Thursday, April 12, 2012

My Steps to paying off Debt and Saving Plan

Hi Everyone I hope your day has been good.
I thought I would make a post about how my husband and I have decided to pay down our debt and our saving plan.
It is a little of Dave Ramsey a little of Amy a little of all the different books I have read.For me one plan has not worked.I am not a religious Dave Ramsey but I do like his envelope system.And so far it has worked for us.

So one day I was sitting down to pay bills and I was looking at the bills we have and the money we spend and I thought if I took just $100.00 and paid that extra on a bill.So that is what I did.I took our lowest credit card debit and paid the minimum plus addition $100.00.I paid that debt off and now I am working on debt number 2.I took the minimum payment plus the $100.00 plus the minimum from debit number 1,and have been paying on that.So my plan is to take the $100.00 plus the first debt I paid off minuime payment plus the next bill minimum payment and keep doing that until the debt is paid off.And keep doing this to each and every debit.
I hope this is not confusing.

My saving I have done a little different.I have a saving bar graph and this saving has been just extra money.That most of the time I would spend.Or I am ashamed to say not pay attention to.But I stopped that.Everything extra for example our washer went up after years of my husband keeping it running it finally died.And we took it to a scrape metal place we made $19.00.And I say we made it  because if we would have done what we always do we would have called the town and they would have charges us $35.00 to haul this away.But we didn't do that this time we rethought it.I have a saving but this has just made me think of all I waste.After bills are paid and all the envelopes are filled what I have done with the extra money.
I know I will make lots of mistakes on the way.But I also know slow and steady wins the race.
Until next time I hope the Lord keeps and bless you.

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