Debt
Lately, Jeff and I have been digging ourselves out of some debt - some of it taken on intentionally (the house, the cars), some unintentionally (Kaylee's vet bills). It's hard to do without a plan, though, so I've found some good online tools to help. Since I figured that there are probably others in the same boat, I've decided to share my findings.
Snowball debt calculator: This tool calculates the snowball method of paying off your debts. This method works for some people and doesn't for others. I find it works well for me. I think it helps that my highest interest debt also is a low amount, so I get the satisfaction of paying off a loan quite quickly. Plus, I've only got a year left on my 0% car loan, so that will be paid off quickly, too, freeing up a nice chunk of change to pay off other debts.
Buddi budget software: This free software has really opened my eyes and made me pay very close attention to what I'm spending. I've just started using it, but it's at least making me think about where all my money goes (do I really need more fabric right now? I can probably live with using up my gigantic stash. :). It's pretty easy to use, once you get the hang of it (use the help on the website).
I'm also going to be reducing my spending to free up some more money for savings. I have an amount automatically deducted from my paycheck every week and put into my savings, but I'd like to up that amount if I can - or, better yet, put it in my retirement account.
I'm thinking of places where I can reduce spending now. Recreational shopping, even at the thrift store, is a good place to start. So is the craft store - just stay out! :) Our food costs go down dramatically in the summer due to our garden, so that will be a help. We're also planning on doing some more weatherproofing of the house so we can hopefully reduce out heating and cooling bills a bit more.
How else can I lower costs? Any ideas? We get books and DVDs from the library. We rarely eat out. We rarely go to entertainment events that cost money. We ride the bus instead of driving when we can. (Getting rid of digital cable is a no-go. We'd spend more money without our DVR. :)
Labels: money
5 Comments:
You are on the right track. I can't think of anything you aren't doing right.
With me, I don't buy food from out, not even coffee on work days. I use the library all the time. I should stop buying yarn.
The one thing I do is I won't run any errand with the car unless I have another errand the same direction-everything has to be in a loop or I put it off.
Oh yes, we only use those low energy lightbulbs now, which saves money and they don't head up the house in the summer.
I also switched from a calling plan that was unlimited, which was $60 a month and honestly, I didn't make anywhere near $60 a month in calls. The difference was $26 a month.
We're going to switch to a lower cell phone plan, too, as soon as my husband tells me what he changed the password to. :)
We're also big on the CFLs, too. Not only do they save energy and money in and of themselves, but the don't put out a much heat so you don't have to run the AC as high in the summer. We used to have to unscrew at least one lightbulb in our overhead fixture in our living room in the summer before we switched!
Will you please come organize my life as well???
I'm seriously thinking about getting a Vespa to do my running about in town to save gas and car costs. Plus I can use it to zip over to the ferry building which is 5 miles away. (to get there by bus takes 2 hours!)
My greatest savings came when I went veggie and I just gave up my beloved Diet Coke
Stop copying, DKM! :)
I've been considering a Vespa, too. And I also recently gave up the brown juice of the gods. Sigh.
Would you please stay out of my head? I need my ideas without you siphoning them off. :)
LOL
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