Cash Flow

Okay, more on the money situtation:

Our current gross income varies from year to year because my husband works on salary plus commission. Last year, he grossed about $57,000 and this year is on pace for about $62,000. Combined with my income, we should end up at around $95,000 this year.

The fact is, we make good money for the area in which we live. And the fact that we're swamped with debt is embarassing.

Here's another confession: we don't have a budget. We know what we spend on fixed expenses, but it's the other categories like gas, groceries, personal care, entertainment, etc. which are our downfall.

I'm going to put together a list of monthly expenses in my next post. I know there's a lot of fat that could be trimmed off our expenditures, but first I need to get everything down on paper.

Regarding assets:

We do have some savings. Here's a current snapshot:

Cash: $35
Checking: $65
E-fund: $141
401K 1: $XX,XXX
401K 2: $XX,XXX


So, there is a bright side. All our bills are current and are paid through Nov 1 except one that we haven't received yet. We have health insurance, life insurance, heat, food, lights and gas in the cars.

So my next steps are to figure out our expenses and also focus on some ways to build our E fund back up, since car repairs pretty much demolished it recently. I do have two auctions going on Ebay right now that end tomorrow, so I will funnel that money over to the savings acct as soon as they end.

Onward...