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My First Credit Card Late Fee in Years

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One day late. That’s all, just one day late and my credit card with the lowest balance whopped me with a $29.00 late fee.

True, it is my fault it was late – but it was one day! Ugh, all I could do was kick myself. That was $29.00 that could have been used for something else. To top it off – they raised my interest rate by almost 2%! As if the $29.00 wasn’t enough πŸ™

I could sit here and write a million excuses why it was late but I won’t because I have to take full accountability for what happened. That sounds so extreme as I write it, but it’s true. When you want something so bad, you have to keep focused and learn from your mistakes.

And learn I did. All of my credit cards now have the ability to schedule payments ahead of time online. And that day – I scheduled ALL of my payments for the month. That is what I am going to do from now on.

Oh – and I am even more pumped to kiss that credit card goodbye! πŸ˜‰

Technorati Tags: credit+card, debt

My February Net Worth!

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Drumroll please……..here it is, my February net worth:

$-51,900
January net worth: $-52,200.

My net worth increased by $300!!! It may not seem like much, but it is a start! I thought for sure I was going down, but I didn’t and I am VERY happy!!

There is a neat website to go to where you can keep track of your net worth, and look at the net worth of others: http://www.networthiq.com. That’s where I am listed, and here is a link to my profile.

Technorati Tags: net+worth

I am BACK!! Woohooo!!

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It’s taken some time to transfer everything over – but I believe I have all my posts back over here. Unfortunately, I do not have my comments. I apologize to everyone who has left a comment. Please know that I still will keep your links in place. I am still working on getting those up and running.

Blogger is currently having technical difficulties and it is affecting my blog. I cannot always publish things or update my template. So I am having troubles getting the links added. They will be up as soon as I can get them up.

In the meantime, I will try posting – but I am not sure it will always work. Please bear with me as Blogger fixes this problem.

Thanks for stopping by!

-Tricia


Refinancing Your Auto Loan

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My current vehicle was purchased new with a 10.9% interest rate. We may have been able to negotiate a lower rate at the time of purchase, but it was just a horrible day (it was 9/11/01) and we just wanted to go home and get the car purchase over with (we had to have a car because our other vehicle wasn’t working right – and we traded it in). So, we lived with that interest rate.

About two years into the loan, I learned that you could refinance your auto loans. I thought that was a great idea and it would help to negotiate a lower interest rate and receive a lower monthly payment. I cannot remember what company we tried, but we were denied. They said we had too much debt and were too much of a risk.

After getting turned down, I too easily gave up and didn’t try another company (which I realize now was a mistake on my part). I also should have tried going to a bank and seeing if they had a loan with a lower interest rate.

I am happy to report that our vehicle will be paid off in September of this year, and as it stands right now, our vehicle is still worth $6,000. That is a little less than half of the price we paid for the car, so I believe our car has held up in value quite a bit. I want to have a little party when our car is paid off. It will actually be ours and not the banks!

Technorati Tags: auto+loan, refinancing

Do You Have a Problem Spending Money?

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I was surfing the web and came across this neat quiz from MSN. It’s their “Savvy Spending Quiz.”

Savvy Spending Quiz

I should be so ashamed of myself. My score is 25 out of 100! I really flunked that one – LOL. It shouldn’t be a laughing matter, but sometimes you have to laugh to keep sane.

My results basically told me what I already know – that I have a credit management problem. I do have to argue a little bit with that one. I am learning all the tools and I already know quite a few that I need to manage my credit. I just need more funds to pay everything! I am just laughing right now. Now I just had the urge to cry. But I won’t. I must stay strong and focused.

Technorati Tags: spending+quiz, credit+management, credit+problem

Debt Consolidation Companies

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I have seen so many advertisements for Debt Consolidation companies and I have been very tempted to go into one of their programs. I worked with a woman that joined a consolidation program. Her rates were negotiated lower with her credit cards and she had a lower monthly payment. According to her plan, she would have her debt paid off in 3 years.

I almost signed up right there, but one thing that she had to do bothered me. She had to close her credit cards and could no longer use them. Because our family was not in a stable financial position, I never knew if I would need to use a credit card just to buy food for the table or put gas in our vehicle. I just couldn’t close the cards.

Other consolidation companies may be different, but when choosing a program to go with, just make sure you read the fine print and understand what exactly will happen while in the program. There could be things like your credit cards needing to be closed.

Last I heard from that woman, she was having great success with paying off her debt and she was extrememly happy. These companies can do great things for people, just make sure you choose the one that is right for your situation and shop around.

Technorati Tags: debt+consolidation, debt+reduction, credit+cards

February Net Worth Coming Soon

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I was hoping to have my Net Worth up by now for February so everyone can see the change, but I just haven’t had the time. After seeing how many hours I worked last week (63), I can see why. My goal is to have it up for this weekend and I am almost done. I just have to reconcile two more credit cards.

If someone figures out how to get more hours in the day – let me know, ok? πŸ˜‰ LOL

Technorati Tags: net+worth