7. Payday!

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We got paid on Friday! And now it’s time to pay some bills. Looking at our “Bills Budget” we have $4,837 in payments to make, made of up the items below:

billsbudget12.07

My 401k deductions stopped this paycheck, so I do have that extra money to pay down debt. After taxes, we received $6,473.80. After paying bills, the balance is about $1,600. We are taking half of that for groceries, gasoline and other things that come up over the next two weeks. The other $800 is going toward paying off the balance of Credit Card 1.

After making this additional debt payments, AND completing Steps 1-5 of The Plan, our debt now looks like this:

debts12.07

We have paid off $18k since we started. When I look at this number, even though we have pulled money from savings, I feel quite a bit of relief! If we have any interesting updates prior to next payday, I’ll be sure to write about them! Until next time…

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