No. of Recommendations: 5

Just wanted to introduce myself and my debt with the new year coming. I
 want to be responsible in the new year to paying down my credit card
 debt. By making this post and future updates, I hope (will) to keep my goal.

I'll start by saying it was a good year for us in the fact, we were 
able to pay all our bills on time. We bought our home and our second 
child was born in February. Also, opened a savings account in September
 and direct deposit $400.00 a month and will have $1360.00 at the end 
of the year.

Need to plan a working budget so I can pay down the debt. I was 
thinking of keeping a minimum of $1000 in savings (e-fund) and putting 
the $400.00 directly to the credit cards. However I looking into 
refinancing and would need the money already saved to do so. Then I 
would have to save up to $1000.00 again. - Need to think about that.
 Our net pay for next year will be - Dh $1550 - $1600, myself -$1700 
/I can usually make an extra $200 net in bonus which can be put
 directly to credit cards. I don't want to include it for budgeting.

For food am definitely going to start using the envelope method? - just
 taking out specified amount of cash every pay period and that is all I 
can use. We are very bad about sticking to a food budget we like to eat out.

Also, need to budget for school books ($600.00 est) and some tuition 
$500 (est). 

Any suggestions on a budget will be appreciated.


Checking acccount 1 (Dh check) will be automatically debited bills
Mortgage    $816.05 (current $713.32 until March/then adjust)
Car 1       $197.51
Car 2       $438.68
Loan        $99.55 (student)

Checking account 2
                                         Balance    APR
VGR       $44.00    Bofa 1    $50.00     $4754.62   8.9%F
Dance     $40.00    Bank One  $15.00     $487.19    0% go to 6.xx%V
Cell      $45.00    Best Buy  $51.00     $2248.74   19.99%F
Phone     $25.00    Cap One   $35.00     $1127.21   12.99%F
electric  $50.00    Discover  $105.00    $5279.98   0% 6/03 13.99%F
gas       $50.00    5/3       $75.00     $1181.54   21%F
cable isp $45.00    Bofa 2    $25.00     $2338.63   8.9%F
phone isp $21.95    Radio Sh  $32.00     $373.27    0% 1/04
direct tv $40.00    Citibank  $36.00     $1576.01   12.65%V
water     $25.00    
car ins   $80.00    Total     $424.00    $19367.19
life ins  $75.00

Total     $540.95  
Direct Deposit $400.00 per month

Food $300 to $400 - budget?- includes all food/paper products etc.
Gas $100 (100 total miles back forth work a day for Dh and I)
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