Script Pipeline

If you're constantly putting money in and taking money out of your savings account, you're probably saving too much. Their income is $4,268 per month. We are going to add about $1,000 here for overtime pay, and I'm hoping that they can get some more of this soon. This would make the income $5,268, and then their monthly expenses are $5,564. Now we have negative $296, but we have $732 going into savings. For now, I would lower this down to $100 a month and don't touch it while you focus on getting the debt paid off. This frees up $632 in the budget. Now we have a positive $336. And again, the more overtime we have, the higher that number will be. We also have a lot of pay later type accounts here. That would free up another $445 once those are paid off. Let's look at doing velocity banking. Again, we take the income. We go through. We subtract all of the cash expenses, which are anything that cannot be paid with a credit card. We're only doing $100 to saving, so $3,296 are the cash expenses. This leaves $1,976 that we can pay to the credit cards. They're going to take out interest probably around $560. This leaves $1,416 that we can pay the remaining bills with. All of the remaining bills that are going back on the card total $708. This means the balances on the cards should be going down $708 per month. So number one, don't try to save too much while you're paying off debt. Another thing, these balances will be paid off eventually, and it's going to free up more money that you can use to pay the credit cards down. And since they have access, the overtime pay is really helpful.