Finance Charges

There was a time in the late 90s when I had no credit card debt. Considering how reckless I was in college and then with the drama surrounding my Mom’s death, I was really proud of that accomplishment. Then late 2001 I got downsized and I got reckless again. Now I’m on a plan to eliminate my credit card debt in 2004. I set this goal for myself after totaling up the amount I have paid in finance charges for the last 12 months. Goodness – total highway robbery! Granted it’s not a large sum of money (heck it’s not even 1/4 of my monthly gross), but its money that I could have had in my move to Europe (yes I’m thinking about this) or buy a condo fund. I haven’t decided which it will be but I’ll be making a decision in 2004. In any event, thank goodness I have good credit. I was able to transfer the balance over to my emergency credit card that is currently offering 0% finance charge on transfer balances until December 2004. The only thing left to do is set up the payments to make sure they are automatic so I don’t loose out on this great offer. And oh yeah, to forget about that Duncan Phyfe dining room set I’ve been eyeing on Ebay.
Btw, if you’re not using Microsoft Money or Quicken to manage your money, start now. It’s amazing what you’ll learn about your spending habits once you have the information all together for analysis.

4 Comments
  1. That is such an admirable goal. I am nearly debt free right now (if you don’t count the house that is in my name but is not my responsibility) – it’s such a wonderful feeling. I may be barely breaking even, but at least I’m not digging out of a hole.

  2. I’ve been on Quicken for years now. I love it. I’m not as thorough as I once was, but I was able to track every penny I spent. I was also shocked at how I spent my money. It’s even more amazing to see how your spending changes over time.

  3. Just thank God you don’t owe school loans. Especially if you didn’t get a degree. There is honestly no way of getting out of paying those that I know of whether you can pay them or not.

  4. Europe?
    What is so great about over here? Apart from getting away from Bush of course! That assumes you aren’t planning on coming here to Britain, where his brother Tony Bush is undermining democracy as well.
    ]-)

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