posted: Nov. 18, 2012 @ 6:04p
I'm submitting my financial future to the community here. My goal is to get out of debt as quickly as I can but without sacrificing everything that I find fun in my life.
This is what I feel is the important stats
I work 35 hours a week for a state agency. My pay right now is around 47K a year.
I have no car payment but my car is acting up and it may be time to replace it.
I share a house with family and pay $360 a month
My Car insurance is 160 a month.
I do not know what I spend on food
My cell phone plan is 122/month for a phone and a tablet
Phone plan is 450 minutes a month, with unlimited data, text, Mobile to Mobile , nights & weekends I use between 6 and 10 GIGABYTES a month on my phone. The contract will expire in July of 2013
Tablet Plan is 39.99 a month including insurance and 2 Gigabytes of data. I have never gone over the data allotment, The contract will end on this device in August 2015.
Out of my paycheck I pay the following pre-tax besides state, federal, fica, unemployment, family leave and disability taxes
122 a pay period into my pension.
8.90 a pay period for dental coverage
27.53 a pay period towards my health insurance
85.66 a pay period to a deferred compensation plan
The following are post tax charges each pay period
9.18 Insurance (not sure what it goes to but is mandatory)
21.12 Union Dues (mandatory)
8.00 United Way Donation (will end in 4 weeks)
My job does not offer an IRA or 401K but a Guaranteed Pension based on age and time of service. I am eligible to take a loan against my pension with a 5% interest rate. I believe the most I can borrow at this time is 5,000. Payments would be by payroll deduction.
I have about 1,400 in a rainy day fund, 16K in a self directed IRA that I had rolled over from a 401K at a prior job.
My fixed debts are as follows
Personal Loan for 10,126 at 10.99 % a month. Monthly payment is $250 a month
Here are my credit cards in owe/limit/rate
Card 1 1075/3000/12.24
Card 2 255/1000/0 until March
Card 3 469/2900/16.20
Card 4 958/3000/19.8
Card 5 1315/2200/22.99
Card 6 200/1000/21.99
Card 7 3955/5000/5.99
Card 8 2914/4000/5.99
Card 9 1185/15000/15.65
Card 10 3364/10000/9.99
It is difficult for me to find a second job because anything I apply for has to be approved my the state to see if there is a conflict of interest before I can start working. My car has 110k on it. Private value according to KBB is 7000. The car is starting to have problems again and if my mechanic believes it will be an expensive repair I am going to try to sell it and buy a new car.
My credit scores are between 680 and 720 depending on which scoring module is used. My mother will co-sign so I would get the best rate. I am considering a Rav4 which I know Toyota was offering 0% on. I don't know if they still are.
I rarely go to the movies, I do go to a comedy club often, Tickets vary between 20 and 35 for the show plus a two item minimum. My bill for the two items is normally around 9.00. If the bill is under 15 I will tip 80-100% on it. I do get some "perks" at the club which are important to me. I believe that the tips I give are one of the reason I get the perks I have.