Making some adjustments to my debt attack amount
Well we’re only 10 days in to January and all of my financial signs are leading me to make some adjustments on my debt attack.
I may have to dial down the monthly attack amount that I had set up until I can build up enough of a reserve in my savings account where I feel comfortable moving money if one month gets tight for some reason.
In fact, this is just such a month.
With homeowners dues due and a big car insurance payment due, I don’t want to run the risk of over-drafting my account at the end of the month if I make that big whopping payment toward credit cards.
That said, I will try to “snowflake” this month. I’m going to only pay the minimum on the card I’m attacking, but if after I make those other major payments and at the end of the month I discover a little extra here or there, I’ll put that towards the credit card. That way at least I continue to chip away without giving them too much extra in finance charges.
Going forward I’m adjusting my attack amount until I have at least $1,000 in savings.
I may have to dial down the monthly attack amount that I had set up until I can build up enough of a reserve in my savings account where I feel comfortable moving money if one month gets tight for some reason.
In fact, this is just such a month.
With homeowners dues due and a big car insurance payment due, I don’t want to run the risk of over-drafting my account at the end of the month if I make that big whopping payment toward credit cards.
That said, I will try to “snowflake” this month. I’m going to only pay the minimum on the card I’m attacking, but if after I make those other major payments and at the end of the month I discover a little extra here or there, I’ll put that towards the credit card. That way at least I continue to chip away without giving them too much extra in finance charges.
Going forward I’m adjusting my attack amount until I have at least $1,000 in savings.
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