Wednesday, April 16, 2008

It's absoultely killing me

I decided last month that starting this month I would put $900 a month into my ING account and then on the 20th of the month I would withdrawl $566 and apply that amount to my cc debt reduction. This is completely different that what I am used to doing. Usually, I placed $500 into my ING account of the 1st of the month and then paid $400 towards cc debt reduction on the 6th of every month. However, I decided to get the most out of my money that it should all go into the ING account until the last possible date that the cc's need to be paid which is the 26th of every month. Plus, I am going to start paying $566 towards debt reduction instead of only $400. The problem is that I want to pay the cc's so badly so that I can update my side bar. I updated my side bar for my ING account, but only by $334 instead of the $900 so I don't feel like I have more money than I really do. Does anyone else just really like to pay their bills as soon as you get the statement instead of waiting until the due date?

2 comments:

Sarah said...

I am bad at that too - I always pay my bills when the statement comes in instead of waiting until the due date. Maybe you could pay the min now to get some satisfaction, then hold the rest off until the due date? With that amount of money you are looking at a dollar or two in earned interest - is it worth a dollar or two to you to pay it sooner?

QL girl said...

lol...I pay my bills throughout the month, just because I do get impatient and don't like to see balances when I sign in to my credit cards online.

I haven't really sat down and calculated how much I'd get in interest for holding off those payments though. For me its just easier to pay it weekly as I spend the money. If I see my balance creeping up its either my gas budget (which I pay at the end of the month), or I'm spending too much! I suppose it would depend how much money we're talking about, but I have no patience, so I'd rather not think about it. =]