Category Archives: Debt

How Much Interest do I pay to Financing Companies and Banks? TOO MUCH!

How Much Interest do I pay to Financing Companies and Banks? TOO MUCH!

This post was inspired by a post written by Patrick at Cash Money Life titled, “Do you Know How Much Interest You are Paying Each Month” and Matt Jabs at Debt Free Adventure titled, “How Much Interest am I Paying? Hint, its Less.” Interestingly Patrick uses just examples, and Matt uses his real numbers. When

The Horror of Just Paying Monthly Minimum Payment to Credit Cards

The Horror of Just Paying Monthly Minimum Payment to Credit Cards

I think a lot of the people’s consumer debt stems from charging a large ticket item into “manageable” monthly minimum payments.  However, the problem that often arises is that a person only pays back the minimum. If we take a credit card bill of $5,000 with an interest rate of 15% and the minimum payments at

What Kind of Credit Card Debt Repayment Person Are You?

What Kind of Credit Card Debt Repayment Person Are You?

I’d like to think that I have a wide variety of friends.  These friends range from successful business owners to civil servants to a friend that was unemployed for the better part of 18 months (health reasons).  So it was interesting when I told a bunch of them about getting rid of my credit card