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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: nebroots February budget Date:  1/24/2007  3:27 PM
Author:  nebroots Number:  246033 of 312136

Does your spending detail duplicate the expenses included in your credit card bills? If so, you may actually have more cash than you thought.

It does and it doesn't. On the discover, the 525 is last month's finance charge plus about 350 of groceries/gas we charged on it from Dec 19 to Jan 19. So, if we meet our goal of not using that card from Jan 19 to Feb 19, pay 500 again next month, that's paying the finance charge plus $350 debt reduction. Hooray!

On the WF though, the 227 is calculated the same way (finance charge plus last month's charges), but I know there will be about 100 of auto-charges put on that card associated with my contract work. I need to take ginko's advice and find a new card to use for the contract business, then deduct those expenses, plus some amount of withholding from my income before I start the family budget process. That last sentence shows me that I need to make a third goal for this month; increase my billables by some amount that my fuzzy math-mind has yet to determine.

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