I thought a good exercise would be to determine what exactly I have spent my money on the past while, and what exactly is still outstanding on my debts. So I took each of my credit cards and downloaded all the transactions posted to my accounts since the balance was last at zero (for 2 out of 3 cards – one didn’t go back that far L)
Next I put all of interest charges at the top of the list (cause you aren’t really paying for items unless you have already paid for the convenience of buying them. I then worked my way down the list marking off any charges that have already been “paid” based on my payment history on the account.
Good News: In all cases I had “paid off” all of the interest on my accounts. This means I am actually making a dent in the principal of my purchases.
Bad News: I am still paying off purchases from last year on one card, two years ago on another and 3.5 years ago on the third!!! Ouch.
This is a pretty good slap in the face. I recommend it to anyone, but make sure you are alone when you do this (might not want your co-workers to see you cry!)
If anyone else wants to own up to their spending history demons, please leave a comment below. Afterall, misery loves company.
Debt balance – same as last time
Credit cards to pay off – 3
“Extra Money” this month - $10 – eBay sales will be up shortly – looking “okay” right now
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment