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The big breakdown

February 2nd, 2008 at 05:57 pm

I decided to pay off one of my debts with the challenge money I got today. I then put the remaining $227.68 into savings.

I have a bunch of eBay money from January just sitting in PayPal right now that I don't know what to do with. eBay still hasn't taken out its fees even though it was supposed to happen at the end of January. I don't want to move that money until the fees are taken out. Assuming that's done sometime in the next week, I'm going to throw more of that money toward debt and savings.

I believe in following the one-third rule when extra money is "found." One-third goes to savings, one-third to debt and one-third to immediate needs. However, all my immediate needs are more than taken care of in my monthly spending plan and I'm trying to build up the new car fund faster so I'm fudging on that rule for now.

1 Responses to “The big breakdown”

  1. tom kubik Says:

    Thats is excellant you feel glad that you saved that money you never know when your going to need it
    I recommend saving up 6-8 months of emergency expense in a seperate account gaining high interest

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