What Do You Snowflake To?
Apr 14, 2008 Author: paidtwice | Filed under: Feature PostDebt is the most common snowflake target discussed, but in reality there are many many things we can be snowflaking our extra pennies to. What is your snowflake target? Debt? Savings? Investments? Fun?
And what specifically is your target? If debt, what debt, and why? If savings, what are you saving for?
Let’s see how many different types of snowflakes exist out there!
Our current snowflake target is my spouse’s student loan debt. Leave a comment with yours!
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6 Responses for "What Do You Snowflake To?"
[...] over at The Snowflake Revolution asked us today, “What do you snowflake to?” I am snowflaking toward debt. Hurrah! And it’s nearly gone, [...]
I decided to start snowflaking for college expenses for our oldest daughter who is a junior in high school. We know she’s going, just not where, so I’m creating envelopes for those expenses we know aren’t going to fund themselves. Once the first envelope is funded (for a new laptop), then I’ll move on the the next one which will probably be for all the dorm needs and wants (microwave, bedding, etc). I’m keeping these cash-based so they are totally liquid in case we need to swap funds for some reason, and that way she can easily contribute (but not withdraw until C-Day!). Or I might have multiple envelopes being funded at once. - have to see how it goes. I love the snowflaking concept, and once I introduce it to my daughter, I hope she will, too. We start today!
I’m taking all of my own personal snowflakes and putting them into my investment account. Kind of feel awkward admitting that I’m actually saving for my Ferrari, but I am! It’s not only my dream to own a Ferrari F430, it’s always been part of that dream to pay for the car outright and never owe a penny on the beautiful girl.
I also take the “left over” money from my hubby’s paychecks and snowflake them to our loan debt. Definitely time to get cracking on eliminating that and being able to devote all snowflakes to savings!
Hurray for snowflakes! I just checked my investment account, and the promo code I used when I opened it just went through. That’s a $50 snowflake directly to where it would have gone anyways.
I am currently snowflaking to pay off a $1400 credit card balance. If all goes well and all my anticipated snowflakes come, it should be paid off next month. My next snowflake target will be my car loan.
After finding out about snowflaking in late Dec 07, I decided to snowflake our HELOC. I had always considered this part of our “house/mortgage” and figured I’d “need” the tax break on the interest. I finally realized that this is indeed a debt like any other, and I am better off paying it off than having it around month after month. Your snowflaking idea was like a lightbulb going off in my head, so I thank you for that! We have used a large ($10k) bonus to more than halve the HELOC, and have done 3 monthly snowflakes as well to chip away at the debt. I will use the stimulus rebate and any other bonuses/commissions to throw against it as well. I have a goal to get rid of the entire HELOC by Dec 08. Thanks for lighting the fire under me again!
I just paid off my open ended line of credit (France’s version of a credit card) with a combination of snowflaking and then a large lump sum from a gift. Now I have two snowflaking targets: increasing my emergency fund and paying off my car. I can’t pay extra on the car loan, only pay it off in one fell swoop so everything extra goes into the emergency fund, and when I get enough to pay off the car I’ll do that.
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