Ok so shoot me now as I say I'm not a big Oprah fan. Honestly I've seen her show only a handful of times but as I was flipping channels yesterday I came across the show and they were talking about a "diet" so I had to watch since I have a weight problem. As I watched though they kept talking about curbing spending, watching what you spend, and the term Debt Diet came up. I finally realized the diet they were referring to was a diet from spending. I was SUCKED IN. Unfortuately I missed the first episode, but I caught the 2nd. Has anyone else been watching this?? Some of the key points were check your credit score, destroy debit cards which I have always been against using anyways since sometimes you forget to write things down, cut out extras anywhere you can and use that money towards a debt, and live on a cash weekly budget. What a great freakin idea! I never have been keen on carrying money around, I've always used my charge card and paid it off or wrote checks. The only thing about using my charge card is sometimes I don't always pay off the $600 or so I may charge in a month so then I get charged 11% interest. Mainly I use my credit card because it's a Upromise and we get money back for college, sounds like a great plan, till you subtract that money from the interest you've occured in a month!
I've been pretty good with a budget on our bills in the past but the rest of the money I just spend, I don't save anything usually. It drives Dave insane. I'll put $1600 on our bills (House, car, electric, gas, phone, cable, cell, credit card) then pretty much spend whatever without even thinking about it so I plan to try the Oprah Cash Weekly budget and see if this helps us save. I'll give Dave $50 and me $150 a week to spend on what we need and I'll keep the money in an envelope as they said on the show so I can keep receipts and write what I bought on the envelope. We'll see how it goes but I'm hoping if it works, we can really start hauling in the money on our savings. As I mentioned in a previous post, Dave's already thinking I'm blowing all our money on junk and we have should have thousands more in our savings then what we have now. So now I will prove to him that I can control where our money is going!
Don't miss Oprah today! It's Part 3 of the debt diet!!! If you want to see more on this, click here for her site.