Well, here we are, 2008. I’ve updated my monthly budget to reflect an all out attack at my credit card debt. Those of you that have been reading my posts, know that I have decided to focus most all of my money at knocking off my debts one-by-one. I have knocked off one credit card so far (7 credit card in total – 5 to go) and am now focusing as much money as can be spared toward the card with the lowest balance.

I’m using the debt snowball method now. So, I’ve adapted my 2008 Budget/Spending Outlook to reflect increased payments due to paid-off loans as I go. This (hopefully) will help me not only keep on track, but see this plan in a realistic light. I will not be debt free in 2009 – barring any new-found luck in the lottery (and yes I know the lottery odds and how it’s bad and so on…), but I will be closer. And as that’s a very good thing.

My decrease in savings is due to a car repair and a debt payment. I’m hoping to use some of my tax refund to replenish my emergency fund to $1000. Whatever is left I will put towards my large debt payment.