|Ron (in Spokane) is a DebtSmartŪ Email Newsletter reader.
Thanks for your most recent newsletter article,
Penny Counts. I am also of the mind that every penny does count, and
that leads me to responding today. Since buying and reading your books, I've
tightened my finances back up and have a plan to get my cards paid off once
I've had credit cards since 1990 and never paid
interest until 2005, when I decided to become self-employed. The credit card
debt soon mounted. To say the least, I got in over my head and have since gone
back to work elsewhere while keeping my business on the side by working out of
Now that I'm getting my debt paid down, I have a
penny-pinching credit card paying secret that I haven't seen yet in your books
or newsletters yet. We all know not to wait until the last minute to pay our
credit card bills, because they accrue interest over that period, right? Instead
of waiting to get my statements in the mail, I make my payments as soon as the
new statements post online, usually a few days before I receive a printed
I suppose I could just do the online billing, but
I like the paper statements to keep with my paper receipts for the month for
ease of filing. Also, I don't like to set up automatic payments because
sometimes they don't fit my budget/schedule.
I figure at 17% interest on a $5000 credit card
balance, I'm saving myself a few dollars in interest by making the payment early,
and it doesn't cost me anything extra to do it!
Thanks for your books, newsletter, and website. I
hope the holidays were kind to your credit cards!
Ron (in Spokane)