5th Paycheck of the Month!
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Photo Credit: bnhsu
There are 5 Fridays in March, so I got an “extra” paycheck this month. How will I spend it?
- 54% will go towards my emergency fund/snowflake account (I’m also putting my extra car payments here)
- 18% will go to my IRA
- 14% will go for gasoline for the week
- 5% will go towards eating out (so far I’ve been under my budget this month)
- 9% left over will go towards padding my checking account
The credit union where I have my car loan isn’t budging, so I’ll send one large payment for March so the extra cash will go towards principal.
I’m going to get aggressive on killing this car loan. I’m seeing if I can work a few extra hours a week (from my home). I can do 5 of my reports from my computer at home and that would open up 4-6 hours of my office time for other projects that require my physical presence. Wish me well as I try to convince my manager next week.
I’m also getting more focused and organized on the site. As you noticed I have some ads and will try to increase my income with them without cluttering up the site. Please give me feedback. My intention is to make this a win-win situation where we pick up helpful financial information and I’m able to eliminate my debt.
Right now the pay-off total is $5,108.97. It grows each day with interest (something like $1.76).
If you have any suggestions for paying this loan off quicker, please let me know. What debt are trying to ‘kill’ this year? What’s your strategy?
If this post was helpful, please buy me a cup of coffee. :D
February 29th, 2008 at 1:01 pm
Yay for extra paycheck month!
February 29th, 2008 at 8:14 pm
It happens three more this year(May , August, and October!)
March 1st, 2008 at 7:58 pm
Good for you having it planned out to be used this way!
Way to go!
July 18th, 2008 at 11:10 pm
[...] Income: I haven’t reached my monthly goal. I’m working a bit more, so I have seen a small increase in my income. I’m also working on improving this blog and making it a win-win situation. [...]