I have a plan. Once I get steady paychecks from the full-time job and the part-time job I will have a better handle on how much money I can devote to debt repayment every month. My plan is to use something like the envelope system for groceries, clothes, and gas. With gas it will be a little easier to manage the cash flow as my favorite gas station has gift cards that once activated you can only use for gas. I've done the gift card thing for grocery stores before but I don't always shop at the same store, depending on who has what on sale. My main store is Aldi's because pure and simple they are the cheapest in town, but they don't do gift cards.
Another part of my plan is to split any extra income (babysitting, ect.) between debt and savings (until savings reaches a certain amount then it will go 100% to debt repayment).
I need to decide how much I am going to keep in savings (a minimum of 2 months worth of expenses to start).
Ok, so this may not sound like much of a plan to many of you (if there is anyone reading at this point) but it's a start.
Monday, February 18, 2008
My plan
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1 comment:
I'm just getting started at using gift-cards as a budgeting tool. I shop at two different grocery stores, but both of them do cards--so I figured I'd split my grocery budget in half between the two of them and see how it pans out for the first
month.
I came over from GiveMeBackMy5Bucks...good luck with your journey--it's a steep hill, but worthwhile. I'm not up it myself just yet, but I'm climbing! :)
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