Think you can’t find ways to save money? Think again!

Save money

Trying to Budget is hard.

It takes more discipline than we thought we had, but little changes can make a big difference, and we are focusing 110% on paying down debt ASAP…have a look:

What we did

1. Credit cards have been paid off, resulting in freed up cash $300/mo
2. Winding down the Lending Club account has started, should add income of about $450/mo
3. Stopped contributing to emergency fund and misc saving accounts, resulting in freed up cash for debt payment: $650/mo
4. Downgraded AMEX Platinum to AMEX Green Card, saving $30/mo
5. Disposed of BlueGreen Timeshare, saving $70/mo
6. Cancelled Crossfit membership, saving $100/mo

None of these things were incredibly hard to do – frankly I think all of this could be done in a few hours, though we took a couple of days to identify the targets.

How the savings add up

In the end, this adds up to $1,600 a month in cash we weren’t missing anyway that can be immediately directed toward paying down debt!

I’m thinking this $1,600 goes on top of the $17,000 personal loan (PL1) with interest rate of 10.75%, which would pay that off in 9 months.

Next would be the $14,000 personal loan (PL2) with an interest rate of 7.5%.  Combining the $1,600 with the $450 freed up by paying off PL1 would pay that off 5 months after PL1 is paid off, or 14 months from now.  I’m assuming the balance on PL2 is around $2300 lower 11 months from now.

I’m also making repairs to sell the SFH we currently rent out, so proceeds from that sale could change everything above depending on how much we net there.

Here’s the bottom line

This is pretty aggressive but should be doable considering we were living without this money one way or the other anyhow.

If we can make these changes after living with no budget for years, you can too!  It’s actually become exciting to see how fast we can pay off this debt!!!


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