Saturday, September 26, 2009

97 Days In 2009- Getting Out of Debt Challenge

97 Days Left in 2009

Activity #97

This activity will take you about 30 minutes to complete.

Setup your automatic bill pay to pay between $1 to $10 a day towards your credit card debt or into a saving account. Make the duration be from 9/26/2009 to 9/26/2010.

DO NOT STOP paying your monthly balances. This is intended to be in addition to the money you are already paying towards your monthly bills.

For example:
If you save $10 X 365 days you will have $3650 in savings in 1 year. This can be whatever amount you can afford at this time. If it is only a penny a day that is fine because it just gets you into the habit of automatically saving or paying down your debt without having to think about it.

This technique helped me so much because I didn’t have to think about it because it was automatic. I didn’t even miss that money in the end.

Come back here and comment the automatic amount that you have picked ($1, $2, $3, etc). You can always comment anonymously.

Best wishes,

Janie

2 comments:

  1. That's a wonderful idea to use automatic bill pay to knock down the credit card balance, Good Work!

    ReplyDelete
  2. John,

    This totally worked for me. I didn't even miss that extra money that was going towards my bills.

    Thanks for commenting and your participation.

    ReplyDelete

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