Daily Archives: March 22, 2008

Daily Accounting #2

Earned: $30 Spent: $47.38 Saved:$0
To the credit cards: $90

Today makes for a little more interesting accounting. First up, the earnings. I sold two boxes of books today at a local used bookstore for a total of $40. I sent $30 of that to my credit card as a snowflake and will put the other $10 in my ING account for my hubby-to-be’s flat screen TV savings. I’m selling off stuff around the house that we don’t use or need. For the hubby-to-be’s stuff, I get a small commission to go to my debt, and the rest goes toward a new TV. Once the weather warms up, we have a monster yard sale planned. We’re hoping his proceeds from that will flesh out the TV account.

A snowflake, you ask? I’ve Paid for this Twice Already has this great post on the concept: “Snowflaking — A Primer.” The idea is that you try to earn or save little amounts of money and send them to your credit card debt. Like snow, continual flakes of money soon mount up into a giant blizzard of cash that puts a serious dent in your debt. It’s already working for me! Last month, my first attempt at snowflaking, I sent an extra $177 to my debt. Today, along with the $30, I sent $60 to cover the charges I made on that card this month. I’ve got more flakes in the pipeline from selling things on Amazon and doing surveys (another great idea from PaidTwice). However, I’m waiting until that money actually hits my checking account to announce it.

As for the spending, I spent $2.15 at the post office to mail an Xbox game that I sold on Amazon. I’m tricking myself by paying cash for the postage so that I can send all the Amazon proceeds to the credit card. Poor self, I so have you fooled! Later in the day, I met several friends for lunch at a great restaurant next to the bookstore. It’s all happy and organic. For $15 including tip, I had a lovely grilled fish sandwich and fries with homemade catsup. I have to admit the catsup was a wee bit disappointing. I made a mental note not to get all fired up about making catsup this summer if that’s going to be the result. The final $30.23 was for gas. At the grocery store near my home, I get 10 cents off per gallon for using my Kroger card. I paid $2.97 a gallon. . .the lowest gas has been for me in several months!

My savings category is a little nebulous. Do I count the $1 I saved on gas with my Kroger card? Or the $6 I saved by not buying an Edith Wharton novel at the bookstore? I think that I should probably only count money that I budget but actually don’t spend. Since I didn’t budget for books and still put the normal $30 in my gas tank, those are not real savings. But that kind of accounting has certainly gotten me in trouble in the past! Any thoughts? Advice?

That’s all for today; tomorrow, I’ll start telling sharing all the juicy details about my long-term relationship with debt!


Debt Stories

As I mentioned in my first post, I’ve really been inspired by all the great blogs about money that women are writing these days. I always walk right by the Personal Finance section in a bookstore and rarely read any financial page in a newspaper. However, when someone puts herself out there with a compelling personal narrative, I’m hooked.

Now that I’ve started this blog, I feel like I should tell my debt story, but first I want to give you three stories that really inspired me. First, Banker Girl gave me hope with a student loan story that resonates with mine. She tells her story in a great series: “How to Create a Financial Disaster.”

Another blog that has helped me is Blogging away Debt. Tricia tells her story in the post “Where My Debt Came From.” Tricia and her husband have made serious progress on their debt. I can’t wait until I can post similar numbers!

Finally, I adore Antishay Ventenne. Her blog is inspiring, especially because she was able to turn things around at a relatively young age! In my early twenties, I was binging on books from Barnes and Noble and charging trips to Europe. I’m really impressed with how strong she is, but she still can have fun. Her story starts with “My Debt Story.”

Well dear reader, I hope you enjoy these as much as I did. I’ll be back with my own debt saga soon!