Tuesday, October 28, 2008

Time to tighten the purse strings...

I have decided that I am going to really pursue getting the money together to pay my parents back ASAP. Right now I have $14731 to put toward paying off this debt and I need $20,000. I would really like to have it all come April and be done with this loan. I am going to look at EVERY possible way to earn money (legally!) over the next 6 months and hopefully I will have it all together and will be able write a check for $20,000 and be debt free with the exception of my mortgage! Yeah!

A few things I have done to make this easier to achieve are lowing my phone/internet/cable bill by cutting premium services. I am trying to make due with the food I currently have, dining out less, eating less in general, finding free options for fun, no clothes shopping, and decreasing expenditures any way possible. I am going to revisit the lifestyle I had while I was paying off my original debt. I'm going to print out my list of things I did back then as reminders of how to live this way again. Thankfully this time it will only be for 6 months. I'm fairly optimistic that I will be able to get this all together and pay off the loan. After that, I will loosen the purse stings and have a little fun.

I would appreciate any helpful hints that any of you have to offer on how to earn the extra money or how to cut costs. Thanks! I'll keep you all posted on my progess, and if along the way, I find some good money savings tips, I will certainly pass them along as well. :)


Sammy said...

I think you have some great ideas so far for living more frugally. How about reducing gas expenses by either driving around less/walking more or possibly joining a lift club?

Fabulously Broke said...

My biggest expense so far is a car (that I`m not even really driving)... But walking a lot, taking the subway, cooking at home, really cutting out clothes and accessories was what did it to get me to pay down $40k in debt on a $65k salary...

indebt said...

I actually carry your list with me. I printed it off and have in a binder where I try to keep track of things.

You do have great ideas and I use them to remind myself and help myself along this way and I totally have you to thank for ALL my progress!

Some things I have added to what your list already has is:
drive less
pick up change off the street
shop at discount stores
consider buying used
ask advice
drive slower
and if it's a purchase over $20 I ask myself "do I really need this" ( I should do that with everything maybe)

I wish I had more to offer.

Thanks for all your help over the last few months!

Good Luck!

Debt Settlement said...

Be very energy conscience and replace all your light bulbs with energy-efficient ones. That helps a lot. Don't leave your TV on, it takes a lot of energy.