Last year I had a Debt Snowflake Challenge and “found” an additional $7,499.25 to apply to our debts.
This year my husband and I have the gazelle intense goal of paying off my student loan by August 31, 2013. In the past four weeks of the Debt Snowflake Challenge, we’ve “found” $374.43 to put on the student loan.
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.
I redeemed some of our credit card reward points for cash.
Redeemed credit card rewards = $100.00
This week we were able to snowflake $100 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 are a bit under our target goal. Over five weeks, we are now averaging $94.88 a week, or $474.43 for the challenge so far.
We still have more “stuff” to sell downstairs; I need to get busy on that because our budget continues to be unbearably tight. The only way I’ll be able to continue to find money to put on the student loan is by selling stuff. The money simply can’t come out of my extra jobs because right now we need that money for several upcoming expenses.
Now it’s your turn. Link up your progress. Let’s inspire each other!
Michael @ The Student Loan Sherpa says
What money counts as “found”? Is it just anything that doesn’t come from a regular pay check or is it money that you saved elsewhere (such as spending $50 less on utilities)??
For this challenge so far, the “found” money is just from our “stuff” that we’ve sold. Last year it included extra money we made as well as stuff that we sold.
Jon @ MoneySmartGuides says
I have a bunch of “stuff” I need to sell as well. The problem is that I just keep putting it off because I have so many other things to do. I plan to make it a point this weekend to budget some time to listing everything onine.
This week I snowflaked $29.88 from my extra job.
Way to go!