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A new year, a new plan...

January 14th, 2008 at 12:16 pm

Iíve decided to start my blog again in 2008. I kept up with this site all throughout 2007, but kind of lost the motivation to write anything myself. I did okay financially last year, but I really need to buckle down on a few things this year, and I hope keeping track of my progress (and setbacks) on this site will help.

So far, Iíve contributed $46.11 to my $20 challenge. Each time I make an addition; I transfer or deposit the money to my savings account. Iím using this money to pay off some debt, and I now have a plan to accomplish this (I hope). I know meÖ. Iíve always had problems with making small payments on bills or debts. I want to see the debt gone, and Iíve had the tendency in the past to wait until I could pay the amount off in full. It just doesnít make sense to keep doing it that way, so Iím trying to get past my issues with this. Iíve decided that every month on the 10th, 20th, and 30th, I will take my challenge money balance and make a payment on whatever debt I am working on at that time until it is paid off in full. Then, I will move on to the next debt.

My first payment was this past Thursday, and I decided to round up to nearest $5, so this timeÖ. I paid $50 towards Debt #1. Only $63 more to go until it is paid in full.

My goal is to have each on of the payments equal at least $50, or at least average out to $50. The first six debts on my list all have fairly small balances, and the total for all six is less that $1500.00, so using the extra $150 per month gives me a payoff date of October 2008. Iím giving myself an accelerated goal of June though, and I think I can do it!! Iíll just have to come up with some things to sell on ebay or craigslist to come up with an extra $100 per month. Or maybe I could just trim off some other budget items a little. Weíll seeÖ.

2 Responses to “A new year, a new plan...”

  1. Broken Arrow Says:

    Welcome back. Smile

  2. JanH Says:

    Glad you have returned! Sounds like you've got a good plan in place. Keep us posted!

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