women... they are a drain on my finances.
You got that right. When you're broke, you can't give every woman the world. You have to go on picnics and free museums. If they don't understand that you can't buy them everything they want, send them packing.
Perhaps you should make a "fund" for projects. In your new budget, you don't have any spare money for projects, so as soon as you decide to pave the driveway, you don't have any money allotted to it, and you use your credit card. Either get friends to help you for free on projects, or minimize them until you get your debts paid off. You can't do both in your situation, and I think this is why your plans get derailed every so often.
Otherwise, I like your plan of attack, although I would use the overtime and bonus pay towards debt, not retirement, especially since you already have some $ going towards retirement right now.
Peachy... you're probably right on the derailment. I am hoping that putting aside money religiously (sp?) into my savings will help with this problem (which I have been doing for 2 or 3 months now). Since I have stated this I have only missed one paycheck to where nothing went into savings. I just didn't have it to put in there. Now that I have that 113 a month off my back (which feels great btw) I shouldn't miss another savings payment.
In reality, I guess my savings is my project fund because I am saving for things that I want. I do want to build it up and see just how high I can get it... but it's still there to cover the stuff I want and to keep me from adding to my debt. Currently I am adding $30 a paycheck to savings, and I get paid every other week.
Right now I only have 5% going towards retirement, and with me creaping up on 40 I am thinking I really need to be doing more. If memory serves me right... I've got around 33k sitting in retirement... thus my thought's of sending the extra's towards retirement. Do you still think I should be tossing the few bonus pay's I get towards debt considering that in 13yrs I'll have in my 20 and can retire?
I will double check my payoff spreadsheet and see if anything extra is needed to get my credit union loan paid off by the end of 2013 (which is my main debt goal). That loan alone is currently around 8 grand and with it gone it opens up 448 a month. IF I can get it paid off without the extra hours then I figured I'd be better off investing the extra in my retirement.
As for funding both my savings and retirement... this is what I have in mind.
Before paying off my mower I was moving $20 per paycheck to savings. Now that my mower is paid for I am adding another $20 per month to savings for a total of $30 per paycheck.
I currently have 5% going into my retirment and I thought about bumping that up to 8% since I paid off the mower. This however will take a little bit away from debt reduction and I'm not sure what that will do to my current payment schedule. I still need to run those numbers. I do however plan on bumping up my retirement to 10% once I get the Credit Union Loan paid off at the end of 2013, then for each debt "paid in full" I'll increase my savings by $20 and retirement by 5%. **edit**
I just ran the numbers and on my current paycheck the difference between 5% and 8% was 45.78. I am going to have to wait on bumping up my retirement amounts. That just takes way too much out of the $93 from paying off the mower. I need that to make my debt reduction goals for 2013.