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January Daily Interest

January 18th, 2012 at 11:22 am

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.

2 Responses to “January Daily Interest”

  1. Momma23 Says:

    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:

    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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