Drastic measures to cut debt
Drastic measures to cut debt might seem a little over the top, but with the economy in the shape it’s in, I worry—a lot. So, we’ve taken a few drastic measures to trim our expenses so we can add to the amount we’re paying on our debt obligations.
To start with, we cut off our satellite TV service. We installed an antenna we already owned and hooked it into our digital TV. I subscribed to Netflix and had them send me the free disk so I could stream it through my Wii. Since I won’t be letting my internet go unless I’m desperate, I figure I should make the most out of it.
We’re saving $40 a month and spending an additional $9.82 a month. That’s not a bad bargain, and the Netflix setup is amazing.
I cut my grocery budget from $110 a week to $90 a week. So we’re saving $80 a month.
Just these two cuts have given me an extra $110 a month to pay on debt. That kind of money adds up. It also means I can go from paying just over the minimum payment on the Amex to $250 a month. That’s $1,000 every 4 months!
I will certainly be on the lookout for more ways to cut. I want out from under some of these monthly bills, especially the debt payments.
Have you ever made drastic cuts to pay more toward your debt?
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