even little snowflakes add up

July 12th, 2007

Even little snowflakes add up

Yesterday I received the check from the textbook buyback company I sold the first textbook of my spouse’s to, so today I went to the bank and deposited it. $27.97 more to snowflake to the credit card. Yippee! Which will happen tomorrow when I make my monthly minimum+ payment. Goodbye $227.97 from my bank account, hello reduced debt total. Again… yippee!

I have a goal in my budget of snowflaking $100 a month above and beyond my “standard” snowflake of anything above the minimum payment that makes my total payment $200. For example, my minimum payment this month is $123 and when I pay it tomorrow I will round it up to $200 automatically. I have been doing this for a long time now and as the minimum goes down (when I started, the minimum was $199 so the snowflake portion was only $1) the snowflake goes up. But when I designed my budget, I set another line item with a goal of snowflaking an extra $100/month above and beyond this. Paying close to $300/month to the card is the necessary first step to achieving my Dec 2010 goal of being all-but-mortgage-debt free.

My goal within that $100 snowflaking line item is to raise that money as much as possible from alternative income streams. Basically my only concrete ideas on that at the moment are online surveys and selling my possessions. But it is working so far, at least, I am raising some money from alternative income and I am snowflaking it. We’ll see if I can keep it up and if $100 will continue to be reasonable. As the emergency fund is completely built up, I will hopefully be able to divert more of our “regular” income to snowflaking as well. That is, if I continue to have good months at work. July isn’t really looking so promising at the moment.

~J

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