First Thing’s First

Have you ever checked your credit score?

I have. Many, many times. So many times that I’ve lost count. Currently it’s at 717.

You see, I am a certain breed of Person in Debt (PID). I have a lot of debt, but I pay my bills every month, have a good debt/credit ratio and my credit score is decent.

I’m a master at the “debt switch,” transferring balances from one card to another with a lower APR (exponentially harder these days as credit has all but disappeared). I am often very responsible about paying down my cards, but these periods are inevitably followed by complete loss of control in regard to spending.

So, without further delay, I will now lay out the dirty details of my financial self.

Income

Aside from some occasional freelance work and eBay sales, my income is my salary, currently just north of $46,000 per year.

Fixed Expenses

Rent – $550
Property Taxes – $300
Car Insurance – $115
School Loan – $54.27
Personal Loan – $237.30

Total Monthly Fixed Expenses – $1256.57

Some notes about my fixed expenses:
– I was paying $700 in rent but as my boyfriend owns his house and his property taxes were a huge bill for him twice a year, I told him that I would contribute $150/month if he matched it (covering his yearly bill of nearly $4,000). I started an ING account and contribute $300/month, and I’ve taken his “share” of $150 out of my rent.
– I just paid off my car.
– My “personal” loan is actually all of my college credit card debt bundled into a low-interest bank loan. I am not certain of the exact balance (although I know it’s under $20K). As the interest rate is so low, I am continuing to pay this monthly and will tackle this debt last.

Monthly Income ($1224.08 x 2) = $2448.16
Total Monthly Fixed Expenses = $1256.57
Net Monthly Income = $1191.59

Additional Expenses
These are expenses that I really cannot avoid (not discretionary spending), although they are variable. I really have no clue what these add up to monthly, as I’ve never tracked them. This will change, though. I am going to track my expenses for 3 months. Down to the penny. Beginning December 5th.

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