Sunday, January 10, 2010

Working on first financial resolution

Last week, I posted my New Year's resolutions on here. My first financial resolution was to get $1500 into our savings account. We are working hard on getting to this point so that we can begin to pay off our credit cards. My husband really wanted me to start paying off the credit cards right away, but I explained to him that I didn't think that was a great idea. Even financial gurus like Dave Ramsey tell you to save $1000 emergency fund before paying off credit. If something happens (for instance we need to buy a new tire, etc) and we don't have the emergency fund we would end up using a credit card. I finally convinced him that this was the way we should go.

It is my goal this year to post the amount I transfer to savings each week. I will also be posting my weekly meal plans (on Mondays) and how much I spend on groceries each week. Once I have my emergency fund fully funded I will post how much I send to credit cards and how much is left.


This Week's Totals (1/7 to 1/13)

Weekly Amount sent to savings: $550.00
Total Amount in Savings: $558.51

Weekly Amount spent for groceries: $19.73 / $75.00
(hubby went to Wegmans this a.m. - bought a newspaper, 3 gallons milk, pound of deli turkey, 3 loaves of white bread and 3 loaves of wheat)
Total for Groceries this Month: $59.48/$300.00
Meal Plan expected to be done by tomorrow.


Lisette

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