not bad for the first month back

iVillage Member
Registered: 06-25-2006
not bad for the first month back
5
Tue, 06-23-2009 - 5:45pm

Since I started with renewed commitment to paying down my debt June 1st I have paid down $1,100 for the month.

Granted this is almost all from payments made and very little snow flaking.But less debt is less debt. I usually tack on money to each payment depending on what we have but remembering to track what is a snowflake versus what is a payment always ends up frustrating me. This tracking how much I have paid down every two weeks seems to work better for me. All of this REALLY makes me realize how much discretionary income we would have if it wasn't going to debt...blech.

I am not counting my happy chickens yet, far from it, but at this rate if we can sustain it we will be on track to pay down the debt in 3 years and I am confident that with a little effort we can do it sooner.

Avatar for sohappilyme
iVillage Member
Registered: 03-26-2003
Tue, 06-23-2009 - 9:59pm

Congratulations! That's so wonderful - I'm proud of you!

I just make a plain old list of my flakes and total it each week. (Yeah, me with the spreadsheets you need a degree in engineering to understand - JUST a list!) I just LOOK for things to add to the list, LOL. Well, maybe not this month, but most months I'm looking for them! This month I'm just going for good old fashioned survival!

Sarah


sahm, wahm, homeschooling mom to

Sarah
iVillage Member
Registered: 11-17-2007
Tue, 06-23-2009 - 10:06pm

I do everything by bill pay and on quicken. I put in my normal payment in bill pay then any more money that I put in bill pay other then the normal payment I put "SF" next to it.


Then at the end of the month I add up all the amounts with "SF" next to them


That way I have a total to give Becky for the month and the page.


Mary Ann

iVillage Member
Registered: 06-25-2006
Tue, 06-23-2009 - 10:36pm
Quicken, spreadsheets I have tried them all. Honestly nothing works better for me than an old fashioned notebook. I guess whatever works - even if it is more manual - is the best way to go. It has taken me some time to accept that but it's true for me!
iVillage Member
Registered: 11-14-2008
Wed, 06-24-2009 - 1:55pm

You know if you put the exact same amount on the cards each month or time period eventually it will go down faster and faster because more will be principle and less interest as the numbers go down. Who cares about flakes. Just guess a little more with each payment(as long as you are not still charging.

Very good for one month!!


iVillage Member
Registered: 06-25-2006
Wed, 06-24-2009 - 3:15pm

Yes I do know that will help the principal get paid down sooner. Our motto is put as much to each card each month as we can. We always make the minimum payment and then each week (or even randomly) throughout the month if we have an "extra" $20 here or there we do an automatic payment to the card.

Every little bit helps!