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Wednesday is almost over

October 8th, 2008 at 06:27 pm

The day almost slipped by and it almost seemed as if I would not be able to tell you all what exactly I did. It wasn't exactly the most exciting day of the week, but I felt like I accomplished quite a bit.
First of all, I did manage to have a very productive day during work. My work varies throughout the week, but still manage to work only during my 9 to 5 hours on weekdays.

I work as a real estate paralegal. I handle pretty much everything in a purchase or refinance transaction. I did want to mention that today, I really felt I made great progress in clearing up my desk. The work never seems to end.

Anyhow, my day went well. I schedule closing, prepare the closing documents, draft up the loan policies, and while I enjoy researching discharges, there can be at times frustrating and a challenge.

As for the rest of the day, I went down to the local laundromat with my wife to take care of our laundry. There isn't anyone in the work that doesn't need to get their clothes washed on occasion.

By the way, to the left, you will see the great challenges that I am currently facing. Two credit cards with the accumulated debt of about $19,000.00.

I have gradually been paying this off and so far, the current balances are indicated. Its a challenge to be in a hole while trying to keep up with my daily expenditures.

I wish I made more money. (But as many of you may have already realized, more money doesn't necessarily mean less debt.) It has been shown that as we get increases, we then to overshoot when we spend, and hence aren't anywhere better than we were before.

In my case, I was not careless. (Well 50/50). The first half of my debt (1 credit card- debt of $10,000.00- was a bad decision- perhaps one day I will go into it and explain.)
The other has a perfectly good explanation. One worth the challenge.

I may have mentioned it in passing, but I got married recently, MAY 08.

I needed to finance my own weeding and did just that. On the one hand, I got the almost perfect wedding that my wife and I wanted. On the other, there's debt.

My goals are to be debt free within three years. It's a little aggressive and haven't made much movement, but I need to set a goal and will aim for the one just stated.

For those of you that may be in shock about 19K in credit card debt, and wondering what I pay in interest. I have a pretty good deal actually.

My first credit card has an interest rate of 4.99% until I pay the balance off in full. *By the way, I will not be using this credit card any time soon, otherwise charges at a higher rate will kick in. I believe I spend about $45 in interest each month, with an average payment of about 150 being the minimum due.

On the other card, I have the same interest rate of 4.99%, but it is only good through Jan 2009.

I will have to either pay it off very very quickly, or move the money to another card (make a transfer).

I wouldn't recomend transfer unless there is absolute no fee for doing so.
Credit card companies get you with the transfer fees.
Sometimes they are about 3% with a maximum fee. But recently, I have noticed most credit cards have eliminated their maximum fee. Now you will pay 3% regardless of the amount of the transfer.

Sometimes its just not worth the effort.
Remember that the transfer fee is due the following month of the transfer. Its is charged as interest due.

Well I hope you all learned something today.

Time for bed, I will continue with this later....

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