I use an app on my phone to keep track of spending. I can name it if people are interested, but don't want this to come off as an advertisement. With this app I track a large number of accounts, checking accounts with 2 banks, 6 savings accounts, HSA account, and every one of my credit cards. This app doesn't connect to your accounts, it is basically a 'virtual check register,' so you have to manually enter transactions.It has cool features like repeating transactions which I use every pay period to 'budget' where my check goes. I was messing with the app earlier this week, specifically the filters. I ran a filter to view ALL payments from any accounts to the credit card accounts. At this point I basically had a heart attack.
My findings were, and this is just MY accounts, not my wifes, she manages those, we keep finances 100% separate. The total amount I have paid into credit cards, including 1 big purchase, $4500 mattress on a store card ,no interest on that one, paid it off) since July 1st of 2014, is JUST UNDER $63,000. YEOUTCH!!! That is what has been paid off, it isnt current debt. July 1st 2014 ALL of my loans and cards were 100% paid off. To add insult to injury, I am carrying about $9,000 in Credit card balance currently, $5,000ish of which was balance transferred to a 0% APR for 18 months deal, but still.
So far I have been good this week, no breakfast pr lunch fast food purchases for work, and really ready to sit down and get this shit taken care of.
TL:DR - Paid off $63,000 in credit debt in just under 3 years, racked up $9,000 once again. Cycle needs to END. Do yourselves a favor. If it has to go on credit, step back and ask "Do I REALLY need this?"
Submitted June 09, 2017 at 01:31PM by ZiggidyZ http://ift.tt/2r3BlwI
