Tuesday, January 21, 2020

Transfer Tuesday and Paying off Debt 1/21/2020






Transfer Tuesday is here and it is time to move some money around to pay down debt!

We have made a couple of purchases with the rewards card, mostly items for my husband's church.  They have several upkeep projects on going, and my husband uses his tithe money for such projects.  He put about $370 dollars on the card for electrical wire and stuff.  This month we are getting 3% back on purchases from Lowes, Home Depot, etc so that will be a few more dollars we can put on our debt.

Back to the cash envelopes and maybe opening a Capital One 360 account with multiple savings accounts to track sinking funds, I still am on the fence about it but after this week, I may go ahead and try it in moderation. 

I made two purchases for the yard, see the Firecracker plants I bought, and I debited the purchases.  Meanwhile, I have the CASH for the purchase at home in an envelope, but it was kinda spur of the moment and I have been looking for those plants forever. If I had the digital sinking funds on Capital One 360, I could slide the money over easily instead of driving to the bank to make a deposit, or finagle some way to redistribute the cash for the envelopes next week. The struggle is real!


So tomorrow, I am going to the bank to deposit CASH for what we spent on the yard and then I will apply that to the balance of the HELOC. 

Old Principal Balance $82,999.46

  • 20.53 (Home Improvement)
  • 47.07 (Home Improvement) 
New Principal Balance $82,931.86

How are you doing on your debt?  Successfully whittling it down, I hope!


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