I am not making the $500/m payments to my credit card, as planned. I only paid $300. this month. But I am down to $12,999. on my balance. At least I am going down. I also started a monthly emergency fund, automatically deducting $166./m out of my paycheck. So far, it doesn't hurt too badly. I still need a solid monthly contribution to my IRA, (I'm aiming for $360./m), and an increase in my "miscellaneous" allowance. I just made a separate account for food, meals and entertainment and "miscellaneous", apart from the account for money just to pay monthly bills. I hope that this way, I will never dip into the essential bills money, and I will be able to view my balance for the more fluid expenses, unclouded. A problem for me with the "meals and entertainment" category is that there has been no "miscellaneous" category, so any misc stuff I buy eats into my entertainment budget, which is $200./m.
How do I plan to get, like, $566./m extra? Well, the raise negotiation at the union contract table is not looking so hot, even though I presented in front of HR and showed how although my area has a phenomenally high cost of living (matching S.F. as the highest in the country), our county makes the thirteenth lowest salary out of 16 neighboring counties. We are not going to get a significant raise. My options, then, are to apply for a job in neighboring S.F., and there is one now which is for the same classification as my current job, but it pays $15,000. more a year. Or, I'm thinking of getting a part time job just to pay off my credit card. After I pay that off, I can quit.
Meanwhile, I am investigating life insurance policies. I have a mortgage, and I might like to will my house to a couple of friends and their kids, but not the financial burden.
Oh, yeah: recent good financial behavior includes the beginning of an emergency fund, which I plan to continue to grow even after reaching the basic $$1000.; I submitted my taxes; I paid off a $2000. personal loan; and I have pledged not to buy new clothes, books or music until 8/07. So far, so good.
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