Friday, July 07, 2006

June Credit Card Debt and Finance Charges

Whew...it took me a while to get this ready, but I finished running the numbers in Quicken and formatting the charts in Excel. I only ended up reducing my debt by $409 and of course I would have hoped for more progress there. I still had quite a hit with the finance charges of $330.53, but next month should be a very pretty picture in terms of finance charges. It's funny how my attitude has changed - now I want to hurry up and see my credit card statements :)

I mentioned earlier today, well yesterday now, that I am feeling quite uneasy about how my debt is spread out with balance transfers. It's late and I should get some sleep so I will elaborate more this weekend.

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NOTE: This blog focuses on my credit card debt, but because my Prosper loan transferred some of that debt away, it will now be included in future reports.

3 comments:

LeighAnn said...

You are doing great! Keep it up and it will be gone before you know it. You are staying focused....that's the most important and that your debt will never be as much as it is now. It will keep going down.

GREAT JOB!

D said...

I hope you are relaxing a bit now. Debt will make you age--at least the stress from it. Looks to me like you are on the right track.

One suggestion - so you don't forget payments or lose your new lower rates. Make the minimu payments automatic for the day before they are due. Then continue to pay extra when you can.
Maybe you already do this?

I'm cheering you on!!!
-d

Tricia said...

Thanks LeighAnn!! I don't ever want to have my debt that high again. I want to go to cash only living.

D - It's funny, blogging about my debt is actually making me stress less about my debt. Probably because I am keeping better track of it. I kept track before, but I never had all the info staring me in the face. I have a way in Quicken that helps me to not pay things late. It's hard to explain. I think the thing I worry about most is having a balance transfer expire and being stuck with a high interest rate again.