Snowflaking Recap

Snowflaking is a derivative of the "snowball" method of paying down debt.

For those of you that are new to to the blog, during the month of September I set up budgets for my variable expenses and kept track of my spending throughout the month. My goal was at the end of the month to take any money that wasn't consumed and put it towards my debt. 

As you can see from my chart above, it did not work out so well. I totally overspent on clothing cancelling out any gains I had made in the other categories. In my defense, September is historically a high spending month for me in the clothing category. I Blame it on the changing of the seasons. If I hadn't of overspent there I would have had around $58 dollars to add to my credit card payment this month (not to shabby). Instead it appears that I would have to take $4.95 away from my CC payment.

The good thing about this method is that it really calls attention to an extra money you have in your budget. The downside of this method is that it requires a little extra legwork each month coming up with realistic estimates and plenty of self-control to keep you under budget. I think that this would be great for someone just starting down the road of repayment for someone who knows the ins and outs of their budget it's less helpful. Ultimately I'd give it a thumbs middle. (I said it SSBF).

As for the next month I have no idea what I will be doing! Any one out there have any ideas? I'm looking at you PF bloggers! Help!