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Interest

December 6th, 2006 at 10:36 am

Hubby's vacation money came in. After the taxes (yikes!), I decided to let things sit for a bit and ponder it. I know we need to use some of it for repairs like new doors for the front and back of the house. But I thought I might be able to make increased payments on a credit card and push the process forward a smidge. Well, I worked with the spreadsheets for a while. I already had a sheet that automatically adjusted for payments and interest and another sheet that showed percentage of use. (See, I AM listening!) Hubby helped me set these up. Then, today I got curious--and then brave--I set up a sheet that showed interest paid on each credit card and totals. OUCH! I PAY THAT MUCH EACH MONTH IN INTEREST???? Facing the problem is the first step. Now, I need to figure out step two. A plan of action. I am motivated more than ever to do something about this. Look out credit cards....this is WAR!

7 Responses to “Interest”

  1. tinapbeana Says:

    now you know why my blog is titled "Money Wars!"... me against the CC companies, baby! congrats on the 'windfall', and may the financial strategizing pay off greatly.

  2. janH Says:

    Thanks, Tina! I need all the encouragement you guys give me!

  3. rduell Says:

    Way to go, Jan! Just recognizing the facts is the first step. Now you have the knowledge and can use it to your advantage!

  4. janH Says:

    rduell, I am now realizing that knowledge IS power! Thanks!

  5. Ima saver Says:

    Good for you JanH. Get those suckers paid off. I did and now I pay them every month. I only charge the amount I have budgeted for charge cards. I write it down in a notebook and when I hit my limit, I stop.

  6. Aleta Says:

    And in the future if you need something and you have to take it out of your emergency, borrow from yourself and pay it back. Be your own banker. Good luck!

  7. Broken Arrow Says:

    Go get 'em, Jan! Don't be shy about baring those claws. Wink

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