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This has been a quiet month for me. Well, in regards to blogging atleast. Nothing really big going on that I’ve felt the need to write about. I’ve spent the month aggressively attacking my very outstanding debt. I managed to pay down $5000 this month which is a big chunk of stuff that was in collections. Out of 7 accounts that are Charge-Off’s on my credit report, I paid off 5. The two left is my smallest and my biggest. I should have those paid off in the next 4 months I hope. I’m also looking for a place to move. I need to be out of my current place by August 1. So I’ve been putting stuff up on craiglist and ebay hoping to get a few extra bucks and make my move a little less painful. Also my TV died on me. I have a 32″ Norcent LCD that starting giving me problems a few weeks ago. It’s in the shop right now and I hope it can be fixed for a decent amount. I should know in about another week.

I’ve also applied for a promotion at work. The only other guy going for it is above me so I’m kinda in a win win situation either way. One way I get the job or if he gets it, I make a move for his. Both will require me to move to days as I work nights now but with me trying to get my financial situation under control and moving to a new place, the extra income will be nice. Its so expensive to live by yourself here in CT, I’m going to have to move in with a roommate for the next 6-12 months. By that time I will start to have rebuilt my credit and have enough money to maybe get a place of my own again. So the next couple months will be interesting and possible steps forward for me.

Alec out.

The other area in my life thats getting a makeover this month is my finances. Starting this month I’ve developed a budget and a course of action for my debt. I’ve been using wesebe.com to keep track of my money almost daily. Wesebe hasn’t been perfect but its been what I need for now. Hopefully as the site matures, new features and bug fixes will be added. Only thing I’d really like to see is automatic updates of my accounts instead of the chore of downloading each statement then uploading them.

One of the first things I did this month was to give myself an “allowance”. I tend to get carried away with purchases and I’m a sucker for impulse buys so instead of doing the “envelope” method, I went with a more forceful approach.

I’ve given myself $100 allowance a week to live on. On Friday when my paycheck gets direct deposited, I transfer $100 to my Paypal account right away. I only carry my PayPal debit card with me instead of my bank’s debit card. Actually I have my bank card stashed away so its hard to get at. The $100 has to keep my cars gas tank filled, keep me feed and any purchases I’d like to make for myself during the week. Another advantage for me is that it takes 3-4 days to transfer money into my PayPal account from my bank. This curbs the thought of just transferring money onto my card if I want to make a purchase and don’t have enough in my PayPal account at the time.

Due to my work schedule, I tend to eat out ALOT. This was a big money hole for me that I’m trying to fix. Due to my “allowance” I have to be careful when and if I eat out now. If i want to pick up the newest game, comics or DVD this week, I’m going to have to pass when the guys order a pizza at work. To get me eating better, I allow myself to use my bank card if I actually go shopping at a store. This gives me incentive to make a shopping list and try and find the best deals so I don’t have to dip into my allowance.

The second thing I did was to setup an ING Direct Savings account. For the past few months I’m been trying to put money into a savings account at my bank. Problem with that is I always saw what I had in savings which gave me a false outlook on my money situation. I could always move money out of my savings account immediately if I needed extra money. With ING the money is deduced automatically and it goes into a different savings account that I don’t ever have to look at. Plus it offers 4.5% interest. My plan is to forget about that savings account and just let it keep growing and adding interest.

I got a lot of financially rebuilding to do but these are just the first few steps I’m taking. Next month I plan on calling all my creditors and get a “state of the union” from them so I can devise a debt reduction plan.

Got my first Where’s George dollar from change at Dunkin Donuts. Entered it into the website and I was the first one with that serial number. Oh well, was hoping for a more well traveled one but still pretty cool none the less. Send him off today to continue his travels.