At the end of the year, I’ll post a huge pic showing how my debt has moved all over the place. For now, here’s the past three months as well as finance charges paid:
Unfortunately, the finance charges are going up a little bit. That’s due to a balance transfer of 3.9% that expired and only having an offer of 6.9% to move it to. I am still waiting patiently for a nice 1.9% balance transfer offer, but unfortunately I haven’t had any of those recently.
The finances charges have come a long way from back when I started this blog. Just look at the finance charges in the $400 range back in March and April!
I feel really fortunate that I was able to shift things around to reduce the credit card interest rates and to reduce the monthly finance charges. I have $300 more a month now because of it. While it doesn’t feel like I have that extra money due to all of our big expenses lately…I know it’s there.
Come to think of it, I have done a lot of work to reduce our interest rates in terms of time spent. But with saving $300/month by doing that work, I feel like I am getting a great return on my investment (time).
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About This Site
My Debt
- Original Debt: $38,495.86
- Paid: $17,435.80
- Remaining: $21,060.06
- Broken Down
- Auto Loan 1: $0
- Credit Card: $0 Woo Hoo!
- Student Loan: $9,680.19
- Auto Loan 2: $11,379.87
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Posted: December 8th, 2006 at 12:54 pm
Wow you’ve done an amazing job reducing the impact that financing charges have on your debt. That’s the biggest thing that kills me is seeing just how much money goes to pay interest.
Posted: December 8th, 2006 at 4:41 pm
Yes, you’ve done an amazing job! Keep up the good work!
Posted: December 10th, 2006 at 10:18 pm
I just wanted to list some of the credit card companies that I have found low rates with.
Chase and Citibank are always offering 0% intros.
AAA offers a card with 0% intro. Washington Mutual is another but make sure to get out of it before the intro time period expires. Juniper is another and check with your college alumni group. Discover has “for life rates” deals. Commerce has low rates.
Stay away from HSBC, Household finance and Orchard Bank, all horrible to work with.