Comments on: Are You A Snowflaker?

By: Adfecto

Adfecto — Tue, 18 Mar 2008 21:23:54 +0000

I am only a snowflaker when I have “found money” show up. I use a zero based budget so at the beginning of the month I allocate all of my expenses, spending money, and savings so that it comes out to zero. Thus I make my alloted debt payments as soon as the paycheck rolls in, and then I make one large debt payment for the month. If I were to get some extra money somewhere in the middle of the month that I hadn’t included in my prior budget I usually let myself spend some of it (10-20% as a windfall splurge) and then send all of the rest to the credit cards (so in a way that would be a snowflake payment).

By: AJC @ 7million7years

AJC @ 7million7years — Mon, 17 Mar 2008 18:44:01 +0000

A great way to accelerate your snowflake strategy is to find ways to increase your income (get a payrise, take a second job or work extra hours, start a blog or a business on the side) and take at least 50% of that extra income and apply it first into your Snowflake debt reduction stategy THEN into your investment plan instead of just spending 90% – 100% of it as most people do.

By: paidtwice

paidtwice — Mon, 17 Mar 2008 15:35:11 +0000

Thanks for hosting my guest post! I hope you are having an amazing honeymoon