Saving money and paying down debt.

I’ve been diving further into the world of personal finance blogs as Lovie and I look forward to the future.  I read many of these blogs written by 20-somethings and 30-somethings who talk of being free of thousands upon thousands of dollars of debt.  I think the most I’ve seen so far is $80,000 – holy shnikies!  I can thankfully say my debt is nowhere near that, but even my amount makes me gasp a bit.  It has also gotten me thinking – if they can pay off that much debt in a few years, then there is no reason that I shouldn’t be able to as well.

So I started looking at my spending/saving habits.  What am I doing to save money/pay down my debt?

Here’s a little list:

  • I always pay over the minimum on my credit cards each month, even if it is $50.
  • I am a coupon clipper.  Not as much as I used to be, and possibly not as much as I should be, but coupons are definitely my friend.
  • I have my Etsy shop, am a vendor at a local shop, and participate in art/craft fairs to make some extra side money.
  • I work holidays and overtime shifts as they come. (If I don’t happen to sign up, my coworkers always ask why I hadn’t, haha.)
  • I am working at my debt snowball to pay off the credit card debt with the highest interest rate first.
  • I have a spending plan that is updated each month.  I have a place for each dollar to go.  Extra income goes to either my debt payoff or my Emergency Fund.
  • All of my change goes into a jar.  Once the jar is full, the money is put towards debt.
  • Thankfully, my parents are helping to payoff my student loans. 
  • Lovie and I collect cans to turn in for cash.
  • When doing online shopping, I use cash-back sites, and my rewards credit card.

And a throw-down of my debt that is holding me down:

  • Credit card A – $6,500
  • Credit card B – $10,300
  • Credit card C – $3,100
  • M&D loan – $173
  • Student loan A – $7,400
  • Student loan B – $1,800

For a grand total of: $29,273

Wow, it’s tough to see that amount, but I know it is at least less than it was at the beginning of the year.  Thank goodness there isn’t a mortgage or a car payment tacked onto that at the moment.  I hadn’t planned to let it all fly out there, but hey – a little accountability, right?

What do you do to save money/pay down debt?

4 thoughts on “Saving money and paying down debt.

  1. I know it takes a lot to throw all that out for the world to see, but I want to say thank you! Reading your blog gave me the nudge I needed to get my notebook out again and give our budget a serious look again. I've had it hidden…….out of sight…….out of mind……right. I am a DR follower as well and enjoyed the Financial Peace class DH and I went to at church. Some of it doesn't apply to us but you can take all info and it will help us in the future. We have one last payment on a vehicle for October and that will help in paying off more debt and that ER FUND. Well it has come and gone many times and it gone again for now. Hoping to get that built up again.Didn't mean to go into all that, just wanted you to know you gave me encouragement and I wanted to say THANK YOU.

  2. Angela -Thank you so much for your comment! I am so happy that this post has inspired you to get back on track with your finances as well. I have always wondered if anyone read these little posts of mine. Lol. I guess I had always hope so. So let me tell you, you have inspired me to keep writing, sharing my journey, and all the changes that come with it!

  3. Pingback: A journey of 3 | Change is my only constant

  4. Pingback: 13 Questions I’m asking myself before the end of 2013 {link-up} | Change is my only constant

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