May is Over, June is Here!
June 2, 2009 Leave a comment
I know a lot of people were happy in personal finance blog world for May to be over. But towards the end of the month, I was doing quite fine with May, because then I had a few more days before June started. And June means I’m leaving THIS MONTH for Europe. Which means I have very little time to get more money before I’m on my way.
I ended the month with $25 in my ING account and $0.73 in my BofA account. So I came out ahead, if only barely, and that is much better than how I ended up last month. My emergency fund is UP to $600, my “other debt” has gotten bigger as I bought a dress for the cruise with my Express credit card (BAD SS4BC!), and my vacation fund is looking reasonable.
I currently have $600 in my ING account for “spending money” for the month. My goal is to live off of $200 for the next 3 weeks. I have to register my car this month, which with be $100. Which leaves me $300 to move into my vacation fund. I ended up making $88.87 this month tutoring, which isn’t awesome, but it still good. I was hoping to get to $100. Hopefully I’ll do better this month with some good hours on the schedule.
What all of this means is that I have $2,060 for my trip. I’m still around $150 short of my proposed budget for the trip. However, I guess I’ll have to use some of the money that my grandma is offering me from my Great-Aunt’s will.
I’m really proud of myself for being able to save up this much money in such a quick amount of time. It gives me a lot of hope for building up my emergency fund in the few months after the trip is over and paying down my debt quickly. I’ve been able to save over $2,000 in FOUR MONTHS!! I never thought that I’d be able to save this much money so quickly. All by constant diligence the past 2 months and (hopefully) a very tight budget this month.
All this said, I think it is very feasible for my to be able to get my Emergency Fund to $1,500 by September and then be able to pay off my credit card debt to around $13,000 by the end of the year. Which isn’t my goal for 2009, but is still pretty damn good (I think!). With all the other debt paid off shortly, 2010 should be a great year to get the credit card debt reduced. I’m exceptionally hopefully that by the end of 2010 (I know, a year and a half away!) that I’ll be under $7,000 credit card debt – which would just be super!
Anyway, I just have one goal for myself this month:
*Live first 20 days of June with only $200