Tag: debt

Dollar Down Debt

With the holidays coming up, accruing some debt is not a surprise. So what do you do when it starts to spiral out of control? Pay it down, a dollar at a time!

Okay, so I am pretty sure you’re looking at this and saying ‘yeah, no duh genius.’

So let me explain… What I mean by dollar down debt is that you take your monthly expenses, find ways to cut a dollar here or there and use that to add to your monthly payment. An example, you ask? Why of course! So let’s say you are buying lunch today at work and you can pick between the large combo for $10 or the medium for $8. Now you might be super hungry but what does the large give you that the medium doesn’t? Usually, it is just a larger drink or larger side by a handful so are you really getting more for that money? So you opt for the medium and use that $2 to put towards that debt payment on top of the minimum.

Now, instead of just paying $50 for your minimum payment which will accrue an exorbitant amount of interest, you’re paying an additional $2. That doesn’t seem like a lot but if you can stash aside an additional $50 from analyzing your expenses and cutting back on some of those frivolous upgrades then you can double or triple your monthly repayment.

So you are literally knocking down your debt, a dollar at a time!

How do you save these dollars and not apply them to other expenses? Put them aside…literally. You can have a secondary account that you transfer the funds to if you aren’t using cash OR in the event that you are using cash, put them in a “debt jar”! Or you can always set up apps that help manage your funds and track your spending habits to help you squirrel away some money to help that debt dwindle down faster!

So inquiring minds want to know… What are you doing to pay down any debt? Do you have CC that you have a revolving balance on? Do you follow Dave Ramsey’s snowball or avalanche methods?

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Frugal Tips – No Spend Week

Being an adult is hard! The worst part are the bills that come every month and the cost of living that continues to increase despite salaries not being able to keep up.

So in order to combat some of the mundane adulting tasks, the I have decided to start installing some “frugal tips” into day-to-day living. Some tips have helped me save money. Some tips have helped me knock down some debt. Some tips have helped me find some new and exciting adventures. And since they have been fairly beneficial, I wanted to share some of them!


This week’s challenge/tip: No Spend Week


While the title of this week’s tip, and challenge, is pretty obvious, the purpose behind it is to not spend any extra money! This may have been something that has been written about before, normally called “no spend months,” but there were always exceptions – food being one of them.

While that is difficult, I feel that food shopping is one of my vices – I can go to 4 stores on a given day and shop way beyond my list. Hubby and I do eat it all, but that also feeds into the cycle of over-indulgence and our healthy journey.
So, this upcoming week, we will not allow any food shopping as well as no erroneous spending except for health/medications and bills. Anything we normally would have purchased is put “on ice” and can be revisited the following week. That also means that we have to only eat items we already have – think of it as a food clean-up too!
We cannot spend money on anything from Amazon or other retailers, and if the appointment for any personal indulgent item (like my nail appointment) can be moved, it should be!

The challenge starts today: June 17th and ends on Sunday, June 23rd.

The rule: if you were going to spend money on any “fluff”, it has to be deposited into the savings account. That way, at the end of the week, we will calculate how much we saved. That means that if I was going to buy lunch on Tuesday, I would transfer that $8.00 (or whatever the price) to savings instead.

Who is with me!?