Recently, I started to fret about Bills. I had already gone Bankrupt once and didn’t want it to happen again. My husband had been doing the bills but didn’t understand why I was worrying. I don’t know if any man or woman that doesn’t already save Money truly understands that Credit Cards are not Savings Accounts. The Interest alone kills any money you may have extra. So here I am going over our situation I turn to my husband and go “Do you not understand that if something were to happen to me you would have no money?” and He turns to me and Says ,”I have my Credit Cards We will be fine.” I just look at him Sadly pitty poring out. No he doesn’t understand even though I tried to explain he thinks he is right and I am wrong.
So I am going to try to explain what I can here and hope others understand. Credit Cards are a bane of our very existence we become slaves to paying off bills we can’t afford. So I will give an example:
Credit Care Say Walmart interest rate 27.00% with a balance of $2000. Minimum payments of $50.00. Without the interest it would take a little over 3 years to pay off. With the interest rate it would take eight years because you are paying 2768.30 for the interest fees. So on top of the $2000 you have to add $2768.30 which equals $4768.30. I would rather not have that extra money going out. Of course this is just a hypothetical Credit card.
I figured this out by using the Trees full of money Excel Debt Snow Ball . This is a usefull excel spreadsheet. I also made up a few sheets of my own for your use. I hope you like and are able to use.Bi Monthly Budget Blank. I Can make up others for you all if you request it.