Tuesday, December 31, 2019

Transfer Tuesday and Paying Down Debt 12/31/2019

It's time to move some money around and reduce our debt.  There are a few things going on that will require cash.  The hubs is preforming a semi-major truck repair in the form of a water pump replacement. The cost of those parts is currently at $825.00 and it may be a bit more before it is all over.

We do put aside money for truck/car repairs in a  recently implemented cash envelope system, but there is not nearly enough to cover this repair.  The bill will be covered by eBay earnings that were originally earmarked for the HELOC repayment.

We have also made a few improvements on my she-shed (eBay storage) with the installation of a new light fixture an updated electrical.  This came to about $100 and will be covered by eBay earnings. 

Old principal (Heloc) balance $84,107.03

  • $13.52 Credit Card Rewards
  • $1000.00 from eBay PayPal account 

New principal (Heloc) balance $83,093.51

I set a 2020 goal of reducing the Heloc balance by $20,000.   Theoretically, I will be counting on eBay to help a great deal with the debt reduction by applying at least $1000 a month from eBay earnings. That leaves approximately $667 a month to earn/find/reduce other spending and apply that to the Heloc balance as well. 


  1. I like this idea! I think I'll use Thursdays to transfer funds to my savings.

    Can you increase your Ebay goal by about $100 per month? I know there's no guarantees on Ebay, but you just never know if you can reach it. Just add an extra listing or 2 per day, to help generate a little more income.

    Also, do you use point earning sites or grocery apps? Fetch is super easy, because you just add the offers, then scan your receipt after shopping. Same with Ibotta. You can transfer your earnings to Paypal and I think possibly your bank account. Every extra bit helps.

    Also try Instagc (I can send you my referral if you like). It's my favorite passive income site. You just click on videos and let them run. Just reset when a playlist ends (usually after an hour). At the same time you can perform another task(you can run one other task while Videos are running) I prefer Hideoutv. Another video playlist that you don't need to babysit. I can earn at least $25 per month on this site. It's not much, but I can work and clean while this runs. HTH

    1. I currently hae approx 820 items listed on eBay, the goal is to reach 1000 listings. Luckily January has been pretty good so far. My eBay yearly goal is to sell $30,000 gross which breaks down to $576 a week. Realistically, I think $20,000 is more attainalble :-) But it never hurts to aim high.

      I use Fetch, ( I may have used your refferal for that) IBotta, CheckOut 51 (which is a slow dime). Yes, please send me your link for the Instagc, I would love to give it a try.

      And Transfer Thursday is a great idea too! Thanks again for your encouragement and help.

    2. Youre welcome :) That's great that January has been good to you. Mine's off to a good start too. I need to keep listing though.

      My Instagc referral is https://www.instagc.com/pubbler

  2. Interesting idea! I'm doing something similar, but calling it Motivational Monday. Any money earned via Amazon's M-Turks will be transferred into a savings account for our future house remodel. I'm hoping this encourages me to earn more.

  3. You do really well with M-Turks! I like your idea of Motivational Monday!