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Half Payment Method

Updated on March 3, 2016

savings

I have been struggling with my financial problems for awhile. I found a way to save a little over $4000 by December of 2016. I have done some research and found an article on the HALF PAYMENT METHOD. It really opened my eyes to see that I can really save some money and I thought " where has my money been going?"

When I did my research It really surprised me how much thought I was putting into where my money was going and what it was for. Yes, I was paying my bills but for some reason there was nothing left over and I now understand. From the research I found I realized by splitting the payments in half on each check I could save about $200 on each check. That's roughly $400 a month extra. It pains me that I have spent money on frivolous things and that I wasn't paying attention.


How much could I really save?

When I did my research It really surprised me how much thought I was putting into where my money was going and what it was for. Yes, I was paying my bills but for some reason there was nothing left over and I now understand. From the research I found I realized by splitting the payments in half on each check I could save about $200 on each check. That's roughly $400 a month extra. It pains me that I have spent money on frivolous things and that I wasn't paying attention.



Coming to Realization

I also realized in order to do this I will need to start watching what happens and where my money goes on a day to day basis. I started getting coffee from Starbucks and eating out a lot more than normal. When I saw this method online i literally freaked out with excitement. I have been stressing on how to pay my debts off and Now, I am able to save and pay it off easily without having to stress about getting a second job and STILL take music lessons. I am really ecstatic that I will be able to save $400 a month rather than the $143 I was previously thinking. I am just over joyed. Once I get that down I will use the envelope method so that I can put money away for certain things. Hopefully, By next summer, I will be able to go shopping with my mom and grandma and have great shopping day's and not have to stress about how much I have left after bills. I am more than excited to say that I can pay both my mom and grandma back without having to stress about it if I follow this diagram correctly. Paying them back will be an amazing Christmas present.

Finances

would you use the half and half payment method?

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