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My Current Financial Situation
Okay, so in an attempt to put my money where my mouth is, I thought I would spell out every little detail about my financial situation at this time. This will allow me to track my progress and to look back and see how far I have come, providing inspiration and motiviation down the line.
Recent Financial Changes
Recently, I just went another $6,000 in debt with the purchase of a 2005 Dodge Dakota. This seems like a bad thing, except when considering that the plan is to sell my current vehicle, a 2007 Honda Civic Si, which I owe around $13,700 on. Once sold, assuming I get out of it only what I owe, I’ll be saving $7700.
Once the Honda is sold, I’ll have the $6,000 to pay off on the truck, and $2300 on my Discover credit card, for a grand total of $8,300 worth of debt. Luckily, I’ve come into a bit of extra cash lately, and I predict that I will be able to pay off that entire amount within 3 months.
But, until the Honda sells and I pay off the truck and the credit card, my monthly budget looks a little something like this…