Monday, April 4, 2011

Spending Diet Update - Credit Card Excitement

No, no, I didn't pay them off.  Yet.  But I just had to pat myself on the back a little (okay, I made Justin pat me and I'm not saying where that pat ended up) for doing this in March:

Chelle's Credit Card:  $1,577
Justin's Credit Card: $294
Lowe's: $181
Big Fat Joint I Hate You Credit Card: $1,500

Total paid to credit cards for April due dates: $3,552!!!!  Three paid off and big fat payment to the joint (henceforth to be known as the "I Hate You") card.  And that hardly makes a dent, but I did want to give myself a shout out for not going out and buying either the iPad or the new camera.  (If anyone wants birthday ideas, a digital camera is at the highest top of my list).

Am I being redundant after yesterday's posts?  Sorry, but I just scheduled the payment for the joint card today, to be paid on our wedding anniversary (Happy Anniversary, honey!  I know this is what you always wanted!)  Justin is actually thrilled that I didn't go out and blow that tax return money.  In fact, I paid more than the refund towards the credit cards.

So, I spent a couple of hundred in March.  Yes, I stumbled.  I'm also clothed, for which the neighbors are grateful.  Their children do not have to stay inside behind closed curtains.  I paid off three credit cards and started working on the I Hate You card.

Next up...can I make a dent in my 10 year old student loans?  Hmmm...I wonder if I can figure out a way to electronically pay them and get anything extra I send to go to principal.  Right now, the bill says I have to mail it in for that to happen and I'm not willing to give them the cost of a stamp after all that interest I've paid.  I think a telephone call is in order.

Here's how the student loans play out right now.  I share this because I just got the bill today (and because it's going to come out in my article on the And Then She Saved Website on April 13th anyway):

Original Principal Balances:

Loan 1:  $5,654.81
Loan 2: $23,945.92

Interest rate 3.875% over 9,000 years equals I will never pay these freaking things off!

Current Balances:

Loan 1: $4,642.89
Loan 2: $19,354.80

Are you kidding me????  Can this possibly be true?  I've been paying on these loans for ten years and that's all the progress I've made?  Don't do the FAFSA, kids, unless you're willing to pay the price.  For years.  You'll be in their debt for life.  These things are worse than a mortgage.  Time for me to start paying down those balances.  I don't care what the interest rate is.  If I keep making the minimum payments, I'm never going to pay them off. 

Updates to follow...

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