I’ve budgeted $800 a month for my debt snowball this year. In January, I was able to put more than $1400 toward paying off those debts. I did not experience any sense of hardship, even though I was quite careful about spending.
I didn’t do the Debt Snowball properly, though. When each paycheck arrived, I put some money toward debt payoff instead of toward shopping. But I didn’t start with the smallest debt. I think I put more toward my health care debt, which I must pay off within 12 months.
I like the Debt Snowball idea, though. I have a credit card with a balance of $365 and a minimum payment of $25. I’ll pay that off this month and add its $25 to the next smallest debt. But I’ll also do my best to pay off that cataract surgery quickly.
Where did I economize to free up that extra money? Books and crafts supplies, obviously, because that’s where I do most of my spending. Entertainment, in other words. I’ve spent almost nothing in those areas this year. Also groceries, though I can cut back more there if I try. More on that in the future.
For February, I may age my money, as YNAB puts it. Having more in the current account might be relaxing as I continue the process. I am certainly feeling positive about my efforts.
But the Seamwork Design Your Wardrobe Spring Collection begins on Monday. My Pantone spring palette fashion colors are Living Coral and Princess Blue.
I found a couple of fabrics in this color in my stash. I also have enough yarn for a summer top.
I have enough yarn in this color for a cardigan and perhaps for a top as well — a twin set.
I could add some fabrics and make a proper SWAP.
Note how I announce these colors for my collection as though it were a fact? I have plenty of fabric in last year’s teal and rose shades. I don’t travel in circles in which people will look down on my for sticking with blue green.
As far as I know.
This is how I end up with a couple hundred dollars’ worth of fabric stash rather than a couple hundred more toward my debt. Or not.