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Focusing on the Debt

June 25th, 2007 at 12:48 am

I read Suze Ormans's book the Young Fabulous and Broke. Really good and got some great advice from it. I reccommend it to anyone!

One thing she suggests is to focus on the debt then when it is all paid of, focus on the savings. So, this is my new plan:

Nothing will go into the $20 Challenge for a while. I will be putting any and all extra moeny onto the CC debt to get it gone once and for all.

Since I was so close to $100 in my EF, I just transfered in $3.75 to bring my total to $100. That's it for now. Will just have to hope there are no emergencies!!! Smile

Old $20 Challenge/EF total: $96.25
Added: $3.75
----------------------------------
New $20 Challenge/EF total: $100

Posted in | 2 Comments »

2 Responses to “Focusing on the Debt”

  1. tklahn Says:
    June 25th, 2007 at 01:25 am 1182734740
    1182734740

    I wholeheartedly agree with this philosophy: Focus on getting the debt gone, then work on the savings. That's why our debt balance has been going down steadily and our savings is only at ~$4. Smile
    Will be anxious to see how your debt payoff goes!

  2. Aleta Says:
    June 25th, 2007 at 01:30 am 1182735029
    1182735029

    I think that you are very wise. Anyway, you now have $100. at least in savings. That's great. I' think you're on the right track.

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