Comments on: Ways I Save Money: Buy at the End of the Season http://www.bloggingawaydebt.com/2006/09/ways-i-save-money-buy-at-the-end-of-the-season/ Our Journey to a Debt-Free Life Sun, 21 Mar 2010 12:23:03 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Dan and Marlis Williams http://www.bloggingawaydebt.com/2006/09/ways-i-save-money-buy-at-the-end-of-the-season/comment-page-1/#comment-513796 Dan and Marlis Williams Sun, 07 Sep 2008 12:12:55 +0000 http://www.bloggingawaydebt.com/2006/09/ways-i-save-money-buy-at-the-end-of-the-season/#comment-513796 We have eliminated over $30K in debt in 18 months by following the plan we wrote about in our book called "Does God Prefer Paper or Plastic?" 1.) Make a list of all your debt (payments and balance), then make a list of all your expenses with the average dollar amount. 2.) Set up FOUR bank accounts. DEBT account is used to pay debts only., EXPENSE Account is used to pay all expenses only. EMERGENCY account is used for emergencies only! SAVINGS account is for things we know are coming but usually cost more than we have on hand, such as holidays, birthdays, vacations, etc. 3.) You will have divide each paycheck into your accounts according to Debt payments, Expense amounts, Savings and Emergency fund. 3.) Pay the minimum on all of your accounts and then build up $1000 in your emergency fund. Now pay the minimum on everything and start paying off the smallest debt you have. Then start paying off the next smallest debt and so on. You can do it, but you must STOP using credit cards! We have eliminated over $30K in debt in 18 months by following the plan we wrote about in our book called “Does God Prefer Paper or Plastic?”

1.) Make a list of all your debt (payments and balance), then make a list of all your expenses with the average dollar amount.
2.) Set up FOUR bank accounts. DEBT account is used to pay debts only., EXPENSE Account is used to pay all expenses only. EMERGENCY account is used for emergencies only! SAVINGS account is for things we know are coming but usually cost more than we have on hand, such as holidays, birthdays, vacations, etc.
3.) You will have divide each paycheck into your accounts according to Debt payments, Expense amounts, Savings and Emergency fund.
3.) Pay the minimum on all of your accounts and then build up $1000 in your emergency fund. Now pay the minimum on everything and start paying off the smallest debt you have. Then start paying off the next smallest debt and so on. You can do it, but you must STOP using credit cards!

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