While it was my December goal to have the title loan paid off I do not think I made it and not because I lacked the funds. I am actually still waiting for an updated statement from them and they were closed a day or two for the holidays and may just be behind. Even though I may have to make a payment or two in January this is already feeling like a huge burden lifted and seems like a positive way to start the New Year. Thanks to the avalanche method I am also seeing the light at the end of the tunnel and am happy to be on track with my other debts.
In reviewing December’s expense tracking spreadsheet I could not help but notice that I spent a third of my net income on debt repayment and past due bills. Yes you read that right.... a third! I can hardly believe that myself and I definitely want that to change in 2015.
Arrears Audit
January 1st, 2015 at 07:21 am
January 1st, 2015 at 02:47 pm 1420123633
As we set goals for 2015, many of us try to balance figures with the 50/30/20 ratios in mind. It translates to spending 50% income for Needs like rent/mortgage, utilities, food, transportation, creditors; 30% for Wants stuff that makes life enjoyable, and 20% Savings which includes deductions for retirement & EF. You might jump to the Forum section and look at a few pages under the Frugal Q&A header.
January 1st, 2015 at 05:27 pm 1420133256
January 1st, 2015 at 07:46 pm 1420141565