So, today I decided to add up the interest we paid last month on our credit cards. It totaled $558.63! Five hundred, fifty eight dollars and sixty three cents. I'm a little sick to my stomach thinking about it. That's more than the monthly payments for both our brand new car and insurance. Throw in some gas and maybe we would get up that high! That's almost the cost we paid for my portion of our one week all inclusive honeymoon at an ocean-front Mexican resort. Jeepers!
Over one year, this would be $6,703.56. Wowzer! I know we can't pay this debt down in just one year, so it could be multiple years at this rate. Agggghhhhhhh! Okay, enough already. I need to stop.
What I need to do is really make progress this year at paying our debt down! I'm going to try to turn what I first thought of as frustrating, into motivation. Perhaps I'll put post-its around with the daily interest number on them (roughly $18.62), as a reminder of what we're paying. Maybe the next time we think about ordering a pizza or going out to dinner or something, we'll think about this number. I just had a funny thought, have you ever seen past marathon runners who get 26.2 tattooed on their legs... well, 18.62 may be my number! This whole get out of debt journey kinda feels like a marathon to me :)