I screwed up. I forgot to budget for oil! This is the first house I've ever had to pay for heat in, and well, I forgot. So.. that will obviously impact my debt plan, but at least I know I'll be able to afford it. My plan is to budget a set amount for now through next winter, divide it by the number of paydays between now and then, and put that much away each payday. Fortunately, by using a program like Microsoft Money, I know how much I spent last year (I just run a report, it's so fancy and great), so I should be okay. A do-able plan, thank goodness.
As for my debt payment plan, after taking a long, hard look at my balances and interest rates last night, I decided not to stick to the Dave Ramsey plan. I'm still paying off the lowest balance next month, but after that I'm paying off a higher balance with the highest interest rate, mainly because the next lowest balance has a really low interest rate. I just can't justify it, especially since it's not like I don't have the motivation to stick to it. I have readers now- I can't slack off! I really think I'll be fine. But, I'm calling that card tomorrow to beg for a lower rate. I'll just start telling them I write about them on the netz and scare them into it.
Minor crisis averted.
3 comments:
I have a high credit card bill and transfered my debt to a zero percent interest card. While it is only for one year, when the year is almost up, I will transfer it to another zero percent.
Here is where I found it:
http://www.cardoffers.com/
Good luck, Jaim! Keep up the good work.
PS
I just opened an ING account too and am having a certain amount transfered from my checking every paycheck. Aren't you proud of me??
At least you discovered the budget flaw now and not just as it is getting cold. Also, I believe that the DR plan be adjusted to fit your needs. The plan is not a numbers correct plan, it is a motivational plan. If it is in your best interest to go with a larger debt, then go for it... BUT DON'T lose sight of the end of the tunnel and stop completely.
My oil company offers a budget plan where you can pay monthly to reduce the hefty bills usually accrued with oil. They also reduce the rate if you get put on auto delivery. GL!
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