I have been trying to cut expenses, so that I may save a little more money. My husband and I plan to retire with in the next ten years. We are hoping that the stock market recovers in that time and while we are hoping that happens we are still contributing in the market just not with the same gusto as before. We are trying very hard to pay down both of our mortgages before that time and build a bit of savings. As mentioned earlier I have been looking for ways to cut my expenses and a few of the ways I have been able to were to: cut phone service from a line that wasn't really used too often,cut the gym membership, cut paying for my daughters savings and IRA and also cutting the amount invested every month in my sharebuilder account. With the amount that is now left over from not paying these bills every month it is all going to my outstanding balances on my credit card accounts. Once I have hit 0 with the balances that money will then go to savings. I should have the credit cards paid off by April or May.
Cutting Expenses to Pay Off CC'S
January 10th, 2009 at 03:59 pm
January 10th, 2009 at 04:11 pm 1231603897
About the only thing I would reconsider is instead of plowing all of your money (after CC's are paid) into savings, come up with three months reserves, then hack away at those mortgages. Worst case secenario is that if push comes to shove, you COULD refinance the cash out if serious trouble came about and your savings was not sufficient.
January 10th, 2009 at 04:23 pm 1231604612
January 10th, 2009 at 04:27 pm 1231604824
January 10th, 2009 at 04:29 pm 1231604966
January 11th, 2009 at 05:30 pm 1231695031