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I paid off all my credit cards!!

photo by D Sharon Pruitt

I accidentally posted this Wednesday a little prematurely… but today it’s official! I am free from credit card debt that just 10 months ago was over $8k.

I had this lovely email in my inbox this morning from Mint:

Now that I’ve knocked that one off my financial goals list, time to knock off the next one: my personal loan. Stay tuned!

Where did June go?

I’ve been gone for awhile, apologies.

It feels like everything is happening all at once and I just seem to have a difficult time catching up with all of them! It also seems that when something starts to go my way a little bit, I get surprised by something else… good or bad!

So I’ll try to do better and I hope every has had a fantastic month!

May Financial Summary

I am late late late this month for the update. I spent the first 10 days of June travelling and away at a conference. It was fun, but I haven’t been so happy to be home in a long time!

Debt

Here’s how things look:

As a reminder, you can view the full, most up-to-date debt spreadsheet here.

Budget

Again, I totally failed at keeping up with my budget, however I know that I came out positive. Always a good thing :)

Net worth: $16,454.16  (down 10.00% from April)

Another depressing month on the net worth and saving money front, but at least my debt dropped by almost 10%.  Just gotta keep on keeping on!

Bad Money Choices: Getting a Roommate


(image via allexperts)

Today’s topic is on a Bad Money Choice I made that almost all personal finance bloggers will tell you is a great idea.  After living alone for several years, I got a roommate.

The reason this ended up being a poor decision is because the roommate and I had very different values and while she ended up saving money (I think), my expenses increased…. so how did that happen?

Since we both had dogs, we decided we wanted to move into a house with a yard.  Since houses don’t come cheap like one bedroom apartments, obviously it made sense to move in together.  We found a wonderful 1930s house that was approximately a 10 minute drive from our workplace.  We thought we could overlook the fact that it only had one bathroom.  Second mistake.  The first was that it was a 1930s house.

After moving in, I suddenly started paying for cable (I watched for maybe one or two months), my water bill increased by $20-50 a month overall (so $10-25 extra per month) and electricity skyrocketed to between $100 winter – $200 summer per month. Considering my electricity had never been higher than $60 on a particularly bad summer month before, this was a hit.  Even in the winter, I was spending $20 more on my half of the bill than I did on my highest month alone.

So let’s add it up:
– Rent – no change
– Cable + $20/month
– Internet – no change
– Water +$15/month
– Electricity +  $90/month*

Grand total per month = $125/mo extra spend or $1,500/year.
*based off of $60/mo previously and $150/month in house

I could have paid of my credit cards a month earlier if I’d just continued to live by myself in an apartment.  She wasn’t a bad roommate and aside from the usual annoying stuff that happens with roommates, the fact that I was spending more money (instead of saving) just added insult to injury and made the situation worse for me.  Well, that and my totaled car, but that’s a different story.

Lesson: If you’re going to get a roommate, make sure you’re on the same page.

Orlando

via prweb

I’m back on the road again this week in Florida for a conference.  I just realized that I’ve flown somewhere at least once a month almost since I started this job, which has been pretty awesome. Only half actually FOR the job though.

Next month, I’ll be in Portland for the World Domination Summit, September will be New York for my marathon, and October… hopefully off to Africa!

Hope everyone has a fantastic week!