New Plan

By next year I want to have my American Express bill down by about $5,000. Yup, you read that right, down $5,000. I currently do a $300 a month payment to American Express and the bill is PAINFULLY going down by like only $50. But I pointed something out to Jeff... after I get my paycheck I pay all my bills (including my half of the mortgage, car payment, Tivo and Life Insurance). After those bills are paid, the rest of my check (and granted it's not a lot) should be "extra" money. I don't eat out for lunch anymore, and I SHOULD only need money for gas to and from work. Oh, and maybe the occasional weekend visit with friends. With gas and this visit, that should be about $50 a week. The leftover money in THEORY should be sent to American Express. Thus following through on every financial book/article's advice on debt - the "EFFING THROW ALL YOUR SPARE MONEY AT YOUR DEBT AS MUCH AS POSSIBLE UNTIL THAT DEBT IS GONE".

But the idea of paying down $5,000 in one year seems overwhelming. Really overwhelming. And near impossible. I'm going to attempt to make it a game. I would like to make one extra payment a week to American Express of $20. I would also like to put $5 a week into savings. It's not a lot.. in fact, it's a little.. BUT I think if I start small like this it will be easy to keep this goal. And as I get better and better about budgeting, I might be able to plunk even MORE into American Express and my savings account. So this Friday I should have $25 set aside for American Express and Savings.

Wish me luck in the New Year!!!