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pay down debt

Debt Snowball for Dummies

Dave Ramsey is the “Debt Snowball” master and inventor. For many, it makes complete sense, and for others-well, they argue that he has it backwards. All I can say is this… it works. Clearly you can find all sorts of info at DaveRamsey.com but I can break it down for ya 🙂

  1. list your debts from smallest debt to largest debt (ignore the percentage rates)
  2. Tackle the small ones first. Start smallest and work your way up
  3. Do whatever you possibly can to pay down the small ones FAST. That’s the purpose of the Dave Ramsey way… you get those “small victories” along the way since you are tackling the small debts first.

So basically, that’s the Debt Snowball. Pay off small debts first and work your way to the big ones. Doing in this way does give you some momentum. There is something super fun about seeing that small $342 credit card paid off QUICK! And makes you WANT to continue working diligently. If you started with the $10,000 debt, it would take a while to see progress and the fear is that you would eventually give up.

cut up

So… to pay off the small ones…

  1. If you don’t need it, sell it.
  2. Clean out your closets and sell what you can!
  3. Look in your garage– never know what you might find that you can sell
  4. Sell items on ebay if they are bigger and nicer
  5. Follow the other steps (like cutting down on bills and groceries) and use the difference to pay off your debt
  6. Get a part-time job, offer to rake yards, offer to babysit…
  7. And cut up your CARDS!!!!!!!

WHATEVER IT TAKES! Get those small debts paid off! You CAN do it! I believe in you!!

Message me with any questions!

For Now,

Roxy

Void where prohibited

As I have said before, when I was BIG into reading financial savings blogs, frugality books/blogs, and so on, I would get so frustrated when I would click on one that looked so inspirational only to find out that NONE of it applied to me.

Some would suggest “get rid of your cable all together”– ok, that’s not gonna happen {for me}

Others would say “How to spend less than $25 dollars a week on groceries”- ok, we are NOT gonna eat THAT….

I say that to say– these may not apply to you. BUT, they may apply to some ONE and that’s the purpose.

On your journey towards financial freedom, cutting spending, saving more, or whatever your goal is, you HAVE to start somewhere. {You already know this} Here are some things WE have done that worked for US. Maybe one will inspire you! 🙂

  1. I chatted online with DISH. I told them I was considering leaving them unless they could lower my bill. Guess what? They lowered my bill for $30 bucks for 6 months! As Charlie Sheen would say “WINNING”. After that 6 months, I got BACK on chat and got 3 more months PLUS free HBO for a month. Worth a shot!
  2. Start clipping coupons! I did this for one year and my stock pile lasted us 3 years. Not lying. I never bought detergent, toothpaste or deo for 3 WHOLE YEARS! It was so nice. I’m at a point where I don’t have time for that… school and family keeps me too busy for that BUT it helped us out when we needed it most!
  3. Know what items sell for! I took a spiral notebook and half a day and went to Kroger, Walmart, and Harps and wrote down (before I left the house) the items that I buy EVERY. SINGLE. WEEK. I wanted to know if there truly was a big difference–not counting on the coupons or weekly specials, just plain and simple what items cost. This helped me with my grocery budget!
  4. I wasn’t afraid to ask. {This can be embarrassing if you don’t do it right} I called restaurants before we went to them and asked about specials. I looked online and social media to see if I could find coupons or freebies. I would ask the butcher at Kroger if he had any meat he was about to mark down. {I can’t tell you how many times this saved me TONS}. I called Entergy and asked if we were better off to do levelized billing or NOT. Bottom line– I wasn’t afraid to ask for a discount, for what days they have special pricing, for specials. I don’t have an amount written down but I assure you this saved us tons of money!
  5. I decided what I could do without. I should blog about this separately, but I have TERRIBLE feet. I mean the worst. Picture the worst–now double it! That’s my feet. In the summer I LOVE to get my toes done up pretty. But it gets expensive. I decided I could buy the tools and do it for myself in between pedicures. I don’t HAVE to have a pedicure every 3 weeks… I mean I WANT to, but I can’t if my goal is to be financially free of debt.
  6. Plan ahead. You know every evening your family wants food… and how every December a major holiday rolls around? Plan ahead. Plan your meals. Shop in your own pantry. Buy gift cards throughout the year so that when Christmas rolls around you either have gifts to give OR you have gift cards to go buy them with. Mothers day is EVERY single May. That’s not gonna change. Start thinking about that in January. PLAN. UGH. HEAD. {See what I did there?}
  7. Probably should have been #1 on the list, BUT… make a budget. I will go into MUCH MORE DETAIL tomorrow {I’ve been in class all night and my brain is fried} but you HAVE to do this or you will never create any traction. void

 

There are SO many more I would love to share with you! And I can’t WAIT to share with you. For now, this is a good start. 🙂 I hope…

Feel free to email me with questions. roxyrambles02@gmail.com

For now,

Roxy

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