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January Daily Interest

January 18th, 2012 at 07:22 pm

For the month of January I will spend each day -

$2.48 on credit card interest

$3.16 on credit card plus auto payment interest

$20.65 on credit card plus auto payment plus mortgage interest.

I've been calculating these values for, I beleive three months now. My jaw still drops each time I calculate them.

Posted in Credit Cards, Debt | 2 Comments »

2 Responses to “January Daily Interest”

  1. Momma23 Says:
    January 18th, 2012 at 07:31 pm 1326915062
    1326915062

    Haha, you made me check. We spend $9.70/day on mortgage interest. Never thought to think of mortgage interest on a daily basis. That motivates me even more to pay the house off early. We already pay two extra principle payments per month, but will strive for more now...

  2. patientsaver Says:
    January 19th, 2012 at 02:40 am 1326940849
    1326940849

    I have a very low mortgage balance ($9,000 or so) and if I'm reading my amortization table correctly, I'm paying just $1.80 a day on interest, or $54 a month now.

    That IS an interesting to look at it.

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