Friday, February 29, 2008

Interest is almost 50%!!!

Okay, so I'm so angry. I hate interest. Really, I mean it. I sent a small $55 extra payment to my auto loan finance company. I was really excited because I figured since this was my second extra payment most of it would go to principal. Boy, am I dumb! Only $29.08 was applied to my principal The other $25.92 was sucked up in interest. That's kind of disheartening.

I just started my March budget and I found $40.41 extra to send to them. I sent that off and we'll see how much gets applied to my principal. I'm sure I'll be posting another "whoa is me" post about that in a few days. :)

On the bright side, I think my next statement should show $0 due in March. That means I'm one complete payment ahead. Yay!

Later I will post my total for my February Money Games.


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