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Raises and bonuses

September 17th, 2008 at 07:58 pm

OK well I haven't updated this in a bit but I will now. My wife found out today she is getting a $20,000 raise from $60k to $80k. Obviously we're thrilled. Not only that but I found out I'll be getting $3334 in bonus money every four weeks starting in late September and going through November ($10,000 total) so we will be able to really kill the debt AND have some money for the holidays.

I wanted to update the tracker because I was able to put close to $10,000 on Card 3 while I was away. Here are the latest numbers hot off the press:

Debt tracker 07/28/08
Card 1: $42378.65 (8.99%)
Card 2: $29891.21 (8.99%)
Card 3: $5711.32 (10.99%)

Card 3 has a very short life to live! Adding her income boost and the bonus money I'll be able to pay off Card 3 and make a serious dent in Card 2 by the beginning of October. Not only that but we have THREE pay periods in October so I can pay the mortgage on the 29th and use the paydays from the 1st and the 15th AND the bonus money in October ALL on paying off these balances.

This is going to be one sweet 4th quarter! I thought I'd share the love since this place has been so good to me for so long. I'm glad we're finally getting a hold of this thing!

Posted in I-78's Informative Additions, Watch our debt go to zero! | 8 Comments »

8 Responses to “Raises and bonuses”

  1. dmontngrey Says:
    September 17th, 2008 at 08:10 pm 1221682235
    1221682235

    Wow, GREAT news!

  2. fruitbowlk Says:
    September 17th, 2008 at 08:33 pm 1221683591
    1221683591

    How exciting.

  3. Petunia Says:
    September 17th, 2008 at 08:34 pm 1221683655
    1221683655

    Wow! Good for you and your DW. You've both been working hard and it shows!

  4. creditcardfree Says:
    September 17th, 2008 at 10:21 pm 1221690075
    1221690075

    Excellent job!!

  5. fern Says:
    September 17th, 2008 at 11:56 pm 1221695792
    1221695792

    That's fantastic! Geez, what kind of business are you guys in, anyway?

  6. I-78 Commute Says:
    September 18th, 2008 at 12:21 am 1221697269
    1221697269

    Thanks thanks thanks guys and gals! fern we're in the audio-visual systems integration business (on a large scale...well at least for us. Revenue wise we're in the 20-25 million/year range.) We have ownership in the company (it's private) and the sales and margins have been really good this year so the extra money has been coming through in waves. I'm an IT guy and the wife runs the marketing dept and also is kind of the den mother (we have 75 employees total.) Business has been around since the early 1950's so it's pretty stable. Well that's the quick snapshot...thanks everyone and we are really staying motivated to get all this dumb debt paid off. I can't wait until the day where I will not have a debt reduction tracker category anymore!

  7. merch Says:
    September 18th, 2008 at 02:40 am 1221705624
    1221705624

    Nice work. Keep the focus.

  8. boomeyers Says:
    September 19th, 2008 at 05:13 am 1221801209
    1221801209

    How wonderful!! I can't wait to see your numbers go to 0!! I hope you will still visit us as you make new savings goals to achieve!!

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