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Well, figuring out why you overspent your everyday expenses by $1200 is probably a good start.
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Jun 4, 2014 04:24
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| # ¿ May 22, 2024 02:54 |
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What about the other 2 months you have on YNAB? Did you stay within your budget for that? I think the very first things you should do is 1) know the terms of your debt and 2) be realistic with your budget, and cut certain items as necessary. A realistic average of your past 3 months should be a starting place for your budget. It sounds like your budget right now takes into account some of the costs that occurred last month, but do you think it's at a place where it can be a pretty hard line, that includes all of your spending (even intermittent spending)? From there, if you have any debt that has really high interest rates, you should knock those out quickly--based on your monthly income and your budget as-is, you should end up with $500 extra on average, so I'd suspect you'd want to get rid of your CC debt in a month or so. Depending on the interest rates on your other debt, from there I'd be inclined to put a bit of money into an emergency fund so you can pay off one-time costs without using credit.
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Jun 4, 2014 04:59
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