Financial Snowballing

Starting in 2013 as a new years resolution and as a personal choice. I’m going to try and become debt free or extremely reduced with the amount of debt I owe. I’m not ashamed to admit since getting credit cards I’ve fallen into the trap of buying on them all the time and instead of saving up just adding onto the card and going to the minimum payment

Take my words for it, they make life harder to manage and it’s not worth it so address the problems. Not add to them. Currently I’m paying out nearly £1500-1600 per month which is a bit of a bugger on my wages

I’ve got my own snowball calculator built over the small little changes I can do to my lifestyle and savings which will drastically reduce my bills. Sometimes you attack the high APR items, but personally I’m choosing to attack the small balance items first, because I can compound them into larger amounts. I’ve selected this because my funds are usually limited to the point where I can’t save much up a month, and quite frankly small accomplishments make great goals that egg on your spirits for future achievements.

The goals I have are achievable aswell and cost me nothing because the money I get is free (i.e music reviews) and simply overpaying my lowest credit card £10 per month {£200} it is paid off 3 months earlier. I’m going to track this to show my progress along with my health goals.

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