CC Interest
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CC Interest
| Thu, 11-03-2005 - 1:10pm |
One of the things that I track is the amount of interest paid on each card each month.
| Thu, 11-03-2005 - 1:10pm |
One of the things that I track is the amount of interest paid on each card each month.
Good for you! Just think, every year it will get smaller and smaller and every payment you make, more of it goes to principal. Those spreadsheets can really be a good motivator to see how far you have come and to see where you are going. Keep up the great work! :)
~leanne
~leanne
deciding to be happy doesn't mean that everything is perfect, but that you had decided to look beyond the imp
All my best,
Danni
For me I wouldn't consider myself debtless with still having a balance on a credit card even though you have the money to pay off the cc - things can always happen. For example (sorry if I sound so negative) what happens if you loose your job or get sick and you end up needing to use your emergency fund to pay for the basics.
See this is about to happen to us. I am going to loose my job soon and we may well need to use our savings/emergency fund to survive. The money I have in that account could pay off the rest of the cc but I can't do that right now as I may really need that money to pay the mortgage.
When my cc are paid off I will consider myself cc debt free. When and if I ever get the mortgage and the van paid off I will consider myself loan free.
I will consider myself debt free when the time comes when as soon as a monthly bill (utilities whatever) comes in the mail and that same day I can turn around and pay the bill without having to dip into the savings account to pay the bill.
You are a braver woman than I looking at the CC interest you pay each year. I cringe to even think about it. That being said, I finally dug the Quicken that I've had laying around the apartment for months out and set it up yesterday at least as well as I can until the next bills get here from the credit card companies. I'm so bad that I don't even know the interest rate I'm paying on some of my cards. Hopefully in the next couple of months I'll have a handle on exactly what I've gotten myself into and what it will take to get out of it.
Heck just looking at the total CC debt, and the car loan, and the student loan, I have is enough to make me sick to my stomach. Never again, I keep telling myself that. Never again, will I have debt like this.