Square One: Net Worth

I don't know where to start.

I should have a game plan on how to rebuild my emergency fund and pay off P 122,000 of credit card debt, but I don't. At least not yet.

Just thinking about it makes me feel anxious and overwhelmed.

I am in the effin' RED!

This is where I stand right now.

I just received my salary and haven't paid the bills and mortgage amortization yet. So, things are a lot worse than the negative 18k net worth computed above.

Anyway, for now, I am avoiding googling for strategies. I have a tendency to spend 20 million hours researching but end up doing nothing. I know myself enough to just do one thing to get everything started. So to kick things off, I picked up an unused journal and started jotting down all my expenses for the day. I'll try to be diligent with this for at least a week so I know where my money goes and where I can spend less on.

I am anticipating that I won't be able to significantly reduce my credit card debt this month because I will be travelling. Before you smack me in the head, know that this vacation was planned 3 months ago. I already booked tickets and accommodation. My gut tells me that it's best to cut losses and cancel the trip. But I decided to push through with it; like a last hoorah-type of activity as I look forward to hell months. I'll try my best to spend the least amount possible.

P.S. If anyone's out there, I hope you could recommend resources on debt-reduction, including inspirational stories.

P.P.S. Credit to Save Spend Splurge, one of my favorite personal finance blogs, for the net worth spreadsheet format. Check out the website! It's awesome.