Project: Payoff

 

 

 Wore this yesterday when it was beautiful outside for a few hours. You wouldn't tell by how it looks out there today, typical grey-cast sky. I usually forget to post pictures with my purses or jackets, well here is a bag that I just thirfted for $2.00. It's pretty big, and so far I like it. I found out that I need to go jacket shopping yesterday when the only ones I have are my winter coat, or a super thin jacket. I stole Kyle's hoodie when we went out lol.

Onto today's project :) Yesterday I finally got around to balancing my checkbook after my tax return. I have some credit card debt, and school loan debt and I am always trying to figure out which is the best way to pay everything off. I typically would divide up my money and just pay a bigger amount on the bill with the highest interest rate. When I got my return this year, I realized that I could play off a good chunk of my debt. I pondered the best option and then I came to a conclusion: Instead of paying off the highest interest first, pay off the bill with the lowest dollar amount first, then apply the money that I would normally use on that bill to the next one. For instance: 

Bill:                       credit card                 school loan 

Owe:                     $300.00                      $1000.00

monthly payment:  $50.00                        $100.00

Instead of paying $50.00 on the credit card, pay $100.00 then when it is paid off, put $150.00 toward the loan. It will then get paid off quicker because you will have more money paying on the debt. I am really excited about this because I figured out that the way that I had been paying on my debt was going to take me about 2.5 years to pay it all off. The way that I am paying it now, it should take about 14months. I guess that is really true if I use the money from the paid-off bill and apply that exact amount to the next bill.  

Anyways, I am sorry if this post was a little boring, but I figured that someone else might want to take a stab at it. 

Details:

Shirt & Shorts: F21

Scarf: Dollar General 

Tights: CVS

Socks: Payless

Purse: Thrifted via Regeneration

Boots: Sears Essentials.

To-do list:

Finish close reading paper

Finish homework

Finish reading SLUT!

Make appt for Ortho & academic adviser

Create Flicker account

Balance checkbook

Write Jessica
Go to the Grocery store

(=^.^=)