Re: More financial advice sought
Another thing that helped me and Mrs Ltlabner when we were paying off the $20,000 of credit card debt we (mostly me) had amassed was to start thinking of everything in terms of "what will this cost me per month or year".
If it's a small repeating cost like going out to lunch, figure out what you'd spend per month doing that. IOW, if you eat out for $7 a day it sounds pretty cheap. If you think of it as $140 per month not so much. $1680 per year starts to sound crazy when you've got thousands of dollars in debt.
If you have a monthly charge like the aformentioned cell phone, think about what it costs you in a year. $35 per month doesn't seem like much. $420 per year, especially when you also have a landline phone, is a fair chunk of change.
Another thing that helped when we were paying off our debt was to make it a game. Serriously. Begin thinking of everything as a way to pay off the debt. Nearly everything we do in life either (1) costs us something or (2) brings in income. Start finding ways to minimize the former and maxamize the latter.
Lastly, write down everything you spend on paper. Whether it be a notepad or a fancy spreadsheet, record all of your expendatures and income. Track your spending by month. You'd be suprised where you money is going if you just tracked it and it makes it easier to identify areas to cut.
a super volcano of ridonkulous suckitude.
I simply don't have access to a "cares about RBI" place in my psyche. There is a "mildly curious about OBI%" alcove just before the acid filled lake guarded by robot snipers with lasers which leads to the "cares about RBI" antechamber though. - Nate
Last edited by Ltlabner; 07-21-2008 at 10:05 AM.