One of the most interesting and valuable concepts I’ve learned from reading personal finance blogs is that of snowflaking. Basically, its the idea that all sorts of found and extra money can be directed towards your debt, in small amounts. I like the idea, so I’ve set up a new Electric Orange checking account at ING Direct to hold all the extra bits of money that I can generate, and make sure that I funnel it all towards my debt. As of right now, the account has $192.00 in it – I transferred over $10 from my ING Savings account to get it opened, then added my $25 bonus from opening up a Revolution Money Exchange account, as well as $20 in referral money. I then got a $3 check from Pinecone Research, and my $134 State Tax refund. I’m planning to leave the initial $10 in the account (I have this fear that accounts with no balances will be closed), and add my federal refund and my stimulus payment to the account when they arrive.
I know it will be slow-going, but every little bit helps, right?
