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Friday, March 4, 2011

Interest Makes Me Sick

Today I received an email from trusty Mint.com.  They were informing me of my monthly intrest charge from one of my credit cards.  $92.58 for one month.  That is a lot of money!  Do you know what I could do with $92.58?  The possibilities are endless.  Well, maybe not endless but you get the idea.  The sickening thing is that I really didn't know it was that bad.  I knew we paid interest, but I was so overwhelmed with making the minimal payment, that I couldn't think about the extra money I was paying. 

Now that I am taking control of my finances, I am ready to look at these numbers.  My other 2 credit cards charge me $61 and $10- so the interest I am paying per month on all 3 of my credit cards is $163. My Student Loans charge me around $50 a month in interest. 

I hate that I am just throwing all that money away.  And it gives me that much more energy and desire to pay off this debt as soon as possible!

2 comments:

  1. I hear you. I pay about $350.00 towards my credit card debt collectively, but the interest total is about $160.00. The worst offender is Capital One.

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