Confessions of a Laid-off Lawyer

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

Archive for the ‘Days of Accounting’ Category

Twelfth Day of Accounting

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Total Black: $109.30

Here’s the Breakdown:

Primary Checking: $12.21
Secondary Checking: $80.64
Savings: $5.50
PayPal Account (Personal): $0.00
PayPal Account (Blog): $0.00
Amazon Payments Account: $0.005
Mutual Funds Account: $0.00

FICO Score 513

Total Red: $270,527.19

Here’s the breakdown:

Credit Card Debt:

Master Card: $4,699.50
Visa: $7,651.50
Visa: $4,000.00
American Express: $2,382.10
Raymour & Flanagan Credit Line: $6,340.68
Saks Fifth Avenue Credit Card: -$0.10

Student Loan Debt:

Federal Stafford Loans: $94,504.20
Private Student Loans: $31,610.26

Back Taxes:

IRS (2007): $0.00
IRS (2008): $27,041.05
IRS (2009): $0.00

NY State (2008): $0.00
NY State (2009): $0.00

Other Loans:

My mother: $72,000.00
My sister: $1,800.00
Auto loan: $18,498.00

Well, there it is.  The good, the bad, and the ugly.  All laid out.  And that’s about as “bad” and as “ugly” as it’s gonna get.  But certainly not as good.  Keep reading . . .

Supplemental Day of Accounting

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Total Black: $85.38
Total Red: $243,602.66

Total Red is down from earlier this week—all-time high of $246K.  But it’s up from yesterday’s post: My First Car.  And all numbers are up from my Eleventh Day of Accounting, so I thought perhaps I’d update my numbers before the 10th of the month, especially because of the recent changes to my finances.  An abbreviated version follows below: Keep reading . . .

Eleventh Day of Accounting

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Total Black: $844.57

Here’s the Breakdown:

Primary Checking: $323.89
Secondary Checking: $115.85
Savings: $9.46
PayPal Account (Personal): $395.37
PayPal Account (Blog): $0.00
Amazon Payments Account: $0.005
Mutual Funds Account: $0.00

FICO Score 502

Total Red: $240,126.52

Here’s the breakdown:

Credit Card Debt:

Master Card: $4,505.33     [down $1,125.21 from August 2009]
Visa: $7,649.67     [down $213.00 from August 2009]
Visa: $4,912.54     [down $154.42 from August 2009]
American Express: $2,325.36     [down $42.04 from August 2009]
Raymour & Flanagan Credit Line: $6,340.68     [up $692.93 from August 2009]
Saks Fifth Avenue Credit Card: $412.23     [not listed in August 2009]

Student Loan Debt:

Federal Stafford Loans: $94,504.20     [no change from August 2009]
Private Student Loans: $31,664.44     [down $2,504.06 from August 2009]

Back Taxes:

IRS (2007): $1,438.11     [down $792.49 from August 2009]
IRS (2008): $28,275.80     [up $797.07 from August 2009]
IRS (2009): $2,840.00     [not listed in August 2009]

NY State (2008): $0.00    [down $2,846.59 from August 2009]
NY State (2009): $2,785.00     [not listed in August 2009]

Other Loans:

My mother: $49,473.16     [up $9,473.16 from August 2009]
My sister: $3,000.00     [not listed in August 2009]

This month—for the first time—I decided to compare the changes in the numbers from August 2009 when I first posted my stats, back in Day of Accounting.  Looking at everything laid out like this really brings the reality home.  Keep reading . . .

Written by Laid-off Lawyer

June 10, 2010 at 22:51

Tenth Day of Accounting

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Total Black: $2,940.82

Here’s the Breakdown:

Primary Checking: $2,937.02
Secondary Checking: $0.00
Savings: $3.09
PayPal Account (Personal): $0.71
PayPal Account (Blog): $0.00
Amazon Payments Account: $0.005
Mutual Funds Account: $0.00

FICO Score [pending]

Total Red: $234,907.81

Here’s the breakdown:

Credit Card Debt:

MasterCard: $5,000.00
Visa: $7,837.42
Visa: $4,794.08
American Express: $2,435.26
Raymour & Flanagan Credit Line: $6,340.68
Saks Fifth Avenue Credit Card: $370.18

Student Loan Debt:

Federal Stafford Loans: $94,504.20
Private Student Loans: $31,813.92

Back Taxes:

IRS (2007): $1,438.11
IRS (2008): $28,275.80
IRS (2009): $2,840.00

NY State (2008): $0.00
NY State (2009): $2,785.00

Other Loans:

My mother: $46,473.16

Umm . . . yeah . . . so . . . total red is clearly going the wrong way.  And I don’t foresee an opportunity anytime soon to stop it.  But that’s ok because sometimes you need to let something bleed out first.  Keep reading . . .

Written by Laid-off Lawyer

May 10, 2010 at 23:12

Ninth Day of Accounting

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Total Black: $1,942.16

Here’s the Breakdown:

Primary Checking: $1,400.09
Secondary Checking: $539.00
Savings: $2.36
PayPal Account (Personal): $0.71
PayPal Account (Blog): $0.00
Amazon Payments Account: $0.005
Mutual Funds Account: $0.00

FICO Score 506

Total Red: $229,689.31

Here’s the breakdown:

Credit Card Debt:

MasterCard: $5,588.01     [Minimum payment for April = $214.00.  APR 27.24%]
Visa: $7,689.56     [Minimum payment for April = $292.00.  APR 27.24%]
Visa: $5,039.00     [Card closed.  Minimum payment for April = $206.00.  APR 27.24%]
American Express: $2,400.23     [Minimum payment for April = $48.00.  APR 27.24%]
Raymour & Flanagan Credit Line: $6,340.68     [Account closed.  Entire balance due]
Saks Fifth Avenue Credit Card: $0.00

Student Loan Debt:

Federal Stafford Loans: $94,504.20
Private Student Loans: $31,940.56

Back Taxes:

IRS (2007): $1,438.11
IRS (2008): $28,275.80
NY State (2008): $0.00

Other Loans:

My mother: $46,473.16

Already my ninth day of accounting.  And, as requested in a comment by Anon, this month I’ve broken out my APR and minimum payments for the month for my credit cards.  Keep reading . . .

Eighth Day of Accounting

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Total Black: $219.05

Here’s the Breakdown:

Primary Checking: $28.50
Secondary Checking: $0.00
Savings: $2.22
PayPal Account (Personal): $2.91
PayPal Account (Blog): $100.08
Amazon Payments Account: $0.005
Mutual Funds Account: $85.34

FICO Score 506

Total Red: $226,635.41

Here’s the breakdown:

Credit Card Debt

MasterCard: $5,626.80
Visa: $8,160.00
Visa: $5,5,288.67
American Express: $1.537.62
Raymour & Flanagan Credit Line: $6,340.68
Saks Fifth Avenue Credit Card: $414.72

Student Loan Debt

Federal Stafford Loans: $94,504.20
Private Student Loans: $32,155.65

Back Taxes

IRS (2007): $1,438.11
IRS (2008): $28,275.60
NY State (2008): $0.00

Other Loans

My mother: $42,973.16 (+ additional $4,000 loan to help with February and March 2010 rent). Keep reading . . .

Written by Laid-off Lawyer

March 10, 2010 at 23:27

Seventh Day of Accounting

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Total Black: $585.56

Here’s the Breakdown:

Primary Checking: $0.00
Secondary Checking: $500.00
Savings: $0.00
PayPal Account (Personal): $1.05
PayPal Account (Blog): $3.58
Amazon Payments Account: $0.005
Mutual Funds Account: $80.93

FICO Score 487

Total Red: $228,999.10

Here’s the breakdown:

Credit Card Debt

MasterCard: $5,549.67
Visa: $8,128.78
Visa: $5,949.67
American Express: $417.64
Raymour & Flanagan Credit Line: $6,178.12
Saks Fifth Avenue Credit Card: $272.19

Student Loan Debt

Federal Stafford Loans: $96,810.17
Private Student Loans: $33,317.19

Back Taxes

IRS (2007): $1,285.85
IRS (2008): $28,116.66
NY State (2008): $0.00

Other Loans

My mother: $42,973.16

Seventh day of accounting, but only the sixth month in. Keep reading . . .

Written by Laid-off Lawyer

February 10, 2010 at 23:48

Sixth Day of Accounting

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Total Black: $708.59

Here’s the Breakdown:

Primary Checking: $9.95
Secondary Checking: $609.42
Savings: $0.00
PayPal Account (Personal): $2.43
PayPal Account (Blog): $0.00
Amazon Payments Account: $0.005
Mutual Funds Account: $86.79

FICO Score 501

Total Red: $230,476.54

Here’s the breakdown:

Credit Card Debt

MasterCard: $5,713.17
Visa: $8,232.42
Visa: $5,644.17
American Express: $2,200.00
Raymour & Flanagan Credit Line: $6,068.68

Student Loan Debt

Federal Stafford Loans: $96,810.17
Private Student Loans: $33,414.26

Back Taxes

IRS (2007): $1,285.85
IRS (2008): $28,116.66
NY State (2008): $0.00

Other Loans

My mother: $42,973.16

Once again, it’s that time of the month.  Keep reading . . .

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 . . .

Fourth Day of Accounting

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The 10th of the month has arrived already and with it comes my fourth day of accounting.

Total Black: $64.23

Here’s the Breakdown:

Primary Checking: $0.06
Secondary Checking: $0.00
Savings: $0.00
PayPal Account (Personal): $0.22
PayPal Account (Blog): $0.00
Amazon Payments Account: $0.00
Mutual Funds Account: $63.95

FICO Score 497

Total Red: $230,977.94

Here’s the breakdown:

Credit Card Debt

MasterCard: $5,813.86
Visa: $8,268.35
Visa: $5,737.47
American Express: $2,398.31
Raymour & Flanagan Credit Line: $5,903.91

Student Loan Debt

Federal Stafford Loans: $96,810.17
Private Student Loans: $33,840.63

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 this month is abysmal.  Keep reading . . .

Third Day of Accounting

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It’s the 10th and my third day of accounting.

Total Black: $673.47

Here’s the Breakdown:

Primary Checking: $43.21
Secondary Checking $507.02
Savings $1.73
PayPal Account (Personal): $0.52
PayPal Account (Blog): $48.25
Amazon Payments Account $10.14
Mutual Funds Account: $62.60

FICO Score 565 (unchanged from last month)

Total Red: $230,280.28

Here’s the breakdown:

Credit Card Debt

MasterCard $5,650.00
Visa $8,050.00
Visa $5,728.28
American Express $2,500.00
Raymour & Flanagan Credit Line $5,698.98

Student Loan Debt

Federal Stafford Loans: $96,810.17
Private Student Loans: $33,891.93

Back Taxes

IRS (2007): $1,231.72
IRS (2008): $27,792.93
NY State (2008): $2,926.27

Other Loans

My mother: $40,000.00

Just in time for my third day of accounting, my internet service has been restored. It cost $538.70 too. I guess I was quite a bit behind. It’s been a busy past few days. Keep reading . . .

Second Day of Accounting

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It’s the 10th.  My day of accounting.  Here’s this month’s breakdown:

Total Black: $462.36

Here’s the Breakdown:

Primary Checking: $347.14
Secondary Checking $0.00
Savings $0.00
PayPal Account (Personal): $4.62
PayPal Account (Blog): $48.25
Amazon Payments Account $0.74
Mutual Funds Account: $61.61

FICO Score 565

Total Red: $228,312.70

Here’s the breakdown:

Credit Card Debt

MasterCard     $5,700.00
Visa     $8,005.65
Visa     $5,413.38
American Express $2,448.00
Raymour & Flanagan Credit Line $5,698.98

Student Loan Debt

Federal Stafford Loans: $94,504.20
Private Student Loans: $33,986.57

Back Taxes

IRS (2007): $2,230.60
IRS (2008): $27,478.73
NY State (2008): $2,846.59

Other Loans

My mother: $40,000 (+ $8,000 she’s carrying on one of her credit cards–not added into total red).

Some progress, albeit slow.  Last month my FICO score was 562.  It went up by three points.  My total debt seems to have done down a lot since August 10th.  I think that was a mistake in my math.  There hasn’t really been any significant movement on either black or red since I started this blog.  Curious.  Two additions to total red: I’ve added in a PayPal account for blog donations.  As I noted in Getting Out of the Quicksand, I’m not touching those funds until there’s enough to pay off a bill (or until time on the project runs out).  The other addition is a mutual fund account I started reinvesting with.  Savings have to start somewhere.  Daily posts of total red include some amount, here roughly $60, that isn’t accessible but gets tailed on the plus side of the equation. Keep reading . . .

Day of Accounting

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Well . . . breakfast is complete.  The tea steeped and drunk already.  (And I’m about to start the coffee . . . generally don’t like coffee upon waking.)  And yet no blog.  But for good reason.

I began to blog, but then remembered that I needed my credit score and all the financial data first.  That took a bit of time and purchasing (having to pay for credit reports and scores annoys me).  So, now I begin again.  But first . . . an initial digression about the date (as the telephone just interrupted me), then another digression about money. Keep reading . . .