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Author: raetsu Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308881  
Subject: Re: Can anyone help me (July Update) Date: 7/27/2008 3:08 PM
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a few things about which I didn't see anyone comment on yet:

1. Tmobile (unl)$113.00
TDS (hm phone) $243.40



why not live off the unlimited cell phone to save 243.40/mo?
*-I just signed up for the unlimimted and the $243.40 is my final bill.


2. I have a 401k set up with my new job (6% before taxes 4% after taxes...

Debt
CitiFin 8724.65 23.5% Interest
CapitalOne 646.47 21.4% Interest

Your 401K investments are not likely to earn 20% interest so as long as you have debt at 20% you'll do better to put more money against the debt. Zero the 401K contribution and pay the extra on those high rate debts. Maybe if there were match money...
*- That is a great idea I will stop the 401K to pay the debt

3.Income
Job 2000.00 (After taxes)

make sure that's really monthly income/ not two bi-weekly pays. that's one easy way to "lose" two weeks pay per year from your budget.
*-I get about $1000 every two weeks. Sometimes more sometimes less I have hourly plus commission


4. My brother will be renting out my house for $100 more then my mortgage payment starting on Aug 1st.

Expences
Mortagage $1349.36
Water (TN) $39.84
NES (TN Lights) $138.56

Income
Rent Paid 1500



I think these are all about the same house, let's see if I understand... Are TN "landlords" required to pay for/provide tenants water? (it was that way when I owned a twinplex in OH). 1500 - (1349.36 + 39.84) = 110.80 is about $100 ?

If I've got it right, then, the $138.56 should go away when the tenants move in (or does the $1500 rent include utilities)?

*-My brothers will be paying for all utlities
-What I listed is my past dues balances


5. I see no allowance for food, clothing or restaurants... or is that the "Bills in Vegas" provision?

*-I spend around $300.00 on food and restaurants a month (that is part of my leakage I am tracking)
-Vegas bills is rent, lights,water
-No clothes

6. It's admirable that you spend nothing on entertainment other than the Dish Network money. Would you take out a loan at 20+% interest to pay for that service? That is what you are doing when you subscribe while you owe on 20+% interest debt. Consider shutting that off as soon as your subscription allows until your high rate debt is gone.

*-I get free red box rents on monday
-I change my dish plan to 10.00 a month until the 6 month contract is up then I will cancel it
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