Comments on: Is it easier to pay back small amounts? http://www.bluntmoney.com/is-it-easier-to-pay-back-small-amounts/ Wed, 12 Oct 2011 07:20:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Family Savings http://www.bluntmoney.com/is-it-easier-to-pay-back-small-amounts/comment-page-1/#comment-15590 Family Savings Fri, 29 Jun 2007 18:29:19 +0000 http://www.bluntmoney.com/is-it-easier-to-pay-back-small-amounts/#comment-15590 Yeah looking at a huge number like that can be discouraging. It probably seems like it will never get achieved. I think that's a good idea to break it up into smaller amounts. You could break it down to how much you owe every quarter of the year. Then for those months pretend thats all you owe and try to pay as much as possible so that by the last month you'll be ahead and only have to pay the minimum amount due. Yeah looking at a huge number like that can be discouraging. It probably seems like it will never get achieved. I think that’s a good idea to break it up into smaller amounts. You could break it down to how much you owe every quarter of the year. Then for those months pretend thats all you owe and try to pay as much as possible so that by the last month you’ll be ahead and only have to pay the minimum amount due.

]]> By: bluntmoney http://www.bluntmoney.com/is-it-easier-to-pay-back-small-amounts/comment-page-1/#comment-15585 bluntmoney Fri, 29 Jun 2007 15:21:41 +0000 http://www.bluntmoney.com/is-it-easier-to-pay-back-small-amounts/#comment-15585 I bet you guys are right -- it's the short term vs. long term that's really easier. I bet you guys are right — it’s the short term vs. long term that’s really easier.

]]> By: Beth http://www.bluntmoney.com/is-it-easier-to-pay-back-small-amounts/comment-page-1/#comment-15584 Beth Fri, 29 Jun 2007 14:45:27 +0000 http://www.bluntmoney.com/is-it-easier-to-pay-back-small-amounts/#comment-15584 It's easier to sacrifice things for short-term than for long-term. It's easier to say, "We're not going to eat out at all for the next two months, and we'll be eating as cheaply as possible at home." Two months is a reasonable time to make sacrifices. When it starts dragging on, it becomes mentally difficult. Also, two months is a reasonable time of not having a lot of unexpected expenses. For multiple years, there will be many unexpected expenses that the extra payments would become more difficult. I really like the drawing of a house. I think I'll use that to have a "saving for a down payment" fund. (However, it might be fun to challenge yourself to send in double payments two months of every year.) It’s easier to sacrifice things for short-term than for long-term. It’s easier to say, “We’re not going to eat out at all for the next two months, and we’ll be eating as cheaply as possible at home.” Two months is a reasonable time to make sacrifices. When it starts dragging on, it becomes mentally difficult. Also, two months is a reasonable time of not having a lot of unexpected expenses. For multiple years, there will be many unexpected expenses that the extra payments would become more difficult.

I really like the drawing of a house. I think I’ll use that to have a “saving for a down payment” fund.

(However, it might be fun to challenge yourself to send in double payments two months of every year.)

]]> By: Fabulously Broke http://www.bluntmoney.com/is-it-easier-to-pay-back-small-amounts/comment-page-1/#comment-15583 Fabulously Broke Fri, 29 Jun 2007 13:23:42 +0000 http://www.bluntmoney.com/is-it-easier-to-pay-back-small-amounts/#comment-15583 I agree.. for me, it was easier to scrimp and pay off $8000 in a couple of months than it currently is to clear $15,000 > $30,000... So I haven't done your fab idea of colouring in a brick house (great visual idea!), but I have been saving aside money every month, and calculating if I saved all that money, how long would it take me to clear $15,000 outright? (They haven't come to me asking for the interest payments yet.. *crosses fingers*).... And it's helping so far, by my scrutinizing my budget every morning (I find it helps to remind myself about why I'm being so frugal) I agree.. for me, it was easier to scrimp and pay off $8000 in a couple of months than it currently is to clear $15,000 > $30,000… So I haven’t done your fab idea of colouring in a brick house (great visual idea!), but I have been saving aside money every month, and calculating if I saved all that money, how long would it take me to clear $15,000 outright? (They haven’t come to me asking for the interest payments yet.. *crosses fingers*)…. And it’s helping so far, by my scrutinizing my budget every morning (I find it helps to remind myself about why I’m being so frugal)

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