Today is payday and I’m really happy with how things shaped up.

$1000 to BoA VISA. This is the second payment this month and this one goes completely to principle since the one I made last week was to cover all of DH’s work travel expenses and the monthly interest charge.

$1000 to Mom’s 0% interest loan, dropping the amount we now owe her to $91,000.00. We have 7 years and 8 months’ worth of payments to go. We have paid off $19,000.00 so far. This was originally all medical debt.

$300 to Mom to help her with utilities.

$34 to the EF and $1 to the holding tank since the electric bill for the old house was $1 less than I’d budgeted for. That brings the holding tank to $204.30 and the EF to $7468.65, with $1000 of that in the safety net at the local CU and the rest in ING.

$20 for the electric bill at the old house

$212.66 for term life insurance for me and DH, house insurance on old house, and car insurance

$39.37 security system on old house

$131 to storage

$200 to AMEX

$375.86 to mortgage on old house

$407.75 on propane

I have a couple hundred left for groceries and miscellaneous items for the week. I doubt I will spend it all. Any extra will go to the laptop fund. I did spend $60.11 on Chinese food from the no MSG place. I got enough to have several meals out of it so I don’t have to cook while I am still so sick. I really wish this cold would leave. I am just too out of it to cook like normal. I hate spending that much money but it’s good food with lots of veg so I don’t feel too bad about it.

Out of next week’s payday I will pay an additional $500 to AMEX, $500 to the holding tank for medical, $124 to renew AAA, $1000 to the EF and $1000 to the holding tank for the two week period of no paycheck. There should be about $600 left and $300 of that will go to the property tax portion of the holding tank, $100 to the laptop fund, $100 for groceries and $100 for miscellaneous. If there is anything beyond that it will go to the laptop fund. The payday after that, which is only two and a half day’s pay will also be for stretching across the two week period of no paycheck.

I took back the 3 cans of chicken and rice soup I bought on Tuesday by accident and got 3 cans of chicken and stars soup in exchange. The price had dropped 10 cents a can on the new sale week, so I got 30 cents back in change. Also at the Chinese place the lady didn’t want to use so many pennies by giving me back the 14 cents she owed me so she gave me 15 cents instead, so that’s a total of 45 cents to the coin jar today. I also grabbed some penny wrappers while I was at the CU paying the mortgage, so I can roll coins today and add that to next week’s laptop fund deposit.

All in all a satisfying payday and I can’t wait until next week when everything posts and I can update my numbers again and see some real progress this time.

Oh, and DH has heard from three different people, one his direct supervisor that he’ll be getting a raise in April at the six month mark. It will add $525 to his gross income for a six week pay cycle if the amount he was told is correct, so I’m thinking we will at least get $400 of it and that can go to debt repayment probably. If I’ve done the numbers right, with that extra amount we should hit the end of the year no problem with having BoA paid off completely. I’m not counting it yet, though, in my budget. It’s one of those things where I’ll believe it when I see it.

The BoA VISA should now have a little over $3000 between what we owe and what the limit is on it, so with that cushion there I am going to now switch to paying only $1500 on the BoA VISA each month (expenses, plus interest, plus about $100 to principle) and take the extra $1000 and add it to the $400 payment we make on the BoA Master Card. That will pay it off by the end of May and then we’ll be able to pay $2900 to the VISA each month until it is paid off. I may try to scrape up an extra $100 each time to make it $3000. We’ll see what’s available.

Once that is done the money will then go to finish paying off the car, unless DH talks me into trading in the Matrix for a Sienna sooner than we planned.
If we stick to the plan, we should be out of debt, except what we owe to Mom, by the middle of 2012, possibly sooner if he gets the raise.

Mom doesn’t want us paying her back any faster than $1000 a month because she is using that to supplement her income from social security (and saving as much of it as she can for the future). She likes having it come in steadily and our system seems to be working for everyone.

Edited to add: I was cleaning out an old purse and found $1.95 in coins. I then rolled coins and I have $7.50 to add to the laptop fund.

$467.94 beginning laptop fund balance
$=07.50 amount added
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$475.44 ending laptop fund balance