do things. If it isn't broke don't fix it will be our motto around here.

**ewokgirl** · 10-25-2006, 04:55 PM

Personally, I'd just go ahead and pay it all off, then save everything else. You'll need it, believe me. Stuff just always seems to pop up unexpectedly.

**Nada.Leona** · 10-25-2006, 06:05 PM

With the holidays coming, any "savings" you have will get obliterated pretty darn quick.

i would pay off everything and then start fresh with a brand new slate come Jan. 1st. Then you don't have anything to worry about!

**Jenna** · 10-25-2006, 07:46 PM

How's your retirement savings?

I'm trying to fund my ROTH, so I'd pay off the HD card in monthly installments (say $50) til either it's paid or I've funded my ROTH.

I would also try to bump up my e-fund-- so I'd still pay $50 monthly to HD til the e-fund is closer to my goal.

**auntie2many** · 10-25-2006, 08:02 PM

You should have an emergency fund in case of house or car repairs... so be sure and try to save towards that. I would save some of the money that you were going to pay on the 0% interest card towards the emergency fund.

auntie

**Cricket1** · 10-25-2006, 08:12 PM

I would definitely pay off the Home Depot card. If anything came up like an emergency or job loss, you would get nailed with all of that interest if you are even one day late with the payment. I know you have until next Sept., but pay it now and get it over with. Home Depot has one of the highest interest rates. It's great when they offer the no pymt, no interest for 12 months, but just don't be one day late!

**Shellshome** · 10-25-2006, 09:20 PM

Thanks hubby and I talked about it and we are going to pay if off at the end of December. We have retirement and that is great but I want to be able to save a majority of the money at the end of December for anything that we might need that pops up.

Our goal is not to live pay check to pay check I hate having to ask my parents or his to borrow money so we have set a goal and we are hoping that we can do it. I think with a little push we can. We want all outstanding debt paid off in full before the 1st of the year that is our main goal.

Thanks everyone for your help! It has helped us make a desision.