Break down Thursday, Jun 14 2007

      CREDIT CARD DEBTS: 

      1. Citi Dividend Platinum - $1,024.79

     finance charge – $18.80

      2. RBS – $2,981.26

      finance charge – $21.50

      3. Household Bank – $909.07

     finance charge – $9.07

      4. American Express – $260.00

      5. Chase #1 – $731 (dispute $400 charge)

      6. Chase #2 - $728.69

     finance charge – $5.99

AGGREGATE TOTAL: $6634.81

Total monthly finance charges- $55.30

I am waiting for my paycheck next Thursday. Argh.  Out of $1400 I will apply $1000 to pay off one of my high interest cards. I’m thinking I’ll start with the RBS one first. Knocking it off a G should motivate me to keep applying $1K per month for the next six months. As well as save $10 on finance charges per month. I’m allocating $400 a month for miscellaneous spending – which runs out to about $100 per week which is really nothing in nyc. Usually a casual night out runs around that amount. grr. I should have gotten a job in Finance!!

Thanks for all of the encouraging comments! Just to answer some questions- I actually can’t cancel the DirecTV because I share the dish and phone line/dsl with my neighbor. Both bills come out to $100 per month so they pay the Verizon phone bill while I pay for the DirecTV so I should have stated the $117 is for both cable and internet. I HAVE however decided to cut my cell phone next month. I’ve really become anti-social lately as I’m beginning to study for the GMATs exam and it’s just such a waste to pay $70+ per month for a service I’m not fully utilizing. Besides, I also carry my company cell phone so I will give that # out for quick one minute confirmations on where to meet up with friends (if I ever have enough money to go out again!). To think, I’ve been so silly carrying two cell phones around and using neither one of them. Ugh!

Another small step- I’ve  decided not to buy any facial/skincare/beauty products until I use up all of mine. Don’t worry my face won’t suffer one bit, I have so fully supplied I can start my own AVON-like sales line.

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Clutter be gone! Sunday, Jun 10 2007

So I returned the MJ sunglasses. They are Beautiful and make my face look skinnier but to be honest, I can’t afford them and I don’t really go out during the daytime much anyway. Besides, I still have last season’s Gucci rimless. $268 to be credited back to my account next billing period. woo-hoo!

I stayed in last night because I’m terribly over budget this week and decided to use my time taking out all my summer clothes and putting away all my winter clothes instead. All the while my girlfriends are meeting cute investment banker/traders at Club Myst in the Meatpacking district. sigh. Anyway, I’ve come up with 2 shopping bags full of clothes I am going to try to sell on Ebay or drop off at the local consignment shops in the east village. For those of you whom maybe unfamiliar with the transaction – basically you bring in your items (they only take designer or any breeds of haute couture) and they assess it for any marks, tears, etc and whether or not they can sell the item within the season. They state the price in which they deem it’s worth and if you agree to it, you are entitled to half that amount once it’s sold. Good thing I’ve always bought most of my things on sale so it won’t be such a major loss to me. Anything after that I’m going to donate to Goodwill.

I also packed up a ton of books I’ve collected over the years, including my college textbooks. I think I’ll try listing them on Half.com or dropping them off at Strands (discounted/used book store. think: TraderJoes of books). I’m sure I’ll get less than a quarter of what I paid but hey at least I can have the space in my kitchen cupboards back. Yes, space is really that limited in nyc apts that my cupboards double as my bookcase. More on my tiny studio apt in another post.

So I spent pretty much half the day reading PF blogs. They are so interesting, and the people are so real. This is truly the year in which I’m realizing that I need to be more fiscally responsible. My first inkling of such notion was when my ex-fiance paid off $15,000.00 of my credit card debt in lieu of an engagement ring (I offered to pay him back the loan when I broke up with him) more on that later too..

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Net Worth and Budgets Saturday, Jun 9 2007

Current Status:

Total credit card debt $6000.00

Checking account $1000.00

401K investment $1,659.00

Monthly Net Salary – $2800.00US

Monthly Deficits:

• Rent $590.00 (rent-controlled apt inherited from grandma)
• DirecTV $117.00
• Student loan $131.82
• Gas/Elec $ 60.00
• Verizon cell $ 70.00
• Gym 48.00

TOTAL: $1016.82

Ok, that took like an hour to figure out. So my plan is to knock out my bad debt ASAP. I’m thinking of allocating $1,000.00 per month to my credit card payments. That should knock it out in about 6 months. DECEMBER 2007. ARGHH. The idea is that I STOP charging while I’m paying off said debt. Said the chica who just spent $268 on this season’s Marc Jacob Aviators. sigh.

Anyway, I digress. According to my brilliant plan there should still be $783.00 leftover. I should save at least half of that and leave the rest for miscellaneous spending? Of course I must try to adapt a more frugal lifestyle. No, I just need to stop shopping.

Total spending today:

$7 cab ride to work (I was running late and had an early meeting!)

$6.00 spicy tuna roll for lunch

Not so bad compared to yesterday or the day before :X

I think I’ll also sort out some designer labels from my closet and put up for auction on Ebay. I’ll come up with a list this weekend.

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New beginnings, old debts… Thursday, Jun 7 2007

So I’ve been trying to convince my brother to strengthen his vocabulary. “Go to Dictionary.com everytime you’re not sure what a word means!!”, I’d preach.
Fast forward >> Today I randomly come across a review of a new modern girl’s guide to personal finances book titled “On My Own Two Feet” on hmm I wish I knew how to link people’s blogs but for now I’ll just copy and paste the link: Well-heeled

and realized – OMG I’m in a financial CUL DE SAC!!!

I’m a 25 year old single female living in Manhattan (notoriously expensive) and I have no savings! Only liabilities… I am like Carrie Bradshaw (sorry last SATC reference -I swear) sans Mr. Big but with rent-controlled apartment and closet full of designer clothing.
Which is where the problem lies.. hopefully by starting this blog I can really document where all my money goes and hopefully pay down my debts and start a SAVINGS. I also wish to learn how to invest.

Speaking of which, here’s this week’s expenditures (It’s only Wednesday):
Last night – Dirty Bingo & dinner at Paradou: $76
Today – Japanese lunch with colleague – $6
Eye treatment package at Spa: $260 (comes in a package of 10- fyi I have really bad undereye circles).
Total credit card debt not including student loans – $6,000.00

Thank gosh tomorrow is pay day.. I try to pay at least $1k per month and have to say, I really came a LONG way.. beginning debt in 2006 was $25,000 in credit cards alone.
Oh, back to the beginning, so my brother has been texting me random words he comes across that he finds funny. He just text me “Frivolous- hey thats you Judy!” Great.. I’ll take that as a *Sign from above.

Thank you to the blogger Wellheeled (really wish I knew how to link). You may have just changed my life.

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