Sweet! I’ve sold a lot of extra junk from my place, taken on extra jobs and minimized expenses big time to about $1000 a month, creating a cash flow of about $700 a month – making my 3 months emergency fund easy to complete (only $9 technically till there which I should have after I sell something tonight on craigslist).
Anyway, now with that underway, debating between getting debt down to $10K by end of 2009, or if I should sock away some for a down payment on a house and/or investing (which will earn a great return). Thoughts on this?
ps check out my blog re: personal finance in Hollywood
http://copyandcredit.blogspot.com
Student loan: $10,901.22 (-1.625%)
Mom Loan 1:$2,000—> $1,000
Mom Loan 2:$1,000
Mom Loan 3:$200
Credit Card:$735.88
Dad Loan 1:$800
Dad Loan 2:$550
Dr. Bill 1:$225
Dr. Bill 2:$70
Dr. Bill 3:$70
TOTAL DEBT = $10,901.22 of original $23,105.53 remaining
TOTAL SAVED = $3,090.90 of $3,100 in E-FUND
Nov 09, 02:29PM PST | 3 cheers | 2 comments
But getting on again!
http://copyandcredit.blogspot.com
Topic: Is it worth being in a job you hate because of the economy? (relevant to aspiring power players in Hollywood as it is tough out there/here in LA)
Oct 11, 10:52PM PDT | 0 comments
I’ve been really scrimping, saving and cutting back this last month & 1/2 to make this emotional debt go away once and for all. (Just saved myself years of therapy too!) FINALLY after 6 years I can say that this is fully repaid … once the check is cashed which will be soon. YEAH! Kind of amazing how little you can live on when it comes down to it and you’re focused.
Anyway, with all the debts but the big bad student loan one killed, I’ll be taking a break from this and build 3 months of savings ($3,150 as bare expenses are about $1,050 a month) since times are so tough right now and I’m in an unstable industry (entertainment). It will also be a quicker “win” for me right now in that it would take only 3-4 months to reach (as I can save 600-700 a month) vs. 1 1/3 years to pay off student loans. Plus the amount I’d save each month by prepaying the loan is only $96 and still leaves me vulnerable if I get injured or laid off if I have nothing saved. So unless I can get other suggestions as to how I can really cut away at the loan faster, I will focus on the 3 months thing which I estimate will be done by February 2010.
Student loan: $11,079.29
Mom Loan 1:$2,000—> $1,000
Mom Loan 2:$1,000
Mom Loan 3:$200
Credit Card:$735.88
Dad Loan 1:$800
Dad Loan 2:$550
Dr. Bill 1:$225
Dr. Bill 2:$70
Dr. Bill 3:$70
TOTAL DEBT = $11,079.29 of original $23,105.53 remaining
TOTAL SAVED = $1,600 of $3,150 in E-FUND
Oct 08, 07:08PM PDT | 1 cheer | 0 comments
I'm doing 40 things
