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Home > Need to stop throwing money at debt!

Need to stop throwing money at debt!

December 30th, 2009 at 03:29 pm

Ok, so I have this issue with keeping money in savings. Whenever I get a few extra bucks I'm always throwing it at one debt or another. Just yesterday I threw another $500 at T's student loan, so it's down to 3300 owed. My savings is always around 1500. I never allow myself to get any further with savings because I always have this need to pay an oustanding loan off. Luckily I have a very stable job (government) and my husband's is a fairly stable job as well, but every once and a while I wish I would make it easier on myself and build up the EF. I know, I know, stop talking and just do it!

Posted in Uncategorized | 4 Comments »

4 Responses to “Need to stop throwing money at debt!”

  1. Suzanne Says:
    December 30th, 2009 at 05:16 pm 1262193362
    1262193362

    If this is your worst habit you are doing ok!

  2. DeniseNTexas Says:
    December 30th, 2009 at 05:41 pm 1262194874
    1262194874

    I know of habits that are much worse so don't beat yourself up too much. But yeah, stop talking and just do it!! Wink

  3. crazyliblady Says:
    December 30th, 2009 at 05:49 pm 1262195363
    1262195363

    Why not having some regular amount come out of each paycheck going directly to your savings, but also pay whatever you can on your debts? That way, you are beefing up your savings, always important, but especially so in this economy, and you are also paying off debt. Congratulations, though! I applaud anyone who can actually send $500 towards the payoff of a debt and not even blink.

  4. tightwad kitty Says:
    December 30th, 2009 at 08:35 pm 1262205308
    1262205308

    If you feel that you need more money in EF then go for 25% EF & 75% debt until you have it to where you feel comfortable with say between $3000 - 5000, then go back to 100% debt. You can do it that I know.

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