 Hey everyone and welcome to Nora's Cove. I'm Yoshida. Today we will be doing our how I plan to pick off my debt and I do have some new inserts here that I will be going over. We have debt snowball and we have debt avalanche. So if that sounds like something that you will be interested in stay tuned. Okay you guys so I already mapped out to make it a little easier. I got my plan over here. I've already filled it out on another paper but I was just jotting down going through giving all of my debt together and that way I could kind of get a bigger picture of what's going on. So here it is here. So now I'm just basically going to rewrite it. I'm going to put in the date and I'll probably fast forward through that and I'll come right back. Okay you guys so my total is $19,357.96. I swear this is what it was the last time I checked but maybe not. So only thing I forgot to write in but I would hit I added it in on the calculator but I didn't write the and what's my card number. My card loan and I owe $13,257.24 on that and the minimum payment is 363.20. Okay so I made a mistake on my earlier one. I actually wrote on that avalanche. So I made these inserts for myself but as usual I love to share so I'll make them available but I wanted to make sure that everything was right. I'm looking at them. Everything looks pretty good. They will come at all sizes including letter. So let me mark this out. Here's what my plan is you guys. I will be using the debt snowball method. Also I'll be using the avalanche method and here's what I mean. So as you can see here let me zoom in a little bit. So here my lowest credit card is Victoria's Secrets. I only owe $42 left on it so my personal mode method my next payment will be $42. Next and then I'm kind of mixed these up so credit one actually comes after Victoria's Secrets that is 187. I'll rewrite it that's 187.18 the minimum payment is $30. So I'll start giving this one like $50 and try my best not to use it. I'm actually using it as a business credit card because it's actually only like a $300 limit so I use it to get supplies sometimes if needed. So my goal will be to like if I use this card pay this off as much as possible but if I need it just pay it off at the end of the month if that makes sense okay. So then my next one would be Wayfair. Wayfair is 305. This ends on January 25th here it is January 5th 2022 so I need to have this paid off by then. So my debt snowball payment to them would be a hundred okay and then like I said here I would do 50 or pay off monthly okay and then next that would be the Walmart. I got the Walmart card you guys to get ink for my toner for my laser printer but I don't want everything but the ink okay and the ink is still high and the limit here is 300 as well it has some good perks to it but I want to pay it off. So the minimum payment is 25 right now my snowball payment it will probably be like 50 that's what I've been giving them is 50 until that's paid off okay and then so next up is Ulta. Ulta my big snowball payment would be 50 until I can get to paying them off and then the next one would be capital one it's down here it should be here I was just going in order that I was looking them up so capital one I owe them $400 but I want to get them not necessarily paid off but a low balance on them so that they can kind of increase my line only because I have savings accounts there and checking the account there as well but I will be doing $50 with them as well okay and then let's move up to community community this card started out being a Wayfair card but then Wayfair left them and went with Citibank but I still had the card so I was still using it thinking it was Wayfair and it was not so that's only a $500 limit as well so and this is only a $500 limit so my goal is to pay this one off so I want to also be giving them a hundred to pay them off and like no use okay Ulta my goal is to pay them off there's some things I want right now but I'm just not going to purchase them my goal is to pay them off as well capital one like I said we won't be just like paying them off it's going to be like an emergency card for me Citibank which is the best buy this is where I got my colored laser printer for that's what I originally got it for when I realized I'm just being honest with you guys when I realized that I can use it everywhere else since wearing it up and the limit is a thousand as you can see that I'm over it the minimum payment is three thirty three dollars and ninety two cents so that's just going to keep me you know there so they also will be getting fifty to a hundred on this card to get that paid off Barclays here's where I'm going to tap into the avalanche method the interest rate on this is so high so let me put Barclays over here on this avalanche and let me look up the interest on this so I'll be moving Citibank Barclays and Citibank on the avalanche so um yeah as you can see this is already felt I didn't do that so anyway um my interest rate on Barclays is twenty six point ninety nine percent super high this is my uh minimum payment I've been trying to give them a hundred it's bringing the total down because I was at twenty seven hundred it's bringing it down but the interest is still occurring on it so but whenever there's extra anything extra will go to Barclays first anything super super extra will go to Citibank next and Citibank is a twenty five point two four percent interest and um that amount is one thousand two dollars and ninety two cents as you can see again I am over on this card this card the limit was two thousand I'm over by five hundred and forty three dollars I'm over by two dollars and ninety two cents on this one that's because interest kicked in after a certain time and um the minimum amount here is thirty three ninety two um I've been given forty and it says forty like three years so if I pay forty dollars or thirty three dollars just minimally it'll take me three years to pay this off no so anything extra again along with the payment will go here as well so here is my plan y'all it's so stressful like looking at this my goal was to pay my car loan off in 2020 and this long start out like it's seventeen thousand I believe and I got the car in 2018 but I'm like this should have been easy to pay off but you know COVID happened so again I'll have Victoria's Secrets paid off I just made a payment it's due on the first of the month my goal is anything extra I'm going to pay I'm sorry the anything extra I'm going to give them like this week coming hopefully and I'll have them paid off before another payment is due Walmart that's just a credit one um I just know I cannot I could possibly have this paid off I'm going to do everything I can to probably probably have this one paid off this month as well because it's only 187 and then what I like to do is give them 50 here 50 there and something else I've been mentioning on is my loan I've been throwing extra at that because that was like 700 and I just kept giving them 50 50 um I got this loan last year was originally 1500 so um I want to definitely um continue to munch at that along with this credit one and then um Ulta you know it's a store card I'm still going to give them like 50 I'm not going to too much worry about that one a community I definitely want to pay this one off as well and so um I have 100 but I'll probably do in between 50 and 100 on that one and if I can't I'll do the minimum amount on that one um and then this way fair definitely want to get them out of the way because like I said I want this paid off by the date so I won't be putting anything else anything else on this way for a card like I'm learning that because I have like I think I have a $1,200 limit on this way fair I'm not ordering nothing else I'm going to pay this off and then like I want a new um dining room table or a kitchen pub table like I said I cannot get it until I pay this off so that's my thing now and then I'll work on that and then I'll at least try to have half of what that item is to go so as soon as I use it I can pay on it you know what I mean so I'll be making envelopes for some furniture and things like that um and thinking of envelopes you guys I'm not doing stuff in envelopes this week because it just wasn't there and I really hated I couldn't do one I had to go into my ones and fives I finally dipped in there and took out to put my bills but I think I've found out what's going on with my um money and where it's going um if a bill is due especially credit cards they're not coming out to the following week so basically I'm um a week behind so my week ahead envelope will definitely help it'll serve like kind of as a buffer so I definitely need to build that up I did not touch that buffer I wanted to but I said no I got to build this up so that this can stop happening so basically when I'm paying bills they're coming the way they're coming out because let's say uh it's due on a Friday I could pay early in the week but then the money's just gone I y'all I don't know but anyway so that is going to be my system from paying this off and again Barclays and Citibank they will be getting anything super extra that I have the car loan um I'm going to look into like the interest on this I think I've seen the interest it's really my interest on here is like I think seven percent um on my car loan which is really good um considering every all my other interests on all these other cards so I'll just give them an extra 50 or so towards the um interest and not necessarily the payment I think I'm going to definitely um do my research on that and again like with capital one just give them extra because they're you know they're accruing interest too and I believe my percentage rate on this card here is 24% as well um so in the loan like I said I'm just throwing extra at them every week just to get it down because that's a big chunk this 9611 and it's due on the same day as half of my car note so if I could get rid of that that would be perfect um that would definitely help out and then I would take this and start putting it towards um Barclays or um you know another credit card and that would help me to use this as a business card or eventually use my capital one as a business card and then being able to pay that off this credit one it was only for vacation purposes but then I decided to use it as a business purposes and so now I want to get rid of this it's unnecessary close it out and um just use my capital one eventually I don't want this Barclays anymore even though it's the highest limit credit card I have I don't like them because they'll send you an email after you pay your payment why don't you get ahead and pay your bill now no I do not want to I just paid y'all so I'm definitely I'm going to get rid of this card um my city bank the best back card I feel like I would need that for like getting stuff for my business but I think I'm gonna let that go as well and I know people say well once you get rid of your car as your credit score is going to dip at the moment I'm not looking to purchase anything big like a home or a car um where I need to have that credit score so I know my score will rise again especially once I start paying on some of these things so I don't care I don't care about the dip and my um credit score but that is my payoff plan you guys what is your method if you are if you are debt free what is your method of paying off debt and do you use the debt snowball or do you use the avalanche like I said I'll be doing both um I just figured that would be the best way for me I mean to each his own but I just think paying the smallest to the largest is fine but in my case because I'm already over um on the Barclays and the city bank I feel like I need to pay these off but also at the same time throw everything at these because they're accruing interest and it's killing me you know like someone may say well won't you just do avalanche all together but I just don't want these other ones just lingering because they too would be accruing interest like I know Capital One definitely accrues interest so I definitely want to just get these kind of paid down and then at the same time do this avalanche method and then who's the same maybe later I'll just go into straight avalanche you know so I'm gonna add the date but that is it I hope this was helpful to someone who may have some credit or debt that looks similar to mine um I'll put this date and then once I pay it off I'll put the date there so I'm gonna go over this just real quick um again this is the debt snowball method this is that snowball uh pay off insert and you have your start date and then you'll put your pay off date it does come front and back so that way if you have a lot of debt you can just roll it over and it will be a download and then you can put your um this is the first one so it's a little smaller so you have more room on this side um so you can put this your debt here the amount of the debt that means the total amount and then the minimum payment that you pay now and then your snowball payment um if you want to like put your dates and stuff like that you can just add them to the side that you paid it or whatever but this will just give you a method of how to pay it off just give you a look of bird's eye view of what you're dealing with and how you go about paying it off and then there's room at the bottom so you can write in your total so that way if you need to bring all your debt down to the bottom you can and then on this side as well so that way you just have a kind of bird's eye view of what you're doing and to me I needed this because I need to see I need to see it this way I don't know about anybody else like I've written it on pen and paper at a notebook that was fine but still I couldn't grasp of like breaking it down you know I mean I just couldn't break it down that way so I had to break it down um digitally and then print it to make it to write it down this way to see and I think I see it much better put it like this I see it much better now that it's in it's categorized for me so um if your brain thinks like mine here you go so um I'll probably list these by the time you get this video it may be listed um if not send me a reminder because your girl just got so much going on but again I apologize there is no cash stuff in this week preferably we'll be back on it next week and also I'll have my monthly budget closeout coming it's all about the budget this week because it is the first so we'll have monthly budget closeout we'll have um our October budget which I'm also behind and then we'll have our weekly budget and then I'll be setting up this planner this week so you guys will get about four or five videos out of me this week so I will talk to you later I hope you enjoyed today's video if this today was your first time watching any of my videos and you enjoyed today's video and you love videos like 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