I think it depends on if you have an E fund in place. If you don't I would fill the e-fund and then if it were me I would put 50% toward the bills and 50% toward an expense account.
I think it's been said to have 3 months of expenses saved along with the E-fund.
If you have that then I would definately put it into the bills.
I personally like to put some aside for savings, even though everything I have read says to keep snowballing it into your other cards for quicker pay off.
Maybe you should go to the online snowball calculator and put your amounts in and see how it looks and if that motivates you a certain way.
I know what my "safety net" is and $300 extra is a lot of money to just end up in the wrong place. If you are use to putting it toward a specific bill you might just want to continue doing so, as long as you have your e-fund in place.
I like to split the difference - if I have money left over then I split it into the e-fund and then some to a bill. But, everyone feels differently about how they let go of money. For me it's very difficult to let it go.
I think it depends on if you have an E fund in place.
If you don't I would fill the e-fund and then if it were me I would put 50% toward the bills and 50% toward an expense account.
I think it's been said to have 3 months of expenses saved along with the E-fund.
If you have that then I would definately put it into the bills.
I personally like to put some aside for savings, even though everything I have read says to keep snowballing it into your other cards for quicker pay off.
Maybe you should go to the online snowball calculator and put your amounts in and see how it looks and if that motivates you a certain way.
I know what my "safety net" is and $300 extra is a lot of money to just end up in the wrong place. If you are use to putting it toward a specific bill you might just want to continue doing so, as long as you have your e-fund in place.
I like to split the difference - if I have money left over then I split it into the e-fund and then some to a bill.
But, everyone feels differently about how they let go of money. For me it's very difficult to let it go.
xoxo
Shannon
Yeah the 240 is all I have, that i guess would be my E-fund... I guess perhaps I should build that up and flake it.....
Maybe for a 70% to Efund /30 to flaking?
If it was my snow flake, I'd do the first two months to the efund.
Norma
"Patience is the best remedy for every trouble"- Plautus
ITA with Norma.
Get that efund up with at least 2 full car payments and then split up the difference. Congrats on paying off the car! Yay!
Bex -
"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."
Bex -
Snowflake 100% to your savings to get it up to $1000.
I agree with PPs. Get efund to 1000, then concentrate on debt.