First off, I should apologize for not updating sooner. I haven't forgot about this blog! Work has been crazy, I worked a little overtime this week, which is always good for the paycheck, but not so good for my personal sanity. ;) I want to update this blog at least once a week with stories about my life as a Personal Banker and my own personal finances.
On Wednesday, I applied for a new position within the bank I work for. I stayed up all night to work on my resume and even skipped dinner to make sure it was absolutely perfect before I applied. Everyone has been busy due to our recent merger with another bank, so I don't expect to hear from the recruiter until late next week or even the following week. I hope I get the job, because it is a nice raise in my base salary, plus higher commission payouts. It also involves working with a more sophisticated clientel, specifically our business clients.
As I promised in my first post, I should probably give you a list of my personal debts/assets. I would very much love to be debt-free. Even if I only had my car payment, that would be fine with me. Now, it seems as though the more money I make, the more money I spend. I used to have quite a bit of money in the bank and no credit card debt. But that has changed over the last few years. I hate to admit it. It seems ironic that a banker who knows all about personal finance would have such debt. I don't have as much as some people, but I have way more than what I'm comfortable with.
I'll be the first to admit I've made some stupid choices. I haven't used all my money wisely. But that stops now. No more. I'm getting rid of my debt once and for all. Not all of it is from unwise spending, however. I did have several large medical bills that needed to get paid, so I put those on credit. But I am absolutely done spending on unnecessary items. I want this debt gone!
Here is a look at my income, expenses, debts, and savings. As I said in my previous post, I do work on commission,
so my projected monthly bonus fluctuates. My goal is to put all of my bonus checks towards my debt. First, I'll tackle the BofA Loan because it has such a high interest rate. I want that gone ASAP. Next I'll focus on the credit cards. And lastly I'll tackle the car loan. I plan on putting most of what is in my emergency fund account toward my debt. I'm not worried about losing my job, so I'll probably leave around $500 in my emergency fund and put the rest toward the BofA Loan. I'm pretty happy about how my 401k is looking, I didn't think it was that high, so I'm very excited about that. I will probably continue to add $100-$150 each month to my various savings accounts to keep those growing, but the bulk of my money will be going to pay off debt!It was quite a shock to tally up the debt totals. I feel ashamed and embarrassed. A lot of the PF blogs out there talk about their debt and income and savings. I hope to achieve financial freedom and build my savings/retirement!
If anyone has any blogging tips/paying off debt tips, please share them! =)
- Bank Gal
posted by Bank Gal at 10:38 AM
