12. Allocate 35% of net income to personal debt repayment (31x31)

Being made redundant in a "reduction in force" in July 2011, this item was seriously hindered. Because it was a RIF, I was eligible for unemployment AND deferment on my student loans (thank the baby buddah). I'm also incredibly lucky that my family was able to sustain the payments to credit organizations too.

Not like I was making big bucks when I was an entry level consultant, but damn. Let's look at it this way, let's say the average income from Jan2011-July2011 was 100%. My income with the unemployment and gifts from my family and odd jobs here and there from Aug2011-Nov2011 was 45% less than what I had been earning. After I boomeranged back to Virginia, up until now (Dec2011-Mar2012), my income is 70% less than what I was earning the same time this year. damn, gina.



That being said, because I was able to return to the roost and even though I'm only making 70% of what I used to, I have been able to make some debt repayments in the past 3 months.



The average percentage of my net income to debt repayment is 24% since January 2011. Broken out among the major life changes:
31% when I was fully employed living in Delaware,
13% living in Delaware unemployed,
25% living in Virginia unemployed.

Currently, I'm working a temp job. I'll sock away as much as I can towards my debt but I don't think it's reasonable to set any sort of expectation for the next year unfortunately.

Over and out.