4. Payday!

Posted by

Payday was actually yesterday but I’m going to handle all of our payments today. As mentioned before, I use a “Bills Budget” to take the thinking out of what needs to be paid from each paycheck. I make all of those payments on Payday and what I’m left with goes to support the Household. From this paycheck, my Bills Budget shows I am to pay $4,166 made up of the bills below:

billsbudget11.23

Our pay after taxes is $6.392.57. It looks like my 401k deductions are still occurring so that extra money isn’t available to pay debt. Also, my Investment Savings notes $415, but I’m taking $315 of that to pay debt. Also, we decided to postpone Gift and Travel savings given I’m expecting. I will remove those from my Bills budget for next payday. Now that bills are paid, we have about $1,800 remaining. I am going to set aside $800 for groceries, gasoline and just living for the next two weeks. The remaining $1,000 is going to pay down Credit Card 1 which has a balance today of $2,617.55.

Alright, bills are paid! Extra debt payment made! I’ll post again before next payday for any interesting updates as well as once the money from steps 2, 4 or 5 of my payoff plan come through. Check out the “I’m Tired of Debt” post for a reminder.