Darrington Library Blog

Tuesday, February 14, 2012

Weight Loss and Debt Reduction

Did you make a New Year’s resolution? Are you sticking to your resolutions or do you think about them less than you did on January 1? Have you forgotten them completely? If so, you are not alone. January passes, February arrives, and March is near. Resolutions may seem like they were made a long time ago.

Set priorities. Perhaps your resolutions were about weight loss, stopping smoking, and eliminating debt. You can do it. Make a commitment, be determined and plan to sacrifice a little. This is your own personal challenge, much like a sporting event. You can win.

New Year’s resolution goals can complement one another. Every time you get the urge to buy a pack of cigarettes, to buy a drink or munchies when you aren’t really thirsty or hungry, or to buy a trinket you don’t really want or need, try to resist. If you don’t make the purchase, keep track of the money you saved. Put the amount you did not spend into container. Master your cravings and your funds will increase while your cravings decrease.

Try using the debt snowball method described at Wikipedia.org. Apply the amount saved from ignoring your cravings toward paying down your debt. For example, perhaps you have three debts. Your monthly payment for the first debt targeted for elimination is $150 per month, the second debt, $250 and the third debt, $350. You have identified $100 of unnecessary expenditures you can eliminate each month. You are paying a total of $750 per month toward your debt and you are saving $100. This makes a total of $850 you will use to eliminate debt.

So let’s get going! Add the amount saved from eliminating unnecessary expenditures ($100) to the first debt targeted for elimination ($150). The total amount you will pay on the first debt now is $250. This debt is going to be eliminated much faster by paying $250 rather than $150 each month. Continue making at least the minimum payment on all other debts. When you have eliminated the first debt, apply the $250 you were paying toward debt number one to the amount usually paid on debt number two ($250). This makes a total of $500 you will pay monthly to eliminate debt number two. Once the second debt is gone, apply the $500 you formerly paid on the first and second debts to the $350 payment amount of the third debt. The total you are now paying toward your third debt is $850, the same amount you started using to eliminate debt. Hopefully, by now you have completely eliminated the smoking, munching, or purchases you don’t want and the amount in your container is growing each month. As your savings increase, you have more available to pay down debt.

Weight loss, debt reduction or stopping smoking all require prioritizing, commitment and determination to succeed. Call your library to help you find material to help you attain your New Year’s resolutions. We have materials to help you learn about the topic of your choice, to help you with self-improvement, or to entertain you. There are books that will make you cry, DVDs that will make you laugh, and CDs that will help you kick back and relax. Use our travel books to plan a trip, our computers to buy your ticket, and download our e-books so you will have something to read on the way. Your library is waiting for your call. pc

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