April 5, 2009

Update & Tools I Use

So I have a tiny update to add. My CDN CC is now $28,539CDN. Now, I have to be honest…since my CDN CC has such a high limit, I do sometimes use it to make purchases. This is one of the things that I am working on is not using the cards, or using them responsibly.

Husband and I have only been married for just over 2 years, and we are still renting, which is nice (we only pay $850 a month in Northern VA) but I have been dreaming of owning our own home. We are hoping to be able to do this sooner rather than later. The earliest we could buy would be Dec. 1 as that is when our lease is up.

We have 3 problems though:
#1: We don't have much in savings for a down payment yet.
#2: We need to pay down a lot of our CC Debt (not including the CDN debt)
#3: Our credit scores aren't that high (which will change with the reduction in CC Debt)

If we can knock out #2 while adding to #1, #3 should improve. No problem right? Easier said than done!

But, we're not giving up, and we know that we will get there. It just might not be as quick as we want.

One thing I have found that helps with our finances, is having a personal software to help crunch and keep track of the numbers. I use Quicken, and have found that I am able to know exactly how much money we have at any moment, which wasn't the case when we first got married.
Husband is terrible with money. TERRIBLE. Which is why his credit isn't as good as it can be. While he likes to know what's going on, I'm the one who takes care of all of the bills, making sure that nothing gets lost, or behind, or late.
One thing I have to be very proud of is that I have NEVER been late on a payment. And I plan on keeping that way.

Hopefully a better update soon! :)

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