Thursday, 21 May 2009

May Update

It's quite weird to see my debt balance as less than 5k, that was usually the balance owing on one credit card. What a strange journey I have been on. Okay what is happening this month?
I plan to pay a minimum of £1,100.00 off my debt - less than I had plan at the start of last month but my holiday spending was about £500 over what I had planned.
So my snowballing card which is currently at £1,812.10 will be reduced by 1k and my second card will be down £100. So total for the end of May should be £3, 754.51 not including interest changers.
My pay days are Sundays and so the cheques don't get banked until the following Monday or Tuesday so I will not be updating my figures until the monies have been cleared though my account.
In June I should clear my snowballing card and then I will only have one card left to clear before I can say I'm "debt free".
One unexpected expense for June is my helping out some friend move house which will include me taking some time off work and probably hiring a car for a couple of days. I will have to see how much it is all going to cost me and try and keep it all to a minimum. (Try really, really hard to do that!)
In the end of July I have my next Tax payment of 2k due but I am not including that in my debt balance because it will be a new debt and not an old one.

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