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PayDay

June 17th, 2011 at 06:44 am


I have decided to post my paycheck each week and what is being paid. A couple of notes though…there is $100 in the account that I don’t count. So although it says there is a negative balance, that is not accurate. Airfare…sister purchased ticket I am paying her half of ticket price. Transfer to rent account is replacing money I borrowed from the renters damage deposit. Groceries and gas are estimates. Car payment is only $350 but I am trying to pay $400 each time. Transfer to Son is rent paid by the renters that needs to be paid back to him since he loaned me the money to pay the mortgage.

Beg Balance -69.83 -69.83

Work 1080
Child Support 339.42
Total Income 1419.42

Contacts 100
Transfer to 100
rent acct 100
Gas for 2 weeks 250
groceries 150
credit card 100
Telephone&
Internet&TV 176.3
Water 51.08
Cheer Pictures 60
Airline Ticket 20
DD Shoes 60
car payment 400
homeowners insu 66.58
transfer to Son 80
Total Payments 1613.96

Amount short -264.37

As you can see…I have a shortfall for the next two weeks. Ex DH should give me $160. That leaves $104 shortfall. Since there is $100 in the account I don’t count, I am good. Plus I don’t expect to pay the full groceries or gas allowances. It will be very tight but doable. Just need to control my eating out.

3 Responses to “PayDay”

  1. PNW Mom Says:

    I am wondering if that extra $50 you are paying on your car could go to something else? It's great you are paying extra but maybe having that extra money around could help you to avoid a shortfall and/or you would have a bit more cushion for some of those extras that we all seem to have come up.

  2. creditcardfree Says:

    I also would suggest a 'break' on paying extra to car or credit card. It is very commendable, but I think you are sabotaging yourself. A break of several months, along with curbing the eating out, may help you find a place where you can find yourself with a cushion every payday. The hope, of course, would be that you don't need the cushion, but it is there if you do. This might also put you in a place to build an emergency fund, which is very critical. I think this is more important than paying down debt.

  3. BuckyBadger Says:

    I was just going to say the same thing. It's nice to pay extra toward your car and your house, but is it really worth it if you have to borrow a few hundred dollars from your parents every few months? Most people wouldn't recommend paying extra on things like that until you have paid off things like your credit cards, have funded your EF, adn don't have to live paycheck to paycheck.

    What else could you have paid off with the extra $2,000 you paid toward your mortgage last year?

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