Why does time go so fast - it seems just the other day that I unretired my blog and now it is already a week later.
Okay here are my debt balances:
Start Debt: 7/12/06 Today: 5/16/2007
Home Remodeling: $345 PAID
CC1: $715 PAID
Timeshare Levy: $730 PAID AND SOLD
Bank Overdraft: $929 PAID
Loan from Dad: $857 PAID
Swimming Pool Renovation: $1429 PAID
Private School Fees for 2007: $3000 PAID IN FULL
Car Loan: $11073 Now $ 6997
Bank Overdraft 2: $7000 PAID
CC2: $ 13716 Now $ 9203
CC3: $ 15918 Now 14 059
HEL & Mortgage: $171 429 PAID AND SOLD
TOTAL DEBT: $236 978 Now: $30 259
Paid $206 719
Hahahahaha - Can you believe it 
:0
I can't!!!!
But here is the downside - I no longer own a property so don't have a property which is appreciating in value.
I have decided ala Dave Ramsey that I am going to finish paying off my debt and then save like crazy so that I can either pay cash for a new home (don't want a big house again, an apartment is fine by me) or put 50% down and get a mortgage for the balance.
My EMF is established - I kept some of the money from the house and have $9425 saved.
Also, bought a new sewing machine - just decided that we have made so many sacrifices to get this far that I could treat myself. (I know a good excuse )
Spent $ 3425 for a new machine and embroidery unit.
When I buy a sewing machine, I keep a log of everything that I make and the savings and make sure that the machine pays for itself. My old machine paid for itself 3.2 times.
Have already saved $68 by making curtains, altering clothes for DD and making a new bathroom set.
Will keep a log here and show how it works.
BTW my banking accounts actually have a credit balance for the first time since I don't know when - $142 in Acc 1 and $214 in Acc 2.
Am really enjoying my life again - it is so nice not to have worry about maintaining a huge property, pay an enormous mortgage and all the taxes that go with it.
Have also managed to buy DD new school uniforms, replace school bags and new sports uniforms.
The way I figure it now, is that we can now get back to being really frugal and get rid of the last debt and then go crazy with our savings account.
The $20 Challenge - will make this a real account now and save leftover amounts from our monthly budget and any refunds etc.
Working full time now and back in corporate life has its own challenges and has demanded more adjustments. At least I earn a regular salary now and have a high earning potential through commission. My business expenses are covered which is also great incl cell phone, internet connection, gas for car and a contribution for car servicing.
I am a happy happy camper - I love my life and am really pleased that we made all the changes.
Will end off now - have really had a long ramble...
Updated Debt Balances & ramblings
May 16th, 2007 at 12:36 pm
May 16th, 2007 at 04:50 pm 1179334219
May 16th, 2007 at 04:53 pm 1179334404
Yes I convert the local currency using R7 as the Rate - that way it is understandable for everyone. It also means that I am tracking my progress in Real Money.
Thanks for the encouragement
May 16th, 2007 at 04:55 pm 1179334546
May 16th, 2007 at 10:06 pm 1179353194
May 17th, 2007 at 01:25 am 1179365128
May 17th, 2007 at 01:25 am 1179365154
May 17th, 2007 at 06:49 am 1179384593
Speak to you later
May 17th, 2007 at 06:56 pm 1179428193