Is my family taking on too much?
Not sure. But we need to make it happen because I have 2 student loan payments coming due and we don’t need the additional payment (nor have the additional funds to do so). It’s time to apply Ramsey’s Gazelle intensity.
You just read about goal one.
6 weeks of sending $35 of our weekly cash allowance to PIF our Best Buy account. PIF Best Buy card = beat the 0% APR deadline and that CC payment is now the Student Loan’s 3.125% payment.
Goal Two: *NEW*
18 weeks of sending $185 of our net salary to PIF 3 CC accounts (PIF 3 CC accounts = beat the 0% APR deadline on one card, the other 2 CC payments is now the Student Loan’s 6.8% payment.)
$220 sent for 5 weeks
$185 send for 13 weeks
HD – $1000 – 0% APR deadline 01/2010 (+ we won’t have another payment)
FFCU – $1445 – $59 payment
Kohl’s – $900 – $37 payment
Equals $96 payment to go towards Student Loan 6.8%
See, now we will have that extra $89 payment needed.
How we plan on doing it:
I came across a wondeful and funny blog called, Coal Creek Farm. The wonderful Chicken Doctor and her husband challenged themselves not to eat out for 3 months. (Check out there other wonderful tips on the sidebar numbered 1 – 4)
So, I talked to DH about it and we decided that we can do this.
- No eat out for 5 months (means I have to pack lunches now – that’s gonna be a toughie)
- Plan a stealthy grocery list
- No AC use – gonna be tough in our hot oasis
- Make sure lights are off when not needed, etc..
- Nickel & Dime it – learn to say “no” and throw ads out immediately
- Mend the clothes and make them last – school supplies on the inexpensive side
- Sell unwanted “stuff” in the house – just listed 12 books on Half.com this weekend
- pick up OT – not sure if possible
- Have anyother great tips? – Could definitely use!
Its gonna be a tough goal especially with school starting soon and the holidays coming along. I am already thinking about Christmas – thinking about making small boxes of homemade truffles or a set of knitted kitchen dishclothes tied with a ribbon and an inexpensive knick knack. I still have $500 left of the summer fund for school clothes and Xmas – gonna have to make it stretch (far). I sure will be looking to Rachel for tips!
If you haven’t checked it out already – I started a new blog: My Crazy Thoughts. Although short in content, it will be my pad to talk about all other non-financial.