I have Two Credit cards that total $4,500 respectively,(My only negative debt) .I was doing excellent in paying my monthly payments, But because of a drop in my income, my payments became irregular to the point I could not keep up and had no choice but to stop all together, The whole process became worrisome for me, because it is my obligation and I can't continue. My cards are Locked and no longer used.(One acct. is closed by Creditor)
My rent pyt went up, my Utility pyt went up as well as my Car insurance. This has put a dent in my monthly income. I'm a senior citizen who lives on Social Security Benefits and Alimony. I'm retired/Single/Live alone.
When I access "Overview" it shows my total Debt Amount, but then when I access the TOTAL DEBT Link it shows my Total Debt as $0. This I do not understand.
I'm not married, but have a long-time Significant Other. We were struggling each month to pay bills on time, and wasting a lot of money too. I knew in my head that we were making enough money to live off, as well as being able to afford a car payment, it just wasn't working out in reality.
My solution was to make a list of all the fixed bills each month - tv, internet, insurance, rent, etc. and came up with a grand total. I divided that by 4 and came up with a dollar amount needed each week to pay the basic bills. Then I took my SO to the bank and we opened up a joint checking account for bills only. We both direct deposit enough money each week from our checks to cover those bills, with the balance going into our own individual checking accounts. The money in those accounts goes for gas, groceries, savings, impulse spending.
It's surprising how easy it's been to stay on track this way. The evening before payday, I see how much is left in my individual account, and allocate half of it to erasing past debt, and the other half into my emergency savings account. We've gone from being behind every month, to caught up and saving money every month now!
Again, I keep reading your post to see if it would work for me, And I do find it interesting to open a stand alone acct just for bills. But the last part "About "Money Left over" right before payday add it to your balance that's negative" for myself" whatever I have left after paying bills, keeps me going until maybe a day or two before payday. There is never "Money" leftover.