Here it is! This is following the 50/30/20 model (although I have modified it).
| Description | Amount you should spend on must-haves (monthly income x .50): | Amount you should spend on wants (monthly income x .20): | Amount you should use toward savings/debt (monthly income x .30): |
| | $1,021 | $408 | $612 |
| Government Student Loan |
|
| $194.00 |
| Rent | $450.00 |
|
|
| Water | $35.00 |
|
|
| Electric | $75.00 |
|
|
| Chase |
|
| $100.00 |
| WF Student Loan |
|
| $50.15 |
| Phone | $65.00 |
|
|
| Plane Tickets |
| $204.00 |
|
| Gas |
| $50.00 |
|
| Dining |
| $50.00 |
|
| Zumba |
| $40.00 |
|
| Car Insurance | $18.00 |
|
|
| Medical | $25.00 |
|
|
| Tithe |
|
| $204.00 |
| Car Loan | $250.00 |
|
|
| Entertainment |
| $20.00 |
|
| Food | $100.00 |
|
|
| Totals: | $1,018.00 | $364.00 | $548.15
|
| Total Expenses | $1,930.15 |
| Total Income | 2042 |
| Roommate | 250 |
| Extra w/ roommate | $361.85 |
| Extra w/o roommate | $111.85 |
| Credit Card Debt | 1,172.71 |
| Personal Debt | 700 |
| Car Loan | 15000 |
| WF Loan | 2558.02 |
| Gov Loan | 16846.44 |
| Total Debt: | 36,277.17 |
So, from this, I can be debt free in 4 years (without interest...) if I pay $706 per month on debt repayment. Or if I pay $956 per month, I could be debt free in 3 years. I know that it's not accurate without the interest, but it makes me feel more secure having a plan with a time limit.
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