Bringing the Debt Snowball to a Halt
October 29, 2007 – 10:00 amWelcome to Working For Financial Freedom. If this is your first visit please read about this blog. You can keep updated by subscribing by email or to my RSS feed. Thanks for visiting!
We’ve halted the snowball. We will continue to pay our regular car payments, but any extra money during the month of November and part of December will go towards the following:
- Fixing the Ranger so that it runs good, passes inspection & doesn’t leak oil (hubby will fix this himself)
- Retaining wall in backyard (we will do ourselves)
- Plane tickets, rental car, gas & food for house-hunting/Christmas trip to California
- Christmas (keeping it simple this year)
- Small repair of fender on Mustang (need to do before we sell it)
I think that’s it. It’s hard to switch from dumping every extra penny on our debt to actually spending money. But many of these things need to get done in order to sell the Mustang, sell the house, and move to California. So it’s not like we are just going to spend the money on a new flat-screen TV 
I do make a little extra money on the side from surveys, product testing, grocery rebates and whatnot. So I will apply that money to the debt, but that is usually only $100+ a month.
A new “Reduce a Bill” challenge is in the works for November. I’m trying to mix it up a bit, but I don’t want to make it harder. So keep your eyes open for that.
4 Responses to “Bringing the Debt Snowball to a Halt”
I too have been thinking of this! lol. We will be bringing our debt snowball to a halt for the month of Dec. We will have another debt down by then and will pay the minimum on our other debts, I just wasn’t ready to do that for the month of November but in saying that we are not going away for Christmas :).
You have a really great plan going :).
I will be doing the no spend days again for the month of November, thanks so much for keeping the reduce a bill challenge going :).
By Heather on Oct 29, 2007
Way to go, one more debt gone and your debt load will feel so much lighter
Glad that you are going to join the reduce a bill challenge again next month. I can’t do the line drying laundry thing again next month though… I’ll have to pick something else.
By Momof3 on Oct 29, 2007
While its not technically a snowball, it still sounds like you’re moving in the right direction and lightening up your load. That’s got to feel great!
By Mary on Oct 30, 2007
We had thought of halting our debt snowball also. But, life choose happened and that changed everything.
By JW Thornhill on Oct 31, 2007