Friday, November 23, 2007

How am I doing?

It's been a very hectic week. I started my new job on Monday and then yesterday was Thanksgiving (whew)! Last Friday, I made a total of the amount I had spent this month. I'll tell you, this budgeting thing takes time and commitment. Plus it's a work in progress!

Anyway, as of November 16, I spent a total of $1,371. My income was $1640. I took $100 from my pay as cash for discretionary, which left me with $149 in my account until this Friday. The largest expense was groceries, which was $501. I spend about $70 every two weeks on supplements and I include that amount in groceries.

As for my debt reduction, I paid off one credit card using retirement savings. I'm relieved that I don't have that debt, but emotionally I feel that I should make a plan to pay that back. My normal debt reduction activites were the $250 to my remaining credit card and $100 to the medical expense. I've updated my financial freedom chart on the sidebar through today.

I am so inclined to say forget this, but I think about how disciplined I was when preparing to compete. I know I need that same commitment and focus to release my debt shackles and become financially lean and strong.

3 comments:

Mrs. Micah said...

Sounds like things are good on the whole. Budgeting isn't something which gets perfect overnight, but the process brings good results! :)

Elizabeth said...

Stay the course, wealthy_1. I know it can get discouraging but it's just that you've hit a little plateau. If you keep plugging along you'll get over this hump and things will look good again soon.

wealthy_1 said...

Mrs. Micah and Elizabeth,

Thanks for your support!