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Written by money funk on December 7, 2009
I update my budget around the 7th of the following month. You can see that here. It time again to analyze the direction we are going with our funds.
The graph (below) reflects recent snowball payments – the red bars (Jingle Bells, Jingle Bells) should be comparable to July; this month went well (especially considering it’s the holidays!). We knocked off -$1517.13 from out debt total. Making the debt total stand at $73,059. I can’t wait to to hit the $70K mark (it was exciting when I hit the $80K mark).
November’s Net Worth
I like to keep track of my net worth because I have never been in the positive and when that time comes I want to be sure I realize it (so I can jump up for joy!). As you can see, there is not much change on my NW. That’s because a majority of the debt payments are on the credit cards we share together (captured on the couple NW). Although, with me now paying a lovely sum of $330 a month to my student loans now (started this December) I should see an increase in my Net Worth or a decrease in the negative NW total.
My Personal Net Worth + $535.00
Couple Net Worth, we are doing good. One of the retirement loans is almost paid off ($3,000 more to go). When that becomes paid off it will give us $440 to put towards our debt snowball. Will be sweet!
As a Couple + $2,521.09
Reflects NW against $150,000
One area we lack is our Emergency Fund; definitely not up to par and it makes me feel uneasy. But, we are aware and once I get used to paying this hefty student loan payment we will work the finances to get that EF back up!
Emergency Fund - $815.00
Overall, it’s been a positive month. I won’t say it’s been easy. We are sacrificing alot and that is not easy to do around the holidays, but I know that it will totally be worth it! Right? *positive thinking, positive thinking* I keep telling myself. Onward! to lower debt and a higher net worth!
BTW, I am still on my sell everything mission (click link and read posts from the bottom up to follow my journey). Be sure to update you soon!
Article by Christine
Hi! I am the mind behind MoneyFunk.net. What started out as a blog to hold my family accountable for climbing out of $89,000 debt, has morphed into a community of bloggers & readers all vying for the same thing – ERADICATING DEBT!
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Good for you – keep up the amazing work!!!
Thank you, jpkittie! I have to say that even though the journey seems slow, I can begin to feel the excitement of living a debt-free life.
Awesome job! I’m going to have to do something like this on our website.
And it is worth it! Keep it going, the train doesn’t stop here.
Thank you. It really does help to keep a spreadsheet of each month’s tallies. I know it can be a lot of work, especially in the beginning. But once you get your system set up it will be a breeze.
I don’t think I’ve blogrolled you yet. Let’s do just that! Added.
Looking good! I also like graphs and charts. It’s nice to see a picture representation of our debt going down and our net worth going up! I don’t think we have our information in graph form right now — just a spreadsheet. You’ve inspired me; I think I’m going to make a graph tomorrow!
Hey, thanks for stopping by. I hope you’ll share that ice sculpture on your blog!
I like graphs. It is cool to see where the progress lies. Now if the red bars in the first graph would just keep going up! lol. Oh ya, and the red bar needs to fill up on the EF bar, too! Hopefully, I will be able to get a bit more aggressive with the finances after the holidays.
Good going. I love your attitude–sometimes dealing with debt feels like rolling a BOULDER uphill. When I read this, I take my own attitude out and shake it hard!!!!
Thanks. (tis not always easy to keep the chin up. Then again, I would rather keep my chin up then be glum.
)
I am glad you are shaking out your own attitude. I hope everything is well! And you’re staying warm, too!
Nice job Money Funk,
You are making some good progress. I’m about to hit the 80K mark next month. I’ll be putting up my monthly net worth soon. I’ll try my best to catch up to you
Thanks, Jeff! Looking forward to your NW post. I think it’s important to do a little celebration for hitting the $80K mark. Especially after all those pizza deliveries you do! Crazy cool the progress you’re making.
Hmmm… I’m hearing a challenge.
Great work Money Funk! It’s all about going in the right direction, which you are!
Just get super POed about credit card debt, and know they are just making HUGE spreads off consumers. That’ll keep you going on your debt reduction path!
Congrats!
Thanks! LOL. Funny you should say that. And I did get POed about credit cards today via Examiner. Course, I should have used some huge monetary example, but I kept it on the mild side.
Now that I understand and know all about credit cards, it does make me ill to think they are making +$3K in interest from me. *bleck*
It WILL be totally worth it. And you’re doing so awesome. I’m so proud of you. *sniff*
LOL. Thanks. I am starting to dream what i would be doing with my debt free life. And I have to say it’s gonna definitely open some doors of adventure for me!
It’s always a good thing when you are in the black!!! You are doing a great job tackling your debt!
I too, suffer from a very small emergency fund. Hopefully 2010 will be the year I can fully fund it!
You mean the green, eh? JINGLE BELLS, JINGLE BELLS! LOL. J/K. Thank you! Lots of trying to be persistant.
Ah, I feel so uneasy with the small EF. But after replacing/fixing water pipes and then the motorcycle had an issue.. we just haven’t seem to be able to get it back up to par, darn it! I hope in January to be agressive in getting where it needs to be! *happy holidays*
Congratulations! There’s nothing like hitting benchmarks. Love the graphical representation.
Thanks! Can’t wait to keep hitting further benchmarks.
Great work! I love the bar graphs, but then again, I love all kinds of graphs.
Looks like you are working really hard at paying off your debt and saving, keep up the good work!
Thanks! I love charts and graphs, too. I like to see the visual representation of my progress. And I am trying to keep the motivation to pay off the debt, but sometimes I just want to warp speed thru part of the journey. Then again, I guess I would probably miss out on half the fun!
BTW, I would love to live in a tree house. HGTV showed a tree house in Ohio – I was totally jealous!