What a great question that I really never thought of. We do our payments right on payday, often leaving us short towards the end of the pay period. I always want that money on the debt right away as it feels great watching it go down, but then we struggle and sometimes end up using more credit to make it to the end of the pay period. I'm going to start doing this now with our next pay. Thanks - good question.
Timing of payments?
I am just curious of what others do if in a similar situation to me. I am paid twice monthly and my snowball is made up of equal parts each payday of $250, for a total of $500.
Do you opt to make your additional payments on whatever bill you are currently putting the extra on as soon as the money is available? Or do you wait until you have it gathered for the month and do it all at once?
I am opting to pay as soon as it is available as it does me more good being paid to them, and not just sitting in my account for a few extra weeks.
Do you opt to make your additional payments on whatever bill you are currently putting the extra on as soon as the money is available? Or do you wait until you have it gathered for the month and do it all at once?
I am opting to pay as soon as it is available as it does me more good being paid to them, and not just sitting in my account for a few extra weeks.
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