Going into Debt Every Month!

To start with our journey of getting out of debt, first we have to know where we stand.

We found ourselves over $40,000 in debt and into the negative every month in the bank account.

I pulled three months of expenses to see where we were using all our money.

In total we spent over $2000 over our budget every month.  This would be why we are always under on our account every month.  This would explain why we are always having to dig into our credit to make ends meet.  This would be why the debt gets bigger all the time!

We spent the following on our variable spending average each month for the last 3 months.  This is all our spending that is not automatic and essential such as mortgage or life insurance payments.

Groceries           $1363.36
Cash                   $49.25
House/ Car         $835.24
Everything Else $985.75

So I planned, and researched, and played with the numbers.  This is going to be our weekly budget for the following 4 weeks.  I am going to look back at the spending and the budget to see if it works and change it where necessary.

Gas                       $100
Groceries              $187.50
Kids                      $17.50
Extra                     $25
Entertainment       $25
Total Week Spend $355


Debt Countdown!
Start:                       June 13, 2016   $ 43 756.20
Predicted End Date: July 2019        $0