I'm Credit Card Debt Free!!!

So I caved and I transferred the money from my regular account and E Fund to pay off my credit card and I can gladly say I'm Credit Card debt free, all that's left is to pay the last $200 from my parents loan and I'll be completely debt free.

This means I'm going to be living tight for the next pay fortnight with the majority of my pay going towards rent but I'm happy to do this for the joy of being Credit Card Debt free and being able to start my holiday savings plan sooner then expected!

If you want to know the reason for this change of mind from my last post, I partly blame the 5 day long weekend in Australia which has allowed me time not to do anything and to be to in my head thinking about my credit debt. I've also been bad with my money this pay and spent my entertainment fund 3 days into the fortnight. I was sitting on the couch tonight, stressing about the spending and decided rather then spend anymore money this fortnight I'll just put it all onto the credit card instead. It's a bit stupid, actually probably a lot stupid but I'm so happy to be Credit Card debt free so I can stop stressing about my money and start SAVING my money.

Yahooo!!!!

I'll update the sidebars once the payment clears my bank fully and the balance shows $0

Spending ban fail

I've been lazy and undisciplined. I have no excuses. I'm giving myself a huge kick in the bum right now. I have spent money, on only small things but they were wants not needs (coffee, diet cokes). I did record my spending, on my iPhone, except yesterday I dropped my phone down the stairs and now its smashed and it won't start and I've lost all my precious data.

I had to buy a new phone today, I live alone and don't have a home phone so it's important I do at least have some way to get in contact with people. I opted for a cheapie $49 phone I still have 3 months left on my plan so I'm still on the ridiculous $69 plan that I always exceeded. I tried to be smart today when buying the phone, instead of opting for a phone that can check Facebook, twitter and Internet sites I got a basic phone with no internet access. I realised last night that I'm actually addicted to my iPhone and it's concerning, I check my Facebook and twitter several times a day, I google recipes and random things on my phone I regularly exceed my plan and will end up with $200+ phone bills for the most unnecessary things. When I bought my phone and I also purchases insurance on the phone and I am covered for this damage so I can lodge a claim and get a new phone except I don't think its a good idea for me to do. I'm going to wait out the next 3 months of my contract and then go onto a prepaid phone. I'm already having iPhone withdrawals though.

I've been seriously thinking and organising travel plans in my head and with family and this time I'm implementing an actual to honest gosh real spending ban. This is the 6 Month OH MY GOSH I'M 24 AND NEED TO TRAVEL SAVING PLAN"

The plan is this, (I'm paid fortnightly but planned it monthly for convenience)

I'm paid on average $3087.12 a month. I've done a monthly budget including savings, paying bills and daily expenses the budget I've worked on has a $445.$12 left over which I will first pay onto my credit card debt and then when my credit card debt is paid off it will go into my savings account.

parents	200
credit card	500
savings	300
rent	1173
food	200
phone	69
internet	60
electricity	40
play money	50
health	50
house	50
total	2692
monthly wage	2991.16
left over	299.16

Once my all my debts are paid off I should hope in about 3 months. I will then do a new budget that focuses specifically on saving.

The reason I've made this plan 6 months is that I think I'm going to need 3 months to pay off the debt and then 3 months to get some substantial money in my savings which will hopefully train my mind and my thinking for the next 6 months of saving for travel.

I know I have some big purchases coming up that will affect my budget however, they include 1) I have to fly back home in April to see my nieces christening and 2) I am taking french lessons so I will need to pay for 2nd semester in 2 months. I've got this figures in my mind and will be deducting money from my savings for these expenses (but only these expenses)

I am ACTUALLY going to do this.

EDIT:

I miscalculated my monthly pay and gave myself to much money, also thought it would be wise to add a household expenses portion.