Saturday, September 19, 2009

The end of an era!

My shop cards...I already said goodbye this year to any loan I had that was killing me with interest (that was over R20 000 in personal loans). I still have an interest free loan with work and my student loan that is almost interest free and costing me R200 a month. The beginning of this year, I also closed and cancelled 2 shops cards and had 2 left that totals to about R10 000, I am very happy to say that both those shop cards will be closed by the end of this year. I have also updated my side bars and have am proud to say that my accounts are under R60 000 now, I have a R5000 bench mark to feel good about myself, I actually do the same thing with weight, everything is in 5kg goals. I am sure to have it down to under R50 000 by January. Anyway...will keep you posted!

Sunday, September 13, 2009

Snowballing


So much has happened since I last blogged and I apologise for the lack of posts but I have had an absolute crazy time at work, and so the money keeps rolling in! The unexpected income...Since my last post, my work has so graciously allowed me to rent a townhouse from them till the end of the year for R1000 a month, that is R1500 less than what I was paying, it is fully furnished and has DSTV (cable, I think it's the same thing). The next thing that happened is that I cleared up a bit extra money last month with the cellphone credit I received from the mobile company and I decided to pay it off on my Kilimanjaro credit card, my interest on that card alone is about R500 a month! But even though I paid more into it last month, the interest didn't go down! That ticked me off and now I've decided to snowball from the lowest balance so that I can snowball that money into the next lowest balance. My lowest balance at the moment is my one shop card, I don't have the figures with me at the moment but I believe it's standing on around R3500, I will update it tomorrow when I am back at work, I plan on paying about R3000 on that card by the end of this month, that would mean I can clear the balance by the end of next month and have an extra R170 to put into the next shop account which is standing on around R5500, plus the R1700 I'm saving on rent and petrol, so that would be an instalment from R350 to R2220. My car is also breaking, so that might mean car repairs soon, but I've decided not to let that worry me for this month, hoping to just get all my car repairs done in December with my major service.