Last year I had a Debt Snowflake Challenge and “found” an additional $7,499.25 to apply to our debts.
The last time I had a Debt Snowflake Challenge post was back in August, 2012. However, several of you mentioned missing this post, and now that my husband and I have the gazelle intense goal of paying off my student loan by August 31, 2013, I decided it was a good time to bring back the Debt Snowflake Challenge.
Here’s how it works:
We inspire each other by sharing how we “found” extra money to put on our debts. If you have a blog and wrote a post about it, please link up. If you don’t have a blog, just leave a comment stating what you did this week to find extra money to put on your debt.
My mom sent me a sweet Mother’s Day card and $20 for Mother’s Day. She suggested that I use it to go out to eat, but really, I just want to be free of this debt burden, so we snowflaked the money. Getting out from this student loan will be infinitely more relaxing than going out to eat. I told her this, and while she didn’t quite agree, she knows the burden the debt is.
Mother’s Day gift = $20
I shared the stuff I was decluttering and donating and one astute reader (thanks, Melinda!) suggested I sell the rubber pants on eBay. I listed those and some old cloth diapers I had and my son’s old Thomas the Train sets. I made $71 after shipping and eBay fees. Thank you for the suggestion!
eBay Sales = $71
We collect all of our loose change in a jar, so I decided this was the week to cash it in. (I last cashed it in in January or February when I was holding my build the emergency fund challenge). There was $41.18 in change.
Cashing In Loose Change = $41.18
This week we were able to snowflake $132.18 on the student loan. I figured out that we need to pay an extra $108 a week to pay off the student loan by August 31st, so we exceeded our target goal. Over two weeks, we are now averaging $111.59 a week.
Now it’s your turn. Link up your progress. Let’s inspire each other!