And just like that ...
Yesterday was a very productive day in that I sat down, looked at my bills, and figured out what it would take to pay them off in two years' time. One has to take interest into account, of course, but there are formulas for doing that. And as soon as I can figure out how to put a mathematical formula in here, I'll do just that for anyone reading this blog.
The answer, BTW, is a surprisingly low figure. In fact, I've decided I'm going to add to that. And I'm going to start first with the one that has the highest interest rate first, and devote maximum resources to that one while making minimum payments on the others. Then, after that, I'm going to take the next-highest interest rate, take what I was paying on the other bill, add it to the minimum I've been keeping up with, and then pound that second bill down ASAP. Lather, rinse, repeat. Now that I'm caught up, I'll devote my resources to paying down bills instead of late fees.
Eight days down, 742 to go. And just like that, one percent of two years is gone.
The answer, BTW, is a surprisingly low figure. In fact, I've decided I'm going to add to that. And I'm going to start first with the one that has the highest interest rate first, and devote maximum resources to that one while making minimum payments on the others. Then, after that, I'm going to take the next-highest interest rate, take what I was paying on the other bill, add it to the minimum I've been keeping up with, and then pound that second bill down ASAP. Lather, rinse, repeat. Now that I'm caught up, I'll devote my resources to paying down bills instead of late fees.
Eight days down, 742 to go. And just like that, one percent of two years is gone.
posted by Pizza Guy at 11:59 AM
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