I cant believe it

supanerdstef · **I cant believe it**

I cant believe how much we owe! its alot. about $10,000 in credit cards. we owe on my car, so im guessing about $10,000 as well.
So we pay each month - $300 in credit cards, and $333 in car payments if we just pay off the credit cards alone thats $300 extra month!! wow. and im sure the intrest is high too. After seeing it. i want that paid down. NOW! I found my new years resolution will be!

searching4 · 12-15-2007, 10:27 AM

Join the club

! You really should check out what your interest rate on your credit card is. If it's high, you should try to find another one (offers come in the mail all the time) that has a cheaper rate and switch. It could save you alot in interest.

SAHMto3boys · 12-15-2007, 10:45 PM

If you do switch to a lower interest card, make sure to watch for the fees! It used to be 3% (min $5, max $50-75) now a lot of cards have taken off the max.. so 3% on $10,000 would be $300!!!

Chin up though - the debt you mention is probably pretty average! (sad, but true) Knowing what you owe is the first step!

If you know how to set up an amortization schedule, this helps keep track of your debt! (I didn't know - my sister made me one!) If you want a copy PM me! I LOVE being able to look ahead to see when the debt will be gone!

melsb · 12-16-2007, 09:55 AM

It does add up fast, doesn't it?

chopey · 12-17-2007, 01:58 PM

Might I suggest Dave Ramsey's "the total money makeover"....works wonders.

supanerdstef · 12-17-2007, 02:03 PM

Im going to have to Google Dave Ramsey. Ive never heard of him before I joined MS, sounds like he coul help me alot

supanerdstef · 12-17-2007, 02:03 PM

Im going to have to Google Dave Ramsey. Ive never heard of him before I joined MS, sounds like he coul help me alot

chopey · 12-17-2007, 02:26 PM

go to daveramsey.com. I'm listening to his pod cast right now online. On his site you can buy all his books for $10 each right now, an awesome deal! To listen to him now, when you go to his site, on the left, click "the dave ramsey show" and then at the top click "listen now" and then pick which ever player your computer uses....it's a good show and it puts things in perspective. I hadn't heard of him either til MS, but what an eye opener.....you'll be surprised, but sadly, most of it's common sense n o one pays attention to. Good luck!

sportsmom · 12-17-2007, 02:40 PM

I am going to check this out too. Thanks for the tip!

T-shell · 12-17-2007, 03:26 PM

Good luck, Supanerdstef! It's not fun to have high CC balances and pay out the equivalent of a car payment or two to the CC companies each month.