by Tricia
It will take me 27 years and 8 months to pay off my credit cards if I only pay the minimum payments.
Oh my….
That means I would be 56 years old before my credit cards are paid off!!!
Going further with that scenario, I will pay $26,024.44 in interest if I only pay the minimum.
That’s not funny, it’s pretty darn serious. And it is adding more fuel to the fire to become debt-free!
Need some motivation? Get your credit card balances, interest rates and minimum payments ready and use the calculator at CNNMoney.com Debt Planner.
WOW!! That’s a long time. I’ve heard that before. I try to send $10 every week to the credit card company after I’ve made the monthly payment. I always send more then the monthly payment. I’m gonna get this darn thing paid off if it kills me.
I think I will head over to Dinkytown and input the numbers tomorrow for my student loans. Then I am going to post the time it will take to pay those suckers off on my fridge. =)
Super attitudes! Let’s pick off these debts one by one 🙂
Super attitudes! Let’s pick off these debts one by one 🙂