Comments on: Do You Know How Much Interest You Are Paying Each Month? http://cashmoneylife.com/2009/10/30/how-much-interest-you-are-paying-each-month/ Money Management, Small Business, Career Sat, 20 Mar 2010 20:53:50 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Evan http://cashmoneylife.com/2009/10/30/how-much-interest-you-are-paying-each-month/comment-page-1/#comment-20247 Evan Mon, 02 Nov 2009 14:11:34 +0000 http://cashmoneylife.com/?p=1925#comment-20247 Jake, I used that same spreadsheet to create my debt snowball, however, that spreadsheet can't tell you the amount of interest you are paying on your mortgage or car loan(s)...only CCs Jake,

I used that same spreadsheet to create my debt snowball, however, that spreadsheet can’t tell you the amount of interest you are paying on your mortgage or car loan(s)…only CCs

]]> By: Jake Stichler http://cashmoneylife.com/2009/10/30/how-much-interest-you-are-paying-each-month/comment-page-1/#comment-20242 Jake Stichler Mon, 02 Nov 2009 08:06:11 +0000 http://cashmoneylife.com/?p=1925#comment-20242 Awesomely enough (or maybe not), the debt snowball spreadsheet I use from vertex42.com shows me exactly how much interest I pay every month, along with a spiffy graph that shows how my interest payments decrease as I progress through my snowball plan. All together, amongst my $58k of debt, I'm currently slightly over $140/mo in interest payments. It could be a heck of a lot worse (and was!). Awesomely enough (or maybe not), the debt snowball spreadsheet I use from vertex42.com shows me exactly how much interest I pay every month, along with a spiffy graph that shows how my interest payments decrease as I progress through my snowball plan.

All together, amongst my $58k of debt, I’m currently slightly over $140/mo in interest payments. It could be a heck of a lot worse (and was!).

]]> By: Broke M.B.A. http://cashmoneylife.com/2009/10/30/how-much-interest-you-are-paying-each-month/comment-page-1/#comment-20228 Broke M.B.A. Sat, 31 Oct 2009 13:41:47 +0000 http://cashmoneylife.com/?p=1925#comment-20228 What a great and simple exercise. Like a budget, when you sit down and finally take a good look at the numbers, the results can have a drastically positive influence for your financial life. What a great and simple exercise. Like a budget, when you sit down and finally take a good look at the numbers, the results can have a drastically positive influence for your financial life.

]]> By: Ken http://cashmoneylife.com/2009/10/30/how-much-interest-you-are-paying-each-month/comment-page-1/#comment-20226 Ken Sat, 31 Oct 2009 01:47:02 +0000 http://cashmoneylife.com/?p=1925#comment-20226 OK I'm a little scared to do this ananlysis but I'm sure it would be eye opening. I'll get back with you when I get the guts to do it. Great post! OK I’m a little scared to do this ananlysis but I’m sure it would be eye opening.
I’ll get back with you when I get the guts to do it.
Great post!

]]> By: Miss M http://cashmoneylife.com/2009/10/30/how-much-interest-you-are-paying-each-month/comment-page-1/#comment-20224 Miss M Fri, 30 Oct 2009 19:51:18 +0000 http://cashmoneylife.com/?p=1925#comment-20224 I only have a mortgage to worry about, but the interest on it alone is enough to give you a heart attack ~ $1500. I'd like to speed up the payoff, but it's rather daunting when your looking at a loan balance still well over $300,000. I only have a mortgage to worry about, but the interest on it alone is enough to give you a heart attack ~ $1500. I’d like to speed up the payoff, but it’s rather daunting when your looking at a loan balance still well over $300,000.

]]> By: Evan http://cashmoneylife.com/2009/10/30/how-much-interest-you-are-paying-each-month/comment-page-1/#comment-20222 Evan Fri, 30 Oct 2009 19:41:10 +0000 http://cashmoneylife.com/?p=1925#comment-20222 I happened to have a mortgage statement at work and pulled it out. In the Month of June I paid $1,123 in Interest and $135 in Principal UGH and that is just the mortgage debt! I happened to have a mortgage statement at work and pulled it out. In the Month of June I paid $1,123 in Interest and $135 in Principal UGH and that is just the mortgage debt!

]]> By: Matt Jabs http://cashmoneylife.com/2009/10/30/how-much-interest-you-are-paying-each-month/comment-page-1/#comment-20221 Matt Jabs Fri, 30 Oct 2009 19:29:45 +0000 http://cashmoneylife.com/?p=1925#comment-20221 Exactly... use the painful knowledge to your advantage. A lot of times we would just rather "not know" because it's easier. But the sooner we nail this down, the sooner we can turn it around. Do it man! :-) Exactly… use the painful knowledge to your advantage. A lot of times we would just rather “not know” because it’s easier. But the sooner we nail this down, the sooner we can turn it around.

Do it man! :-)

]]> By: Ryan http://cashmoneylife.com/2009/10/30/how-much-interest-you-are-paying-each-month/comment-page-1/#comment-20220 Ryan Fri, 30 Oct 2009 19:24:25 +0000 http://cashmoneylife.com/?p=1925#comment-20220 Evan, just use it as motivation to pay your debt off more quickly. :-) Evan, just use it as motivation to pay your debt off more quickly. :-)

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