Thank you for visiting my blog. This journey I am on started in January 2017 with a prayer and a plan to pay off almost $62,000 of debt in 2.5 years. I anticipate a winding road ahead and I welcome it with open arms. Drastic measures will be taken to ensure that I meet my goal. I plan to forego vacations and impulse purchases, so that I can be more strategic in paying off my debt. I have included below a few methods I will plan to incorporate into this initial year-long journey.
- No spending on apparel – I shop on impulse often and I am curbing this by not shopping at all
- Create a biweekly budget – Assess my budget as frequently as possible
- Generate more income – I will find another part-time job that offers more hours and a higher pay
- Implement snowball method – pay off small debts first
- Cut living expenses – I live alone and pay $1,700 a month in rent. As much I enjoy living alone it is no longer in my debt-free budget to do so. I will find a roommate to save at least $500/mo.
- Make biweekly payments – Regardless of the bill, I am splitting my payments
I will assess my progress on June 30, 2017.