Procrastinating by thinking about the future

I'm currently procrastinating from writing a paper, so that's the reason for the flurry of posts. At least I'm being semi-productive. Better than hanging on The Purse Forum all day!

I've been thinking about what I want to achieve in the next couple of years, in all aspects of my life. I want to pay off my debt, graduate from school and get a good job, exercise daily and lose 20 lbs... Those are the desires that nag at me daily. I also want buy a house in the city where I went to undergrad (40 miles south of here), but I know I won't be able to do that for awhile. I'm aiming to have this accomplished by the time I'm 33. Anyway, one step at a time.

I would like to have zero credit card debt by the time I graduate. By 2011 (a year later), the car debt will be gone. I need to give serious thought as to how I'm going to first pay back the cc companies, and then work on getting the 10k back to my bf.

I'm going to tackle the Mastercard first, since it has the highest interest and the lowest balance. I'm selling a bag on ebay next week that will hopefully get me at least $2100. And I have about $600 of stuff to take back to the store. That should leave me a balance of roughly $2000. I can pay that off entirely as soon as my loan funds come in at the end of August. Meanwhile I'll pay the minimum on my Visa ($150).

I have no idea how I'm going to bring the Visa to $0 from nearly $9000. When my loan funds come in, I should have about $12k in my bank account. I'll get another $10k in January. My monthly expenditures are: rent (1050), gas (120), food (?), cell (150 - this is for both my bf and I, but it's the only utility I pay), and car (370). Assuming I'm not missing something (which I probably am), that adds up to $1690/mo. That's $6760 for 4 months. That leaves me $5240 for food/whatever else I'm missing. Oh, and if I pay the 2k off the Mastercard, I would only have $3240.

Would this work? $1000 in September '08, '09 ($2k)
$150 in Oct/Nov/Dec '08, '09 ($900)
$1000 in Jan '08, '09 ($2k)
$150 in Feb 08-09-10/Mar 08-09-10/Apr 08-09-10/May 08-09-10/
Jun 08, 09/Jul 08, 09/Aug 08, 09 ($2700)

That would be $7600 in total payments. If I'm doing the calculations right, in the course of two years, I'll be charged roughtly $1000 on interest. So I'd still have $2400 left to pay by the time I graduate.

I'm going to try to stick to this payment scheme. If I sell some other stuff on ebay, maybe I can still get it completely paid down. That would leave me the car payment, and I can start payment to my bf. Around November 2010, I'll have to start paying back the loans. But that point in time is a little fuzzy -- who knows, I might go back to school for a LLM... then I'd get the loans deferred for another two years.


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