Tuesday, April 14, 2009

Just how much money do I owe ?

I know a lot of you want to know the updated numbers of how much money I owe. So do I. Actually I know some numbers because I can go online on my Credomatic Cards and loan and get the updated number right away.
However for my Promerica, HSBC and Citibank cards I don't have that ability. Signing up for it is such a hassle for cards that I'm planning on giving up after paying that I just stick with the monthly statement.
On all of those cards on each payment some money goes to interest and some goes to capital. Each money it varies.
If you see at the bottom of my blog there is a test slider that could help keep track of a debt payment. However it's difficult to use if you don't know how much of the payment went to actually lowering the debt. However I think one can input the new balance and have the slider figure out where it should go.
SO, How do you think I should keep track of my debt:
- One big number for all the money I owe
- Numerically stating the dollar or lempira balance on each card.
- Slider for all the money I owe
- Individual sliders for each card
Where should I put the value ? should I put it on a post or on a side bar ? at the top or at the bottom ?
I appreciate the creativity of your comments so I figure it was good to know how you wanted to see how much I owe.
your advice, although free, is priceless.


Cindy in California said...

I would like to see the individual balances instead of one large balance. This way, if you are using the snowball approach, we can see the one balance decreasing (hopefully) rapidly and over time will see as each one is paid off.

I do not have a preference one way or another about using sliders. I know what they are but I just want to see the numbers. They may be motivational for you so I have no objection to them.

I like to see the balances on the side instead of scrolling all the way to the bottom.

Mostly, I just like you posting about your struggles, watching your progress, cheering you one and being a sounding board.

Keep up the great work!

Jacinta Mucosa said...

I also agree with the individual balances.

Also, not sure if this website will work for your situation, but it is helpful: www.mint.com