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Living Frugally and environmentally friendly

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getting out of debt [Aug. 17th, 2007|02:19 pm]
Living Frugally and environmentally friendly
livingfrugal
[kbreen]
I am a music teacher, and some of my students pay me by school term
and some pay by half-term. So where I stand at the moment, nearly all
of my students have paid me for the half-term that ends today, and
some have paid me for the full term. Also there are a couple of
students who have already paid enough to cover them up to halfway into
next term. The good news: I have a record that on the 7th July I was
in debt by about $5000. Then yesterday, according to my credit card
balance, savings account balance and cash in my wallet, by deficit was
down to about $550!! Not quite as good as it sounds, as I probably
owe something between $2000 and $3000 in bills, and even apart from
that my deficit will increase further between now and the end of the
term, as I probably won't be paid much more until then, and my
business overheads are considerable. Still, I am getting somewhere.
When I get paid for next term it should clear my credit card debt, and
I might POSSIBLY have enough money left over to last me into mid
January, if i am frugal enough. (I have a 55-days-interest-free
credit card, so if I dip into my credit card after mid-Jan, then even
if my students don't pay me until after lessons start again in
February that will still be soon enough to make the card payment). In
the meantime, I will have to see how big my bill will be for the past
three years' tax returns! Well anyway, it's good to know that now I
am earning enough to be able to save plenty. Also I recently got a
slow-cooker, which has been very handy for lazy cooking and cheap eating:)
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