I'm addicted to snowballing!!

sammey90

I seem to have developed an addiction to snowballing. I am obsessed with paying money off then entering it into the snowball thingy.

I check the bank at least three times a day, transfer the pennies to the nearest £5 to my credit card, just so that i can see the balance change!

Am I mad? Does anyone else do this? Please tell me I'm not crazy....

Chick2organise

I want to be like you, how have you got to this stage, please please any suggestions.....
Ive budgeted wrong again this month and am already stressed out about it, i want to be able to check my bank continously and pay my debts like that..

thats great!!!!!!

angelicmary85

you're not crazy!!

When I started PADin' I was sooo addicted (and still am!) to checking my bank account to see how much I could spare and the great thing about PADin' is that there's suddenly heaps of payments made instead of the 2 or 3 I would normally make! I even went as far as to PAD tiny amounts for a few days (instead of one lump sum for the week) so I could tell people about it!

so_here_we_are

what is snowballing??????????

annie_d

and what is Padding?

mar1e

Which snowballing site/programme are you using?

Marie

windswept

I'd be careful who you tell that you're into "snowballing" as it also has an entirely different meaning!

Cleosmum

windswept wrote: »

I'd be careful who you tell that you're into "snowballing" as it also has an entirely different meaning!

Lol when I read it I thought :eek: then realised that Im tired and the OP meant the snowball calc type

sammey90

OMG!! I didn't think of that!!! I did find the other definition ages ago when i was looking for the snowball calculator that everyone was on about

WARNING : DO NOT Google it on a work computer!!

I use the snowball calculator on whatsthecost.com .

Snowballing is paying off the highest interest debt first, then the next and so on, and pay the minimum on the others. the assumption is that you set aside 'an amount' for debt repayments each month.

PADding is making a Payment a Day. I don't quite do this, but it seems to happen most days, depending on the 'change' left in the accounts.

Chick, you could try following all the advice that's usually given out here - meal plans, spending diary etc, but i know what you mean. My salary varies by +/- 50 per month, still haven't figured out why after 9 years!. On paper this month I had £188 spare (which was going towards our holiday), but did I see any of it? I seem to have lost £100 somewhere along the line. But what does work for me is to have a second bank account, get them linked to one card, at least online. I transfer my shopping, petrol and cash bills money into there, and then the other account is for all the other bill / debt payments and (rarely) savings. I have online control of most of my other debts, so that i can make silly tiny payments when i feel like it.

Wow, what a ramble!!

wigwam

I think i'm developing yor addiction to snowballing (debt repayment!!) too!!
Have used the calculator at least 4 times this weekend adding and subtracting payments to see how much quicker I can pay my debt mountain off.

Another very strange thing - after months of not opening bills or checking online banking I'm now addicted! I checked egg every half an hour the other day because I knew my online statement was due to see how much I'd dented it by. I know the figures are still massive but hey as long as they are going down and not up thats a bonus!

Right.. off to make a small payment....

CHR15

it should be renamed as Salad Tossing