After using most of our savings for the down payment for the rental insurance and a lot of our major bills coming due such as Life Insurance: $865, CBR Fees: $250, Condo #1 Insurance: $240, Air Fare to CA: $1280. Also some other things coming up like Little Ripples' dental appointment today, Mr. Ripples needing new shoes for work and other little things that keep adding up, I'm starting to get a little worried. We haven't had a credit card balance in years. I've always saved up money in advance to pay for any annual bills, usually the money coming from our tax return.
Since I used that savings for the new condo, our credit card has been taking a beating and the balance is close to $2500. I really want to pay it off before any interest is charged. I have about a month before the interest will start.
I just sent a payment for $762 and will have at least another $219 once the check for the new condo's August rent has cleared. I need to cut back on the grocery budget and all extra money will need to go towards the credit card bill to pay it off ASAP.
Luckily August is a 3 pay check month for us, except that is usually where we take our Christmas budget from.
We need to get back on course, set money aside for all the bills coming up and rebuild our emergency fund. I am really happy that we purchased the rental property as it was always something I wanted to do and we got a great deal on it, we just probably should have had a little more money saved up first to not be running so close on the budget. But we didn't get to choose when the property became a available so it is what it is.
Aug is a 3 check month for me as well. Yay. Don't panic (which I do) or overanalyze the expenses (which I also do). Just keep track of them, and let the dust settle before you go back to recount the steps and pick up the pieces. If your budget is still on track, then let it run its course and take care of the extras once they've been posted.
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