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Mid-week Check In

January 17th, 2013 at 05:53 am

Still sick, but doing a lot better than the weekend.

My current job has bi-monthly pay periods. So I'm getting paid this week for the 1st-15th. After sitting down and calculating this paycheck and all the money I considered spent, I have a little left over. So, I am going to transfer $50 to my money market at the end of the week.

And, to keep up with my goal to get my credit card paid off... I decided to borrow on the rest of my line of credit $900 and added an additional $50 from my paycheck to pay down my credit card since the LOC has a lower interest. So now my LOC is at $5000 and my Credit card will now be below $7K. I know it's kind of silly to use one liability to pay for another liability. But, I figure the faster I am able to get the balance down the more money I'll save on interest.

Other changes I've been making have been eating at home. To be perfectly honest, once I had moved out on my own I decided that I hated cooking. Also, I work really long hours particularly during month end close, so it's was easier just to pick up dinner on the way home. I was eating out A LOT. Well, now with trying to get back on track, I've been working on eating what I have at home. I have been waking myself up earlier in the morning just so that I have time to eat breakfast, make my coffee and lunch before I head out the door. So far, so good.

I also plan to look at my monthly expenses and seeing where I can cut back.
I'll let you in on a little secret. Well, it's not so much a secret to the people around me. I have addiction to personal care items, like body soaps, shampoos and conditioners. I mean I have stock piles of products, it's actually kind of ridiculous and I probably should seek help. But, I told myself this year, I can't buy any new items UNTIL I FINISH my stock. I should be saving a lot of money right there. Smile

6 Responses to “Mid-week Check In”

  1. wowitsawonderfullife Says:

    You are headed in the right direction. Way to go!

  2. creditcardfree Says:

    Great changes you are making. Let us know when you finish those bath products...it will be interesting to see how long of a stash you have!

  3. twest Says:

    That eating at home will really help you save money. Way to go on your progress so far.

  4. baselle Says:

    Agreed with the eating at home. You don't have to be gourmet about it...not like takeout is gourmet either. I have 3 go-to recipes that are faster than takeout, so if you develop a couple of those yourself, you are ahead in time, money, and health.

    And enjoy the bath products - a good bath and a glass of wine is much cheaper than a psychiatrist or a defense attorney.

  5. snafu Says:

    Kudos for making the decision to pay down your CC and I'm guessing creating an Emergency Fund via Money Market a/c. Terrific 1st step to financial freedom from lenders. I suggest you write the numbers for balance, interest rate and how much of your payment goes to interest and how much goes to principal for a true picture of where the money goes.

    Foods made at home are so much healthier without all that fat and sodium in restaurant foods and the research says you save 50% making foods at home. Since you work long hours you might consider making a couple of meals on your day off. I suggest baking a whole chicken or two salmon steaks as the base for several meals. Adding a bagged salad and whatever vegetables you like and you'll eat. It fast and easy.

  6. Jerry Says:

    I am convinced that eating at home leads to more savings than most people realize! Not only that, but for lots of folks it also offers insurance of healthier food options. Good luck!
    Jerry

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