Financials: Where Am I?

Considering you don’t know me, I believe I can list part of my financials here without fear of being kidnapped – that’s a (big) joke and you will understand it once you see my numbers.

The idea of this exercise is to keep track of my progress in many areas, including savings and credit card debt payment. Hopefully I will see the first one increasing and the latter decreasing in time.

SAVINGS

  1. Nickname: Down Payment – this is my savings account for a down payment on a home. This account has a $50.00 automatic transfer set up (from my checking to my savings every 14 days)
    Balance on July 13th 2008 – $59.44
  2. Nickname: Travels & Indulgences – self-explanatory title. This account has a $50.00 automatic transfer set up (from my checking to my savings every 14 days)
    Balance on July 13th 2008 – $55.17
  3. Nickname: Unemployment Fund – also self-explanatory. This account has a $50.00 automatic transfer set up (from my checking to my savings every 14 days)
    Balance on July 13th 2008 – $52.29
  4. Nickname: Business – this is the savings I will use to fund my business ventures. This account has a $25.00 automatic transfer set up (from my checking to my savings every 14 days)
    Balance on July 13th 2008 – $173.15

CREDIT CARDS

  1. Chase #1 (APR 2.99% for life)
    Payment plan: $150.00/month – 21 months to pay it off – $79.09 paid in interest
    Balance on July 13th 2008 – $2,965.89
  2. Citi #1 (APR 0.00% until April 2009; 9.99% for life after April 2009)
    Payment plan: $200.00/month – 26 months to pay it off – $207.70 paid in interest (includes 10 months of 0.00% APR)
    Balance on July 13th 2008 – $4,729.07

So, this is it! I have a lot of work to do to increase my savings and reduce my credit card debt. I will keep you posted.