Debt Payment Plan: So far, so good…

Debt Payment Plan: So far, so good…

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SmurfJust one week into the new debt reduction plan and things are going just fine.

Actually, it’s been a pretty uneventful week on the financial front — ignoring the markets, of course.

I’ve sent payment out for the three smaller debts already, tomorrow’s paycheck will put a dent in the larger debt, and by the end of the week, according to the debt snowball payment schedule, I’ll be done for the month of November.

That probably means the $2000 per month number was too conservative on my debt reduction plan. Whatever — this way I’ll still have the cash cushion I’ve be *so* wanting for the last few months.

Attacking the beast from both sides, expenses are also way down this month.

November will be the first month where I’ll notice the lack of a cell phone bill. The jump to Virgin Mobile was a great money saving move. Instead of a $40 bill to Verizon each month, I’ll just be sending Virgin $20 every 3 months.

At the end of October, after much delay, we *finally* moved all of our stuff out of the storage unit we had been renting for nearly a year. We’d originally rented it to clear out the attic before we had the roof done last December. Before we knew it, it was just an extra off-site closet costing us $140 per month. Not any more.

In addition, the annual Escrow Analysis that Countrywide did on my mortgage lowered my payments $40 each month.

All of these together, in the span of one month, trimmed $220 from my monthly expenses. Over an entire year, that will be $2640 more that I can throw at debt, or even better, savings.


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