General Goals 1) to be debt free in 3.5 years 2) save lots of money

Tuesday, November 30, 2010

Monthly TD Line of Credit

It is the end of the month and time to find out what my student debt is at. This month I put in 150.00 +65.00 +200.00 = 415.00.
In total this month I put in 415.00. This brings my total line of credit down to $33,189.37. This means that in total I have put in $1,191.44. I am very proud of this number. I know that its not massive but it is a start.

34,380.81 - 1,191.44= $33,189.37

$415.00 is not enough to meet my debt repayment goals so how do I increase this amount. I have bee reading a lot of other blogs to get ideas. One of the blogs that I was reading had a 'snowflake jar' which puzzled me. So I googled it and came across another idea to help pay down my debt. The idea of snowflake finance is to put what ever is left over even it its only 25 cents in to your debt. So I am going to try this method. Actually I already did with my lay 2 pays ago. The money that was left over before last pay was almost enough to completely pay off the remanning debt to Dave. This made me feel really great! So I am completely on board with this idea. I hope that the $24 will be the first to go into my 'snowflake fund' aka my Student Debt.

What about you? Will you start a snowflake jar?

1 comment:

  1. I usually throw my small change into a jar and it quickly mounts up, but in all honesty I use it to buy myself little treats.
    However I am going to be working with a cash budget next year and all leftover money will be going to debt repayment.