First the bad news:
I tallied my credit card statement and I am right back to $16,373.79 in debt -- after about six months of working hard to pare that debt down to about $13,000.
I knew before that making this big change, moving and settling in a new place was going to put me back in the debt hole. I wasn't sure how much but I guessed it would be at least $3,000. So when I saw the final number, I was disappointed, but not totally shocked.
And now the good news:
I am getting $1,000 in relocating expenses. A pretty paltry amount quite frankly, but I am glad for it. Even better news, a generous friend of my family has made a huge donation to my cause and is giving me -- interest and repayment free -- $1,500 to help me out!
My plan is to use $500 to rebuild my mini-emergency fund back to $1,000. The remaining gift will be used to pay back the credit card.
So, after those transactions go through, my debt will stand at $14,373.79.
Using one of the ubiquitous debt calculators on the Internet, it would take $1,143 a month to be paid off by Sept. 25, 2007.
That's my goal, but I honestly don't see how I can do that. But! First things first, I have to re-evaluate my monthly budget. I totally fell off my spending record for most of May, but I've got every last receipt and even jotted down when I spent little bits of cash for snacks small things here and there. When I sort that out and finally get my first (and fatter) paycheck, I'll have a better idea of how I can meet that goal.