So I've given much thought to feedback about my cash flow. I've decided to make my lunches for the next week. I bought the "subway meat" mix which is basically the ends of all the deli meat. It's 88 cents per 100 grams which is about a third of the price of all the other deli meats. With a loaf of sliced french bread for a buck 99 I made up 5 lunches and put them in the freezer. I used less than half a loaf. I've packed up some fresh lettuce and cukes and plums and I'm all set. Less than $5 for the whole week. Stay away from the vending machine... I get free coffee/tea/hot chocolate/fake chicken soup. I should be able to save a fortune this week!
Archive for July, 2012
I'm reading an interesting book about debt payoff called $10 per day. After all these blogs I am so happy to have two good ideas after reading just a few chapters. The first one is to contact the mortgage provider and ask for a secure line of credit. I asked for $12K to get my rate down on my credit card. They offered me $120K so I could have them pay the fees for a secured loan. I don't want that much! That's just crazy. Geez, they just throw that money around.
You would think that now that I have $100 extra per pay to go toward my remaining debt now that I've paid off Visa that nothing would change with my cash flow. But I'm short this week and was short last week too. I don't mean I can't make my payments, I mean that I can't find the cash to make the extra payments to power pay down my remaining debt. There have been two changes this month that might explain part of it. First, I've started going out every week with a dear old friend, and it's about $32 every other week. And second, now that work is a little more balanced I have time to take a lunch break and have been lazy and buying fairly cheap lunches a couple days a week. Well that adds up. But in the mean time I've looked at my old journals from paying off the last credit card and I see that I was also adding anything I didn't spend (no more parking cost for example) and adding that to pay down the outstanding debt. So where is this cash going? I'm going to do some research in my payment history and see what I can find. Meantime, I have reduced the debt another $200 in the last several weeks. Any suggestions for how I am straying?
Looks like paying off this line of credit will be a little trickier than I thought. That darned interest payment of $87 per month is really frustrating. Last week I was able to snowflake about $43. I did this by pinecone surveys (my first cheque arrived this week!), taste testing, some mileage expenses, and using my coin jar contents. I will be paying $100 per week against this debt but the net effect will be paying off only $1500, not the $5000 I wanted to achieve by the end of the year. Any suggestions for coming up with the extra $3500 are welcome. Perhaps you have an idea that might make this dream come true.
I'm happy that I can tackle my line of credit now that the Visa is paid off. It's a hefty one at $12,435.00. My goal is to kick $5,000 to the curb by the end of 2012 and have it fully paid off in 2013. It's my one and only credit card debt. So far I've paid off $347 but the monthly interest is more than $87 per month even at 8.4%! One of the great rewards of paying down debt is seeing that monthly interest amount drop like a stone. I can do it!