Financial Tracking for the Week of December 22, 2019

Oii.
What a week.

I’m tired. I’m exhausted. I want to rest.

Another week of bills that I can’t afford to pay.
Not to mention not having enough for groceries and food for my dog.

The Gist

Despite the downward spiral of things, a friend of mine gave me a $100. Another friend gave me a gift card for $25.

I think I’m going to use the $25 for gas and use some of that $100 for groceries and other things I need.

The rest will be deposited into my bank for bills.

Another thing I am relieved about is my Golden Valley Lending payment has been pushed back to the 10th of January. And I am SO glad. It was a $400 payment.

Let’s roll up sleeves and get into it.

Weekly Budget:

Sunday 22nd:

Movie Club: $10

Monday 23rd:

Lendgreen: $208

Amazon Prime: $7

Best Buy: $28

Tuesday 24th:

Geico: $200

Friday 27th:

Xcel: $154

Saturday 28th:

AmerAssist: $150

Money I should save up for the following week:

SmartCredit: $100
Rent: Have around $300-400 in account

Total outgoing (not including the following week):

$757

What I have in my account:

$40

Incoming:

+$667

How much I need:

$90

Summary

In retrospect, this isn’t as bad as things appear to be.

But when you are worn out and fighting depression, it just feels like a mountain to climb.

I am hoping child support will come in on Tuesday. That should cover the bigger bills (Lendgreen and car insurance) and give me around $200 until Friday rolls around.

As I am typing this, it is nearly 7:00 P.M.

After a quick dinner (cereal) and a little down time and filling in my to-do list and calendar, I will be driving for Lyft to get going on that $90 (plus more in preparation for the following week).

I am looking forward to my financial aid reimbursement in January to help with the living expenses.. even more so with the tax refund.

Credit Score

So I’ve hit a snag with my credit score. It SHOULD HAVE been 630 by now.
But I did open a new credit card and spent more than I intended (still under balance though). But I think it messed with my debt ratio.

I also tried to refinance my Golden Valley Lending payments and I think they check your credit score for it so that’s another hit.

I’m brought down to 595.

So what I’ve learned from this mistake is…put all my payments towards my loan payments first and worry about raising my credit score second.

The money I put towards my credit cards could have gone towards my personal loans which means lowering my payments or at least keeping up with it.

My credit score would have been left alone at 612. Lesson learned.

House Update

Because my income is so low as well as having so much debt that I’m hauling around, my mortgage lender gave me two choices:

1. Co-sign with my mom and see what I have to work with

2. Wait until I finish school in 2021 and get a loan for potentially 250k.

I decided to wait. I’m already cracking under the pressures of my debt.
And waiting until 2021 gives me a little bit more stretch of a time to get my debt under control and raise my credit score.

I don’t know what it is about blogging my financial journey but it somehow brings me peace.

I think just seeing it all broken down and sharing my plan of action calms my anxiety and motivates me to keep going.

Welp, I will see you guys next week!

Financial Tracking for the Week of December 15th, 2019

I’m not out of the woods yet but God pulled in some miracles for me this week!

Some praises for the week:

My friend let me borrow $500 from him (which helped cover rent) – also planning on paying him back in January.
Another friend surprised me with $200 (which helped cover my car payment)
My mom also gifted me $500 literally out of nowhere. She asked if I can stop by her store and I assumed she needed help with something but instead, she gave me money.
A mother always knows, I guess!
Her $500 helped with the rest of my bills and getting gas in my car

Awhile back, my friend gave me several super easy and cheap recipes.
A coworker of mine bought us lunch so I was fed for the day.
There was leftover food from an even they had at work so that also fed me.
Professor of mine also cooked us some amazing BBQ and brought it for us to eat on the last day of our class and told us to take some home.

While I was skipping meals to make sure my kids were eating, God fed me.

Another amazing gift is my friend’s husband’s work is sponsoring my kids for Christmas and will be providing Christmas presents for them which I am SO thankful for because I wouldn’t have the money otherwise.

With all that being said, let’s breakdown what needs to be paid for this upcoming week.

Weekly Budget:

Monday 16th:

  • Disney+ Bundle: $13.00

Tuesday 17th:

  • Victoria’s Secret Card: $45

Wednesday 18th:

  • BeachBody: $17

Thursday 19th:

  • Amazon Prime: $7

Friday 20th:

  • Best Buy: $203

Saturday 21st:

  • Office $10
  • Movie Club $10

What I have in my account:
$217

How much I need:
$88

I’m hoping to make at least $88 tonight (Saturday 14th) but more would be better so that I can set myself up for success for the following because I have large payments going through.

For example, I have a loan payment of $208 on Monday, my $200 car insurance on Tuesday,  loan payment of $400 on Thursday and so on and so forth.

Child support is supposed to come in that week but it takes 2-3 business days to process and the 20th (scheduled due date) lands on a Friday and then it sits in the middle space over the weekend and then it’s Christmas on Wednesday.
I’m not sure if the child support would process on Christmas Eve so right now, I’m not relying on it to pay much.

This coming week is the calm before the storm because I know the following week with the big bills is going to be stressful. Not to mention the fact that in just a few short days later, rent will be due.

Credit Score

I’m not sure when the last time I gave a credit score update was but it is currently 612. It was 615 but it dropped to 612 because I had Experian do a credit check so I can apply for a second credit building credit card.

According to SmartCredit, paying approximately $172 on my Best Buy credit card and $45 on my Victoria’s Secret card is going to bump it up to 630 so I’m excited to see that jump.

Things I have to use to get by for the week:

$20 in food stamps (it’s all I qualify for. It sucks being right on that border of making too much but not making enough to get by. Hence the loans and debt. It’s a vicious cycle but I’m determined to end this cycle and start a new one of prosperity. Huzzah!)

$10 in gift card

$22 on my Capital One credit building card (but I’m trying to refrain from using it)

And I have another credit building credit card coming in the mail with a balance of $300 but only going to try and use $90 for gas and groceries.

Debt Management Plan Update

Apparently, whoever I spoke with that helped me create my debt management plan was negligent in the fact that most of the loan companies that I had asked to be put in the plan would have denied it. So if I had gone through with it, I would have missed payments (accruing more interest) and paying the business money monthly fees.

Thankfully, while calling to make sure everything was set in stone, a woman answered the phone and saw that none of the items I put on my plan would have worked out and told me I would be better off paying them off on my own.

So that’s a little extra stress there because I’m going to have to work like a horse to make my monthly payments.

But tax season is around the corner and hopefully I get enough from my financial aid in January to cover basic living expenses so I just gotta hang tight.

If you guys are following along on my journey and decided to take control of your finances, how is your week looking so far?

It’s hard but I believe in you!!

We will be debt free and will be blessed in many ways!