Update on the Stupid Credit Card Debt

Time to see the progress on the Stupid Card Debt.  After today's payment of $500.00, our balance is below $11,000.00  The new balance is $10,913.00.  

This is a huge improvement from when I seriously started to attack this credit card debt back on October 20,2011.  At the time the balance was $13,055.68.   Thus far we have reduced the credit card debt by $2142.00, and that has take a little more than two months.  

Our plans for this year are to eliminate the credit card debt.  This gives us 12 months.  In twelve months we will need to apply $910.00 extra dollars to the credit card to completely pay it off.  We can do this!! 

 And how can we do this you ask?  


Currently our living situation is different.  We are living with my parents because they both currently need supervision due to age and or health.  We are evaluating this situation on a monthly basis.  Upcoming decisions will be based on their health and ability to care for themselves.  




We still have monthly bills which include the following: 


Mortgage   877.00
Phone        183.00
Elec.           50.00 ( may be less, since we are not living there)
Ins.            128.00
Tithe          400.00
ING acct     65.00
                  1703.00


While we are caring for my parents, they are offering to pay for the groceries, gas and other incidentals.  I am no longer employed, since I gave up a recent teaching position to become a caregiver for my dad first, and now my mom.  This is significant since I no longer am receiving unemployment either.  We only have my husband's  income.     When my mom returns home, we are going to have to discuss what I will be receiving in return for taking care of her and dad.  


This will be an awkward conversation, but I am sure we will be able to come to an agreement.   If not, financially I will definitely have to look for employment. But we will see how it goes. 

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Works For Me Wednesday: Readjusting The ING Sub-Accounts

It is time again to re-examine and re-evaluate my ING sub-accounts.  Currently I have set up automatic deposits to the following ING sub-accounts.

LONG TERM SAVINGS           Not much going on here till Credit Card is paid off

CHRISTMAS CLUB                 This is part of my $500 Christmas Challenge

HOUSE INS 100 DOLLARS    Rental home does not have escrow in mortgage (paid by renter)

HOUSE TAXES 84 DOLLARS   Rental home does not have escrow in mortgage (paid by renter)

SHOWER GIFTS,BIRTHDAY,ETC   With our big family, there is always a birthday!

PET CARE ACCOUNT         This puts money aside for grooming, and check-ups

For the last 4 months (since my lay off)  The only automatic deposit was going to the Christmas Club account.  At that time, we just did not have enough money in the budget to successfully keep funding all of the sub accounts.   This year we have decided to keep automatic deposits going to the following accounts:

Christmas Club:   $20.00 every two weeks      $520.00 for the year

Birthdays,etc:       $15.00 every two weeks      $345.00 for the year

Pet Care                $30.00 every two weeks      $780.00 for the year

Travel:                    still working this in the budget. 

Without a doubt, there will be other expenses that occur during the year.  We currently have about $1200.00 in our Emergency fund to help cover those expenses.    The new year will be full of changes for us. We don't know how long my parents will need us to take care of them, but if it is long term, we want to move them out to our home.  My ability to get a job depends greatly on their status and their wishes.  My parents are fiercely independent and my have other plans for themselves.  Who knows!


 It is still one day at a time around here. 








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