Confessions of a Laid-off Lawyer

Just Your Average Joe Blogging Away His Debt—In One Year or Less

Archive for December 10th, 2009

Fifth Day of Accounting

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December 10th and my fifth day of accounting.

Total Black: $65.10

Here’s the Breakdown:

Primary Checking: $0.00
Secondary Checking: $0.00
Savings: $0.00
PayPal Account (Personal): $0.71
PayPal Account (Blog): $0.00
Amazon Payments Account: $0.00
Mutual Funds Account: $64.30

FICO Score 497 [to be updated]

Total Red: $230,322.41

Here’s the breakdown:

Credit Card Debt

MasterCard: $5,637.00
Visa: $8,133.82
Visa: $5,605.17
American Express: $2,402.17
Raymour & Flanagan Credit Line: $6,010.35

Student Loan Debt

Federal Stafford Loans: $96,810.17
Private Student Loans: $33,518.49

Back Taxes

IRS (2007): $1,280.08
IRS (2008): $27,952.00
NY State (2008): $0.00

Other Loans

My mother: $42,973.16

Total black is nil, but that’s mostly because I sent nearly everything to credit cards as well as a payment to the IRS.  I realized this morning that I haven’t been counting cash on hand in my numbers.  So, I suppose total black would be up by about forty dollars to account for the cash in my wallet.  I withdrew the remaining amount yesterday evening so that I’d use cash for the next few days.  I saw a bit of the Suze Orman Show the other day.  She’s pushing a Back to Cash movement.  I’ve been dancing around that issue for some time if only to avoid debit card insufficient fund fees.  So, I decided to commit myself to using cash for six months—the longest amount of time her site allows.  Here’s hoping I can keep my promise. Keep reading . . .