Moderator: Priests of Syrinx
You hit the nail on the head.awip2062 wrote:Is it any wonder the people of this nation are so in debt? Tricks everywhere coupled with advertising that makes us think we need it all.
Not a day goes buy where I don't think about how thankful I am that my mortgage is my one and only debt.All around that dull grey world
Of ideology
People storm the marketplace
And buy up fantasy
The counter revolution
At the counter of a store
People buy the things they want
And borrow for a little more
3) Put 3-6 months of expenses into savings so that if something happens to your job you can live while you find a job you want rather than just jumping at the next thing you find or if you can't work for whatever reason you don't lose your home.Debt Snowball Plan
The principle is to stop everything except minimum payments and focus on one thing at a time. Otherwise, nothing gets accomplished because all your effort is diluted.
First accumulate $1,000 cash as an emergency fund. Then begin intensely getting rid of all debt (except the house) using my debt snowball plan. List your debts in order with the smallest payoff or balance first. Do not be concerned with interest rates or terms unless two debts have similar payoffs, then list the higher interest rate debt first. Paying the little debts off first gives you quick feedback, and you are more likely to stay with the plan.
Build Momentum
Redo this each time you pay off a debt, so you can see how close you are getting to freedom. Keep the old papers to wallpaper the bathroom in your new debt-free house. The ?New Payment? is found by adding all the payments on the debts listed above that item to the payment you are working on, so you have compounding payments which will get you out of debt very quickly.
?Payments Remaining? is the number of payments remaining when you get down the snowball to that item. ?Cumulative Payments? is the total payments needed, including the snowball, to pay off that item. In other words, this is your running total for ?Payments Remaining.?
Debt Free!
You attack the smallest debt first, still maintaining minimum payments on everything else. Do what is necessary to focus your attention. Keep stepping up to the next larger bill.
he was born with NO NERVE ENDINGS! hahahaWalkinghairball wrote:I forgot to tell you all 'bout this one.
I saw a dude driving his convertable Miata AGAIN this morning on my way to work...............................it's 19 degrees this morning!!!!!!
Twice this week he did this. I have no idea who it is, but talk about a real numb nuts.
