Tuesday, July 25, 2006

Break it on Down

Well a couple of weeks ago I posted how I wasn't worth jack spit!!! (Yeah I thought that title was cute too) Anyway a few things have changed, you see the one that says car loan? Well it is no more! That sucka is paid in full thus far reducing my debt. I'm still back flipping and thanking my Lord.

DebtsMortgages 0
Student Loans $12,000
Credit Card $1,600
Car Loans was $8,000-now $0.00
Other $5,000

Total Debt $18,600

Now everyone is not going to agree with me taking my financial blessing and paying off the van first but hey, I had to do it. Here's why, I have poor credit and the interest rate on that loan was off the chain HIGH I saved a couple of thousands paying that off first.
*I also gave to my church I didn't just get blessed and didn't bless the house of the Lord*

The actual car note was $250 per month so that money will be allocated toward paying down the debt. Later on or tomorrow I will list each debt and the balance so I can have a running total and high light them red when paid!

As mentioned in my last post I received a promotion meaning a $5000 dollar a year raise, half of that will be invested in Disgruntled Sista's retirement/Roth IRA so she won't be broke and disgruntled in her old age. I wanna be laying on the beach sipping on happy drinks! The other half will go towards paying off all debt until it is eliminated. Then those monies will be saved and/or invested. The plan is to continue living on the current salary.

I have so many things going on in my head I am forcing myself to blog it or write it down (that's my ADD kicking in).
I went to the library since I'm broke and checked out Suze Orman's book "The Money Book for the Young Fabulous & Broke". Started reading it last night and immediately joined her YF&B club. The book is full of wonderful easy to understand and apply advice and the website actually is interactive and it developed an action plan for me according to my circumstances.

I have homework that I'll post here as well. Anywho I need to get busy I got my credit reports and I need to dispute some things on there and the other stuff I need to get busy paying...(I have my ex husband to thank for a lot of that). No need crying over spilled milk he will and shall get his.

A sista feeling kinda good
Still Broke but feeling better
Peace*2fingas*

7 comments:

Common Cents said...

congrats! on paying off the van.

man, i am in a similar position, although i have DECIDEDLY MORE student loan debt. but my credit is also "very poor" so i look forward to watching you grow. you seem to have a good plan. i will also check out Suze's book. i watch her show, but a lot of the time those stories aren't my stories. but i'll read the book. at this point...anything can help!

suerte!

Single Ma said...

Congrats on the promotion!

Congrats on paying off the car!!

Congrats on the renewed spirit!!!

Girl, you just doin it ova hea!

I'm not a Suze fan myself, but I can dig it if she's helping you reach your financial goals.

BTW, I have ADD too (self diagnosed)!

Tired of being broke said...

Am doing a happy dance for you right now with paying off the van. That is definitely a big deal.

Broke and Disgruntle said...

@Common Cents It all start with a plan! I learned that long ago but a Fab Single mom reminded me of that a couple of months back so I started drawing up my plan, now it's execution time! I'll be pulling for you every step of your journey.

@Single Ma...Thank You Thank You Thank You! Oh yeah and that ING account you helped me get straight is GROWING! I had to start somewhere so I picked Suze's book, I really don't care for her because I'm trying to get out of debt and she's selling me everything from a Will Kit to a FICO score, she's definitely getting her hustle on!
The ADD...I took the online test! I'm self diagnosed as well!

Broke and Disgruntle said...

@Tired...Thank You I'm still dancing!

Anonymous said...

Very pretty site! Keep working. thnx!
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