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Mid-Month Ramblings

February 15th, 2012 at 02:05 pm

It seems as if when I run out of financial things to blog about, I list a bunch of my personal financial calculations. I've run out of things to blog about, so here goes...

Daily interest for the month of February:

First a couple of caveats -

I was comparing my Nov. daily interest to my Jan. daily interest. I was patting myself on the back for reducing daily interest by what seemed quite a bit. Then I realized that Nov. is a 30 day month and Jan. is a 31 day month. That extra day makes quite a difference. A month like Feb., even with the leap day would be even more over stated. So, I'' make my calculation using 30.4 days, the average number of days in a month. Makes for a better month-to-month comparison.

Also, I've transferred the balance of CC4 to a 0.0% card, but the transfer didn't happen fast enough, and I was charged interest in Feb. So my totals will reflect that.

Drum roll, please.

For the month of February I will spend each day:

$2.99 on credit card interest
$3.67 on above plus auto loan interest
$21.45 on above plus mortgage interest

Another calculation. In August I calculated my credit card balance to retirement savings ratio. At that time it was 20%. That is for every dollar I had saved toward retirement, I had $0.20 in credit card debt. My current ratio is 10.47%. It's been cut almost in half since August! Of course, I heard on the radio that Jan. 2012 was the best month the stock market has had since 1997.

That's it for no. If you've made it this far, thanks for reading.

6 Responses to “Mid-Month Ramblings”

  1. creditcardfree Says:
    1329320847

    I like your calculations!! Keep blogging.

  2. PauletteGoddard Says:
    1329322377

    Funnily enough, I was doing my debt interest calculations on the back of a 3"x5" card (I don't bring cocktail napkins to bed) this morning, averaging out how much daily interest went out, before I logged on here. It's great you're saving for retirement! We Saving Advice debt bloggers could have an "It Gets Better" tag for comparing our interest outgo at regular intervals...

  3. LuckyRobin Says:
    1329354013

    How are things going with the tax mess over the baby you adopted? Is that straightened out yet?

  4. Bob B. Says:
    1329400573

    Luck Robin - No, not yet. We endedup filing without claiming him. We have our refund back. Now we're going to file an amendmended return. Should go out in the mail tomorrow. We've heard that it might get ironed out in as little as two months after filing the amended return.

  5. LuckyRobin Says:
    1329410950

    I hope it doesn't take too long. I also hope whoever it was who claimed him illegally gets a fine or something. That kind of shadiness really bugs me. They had to know what they were doing was wrong.

  6. Bob B. Says:
    1329418152

    Yes, I fully agree that whover did it knew that what they were doing was wrong. We have identified 5 or 6 possible people who could have claimed him, and my list of "most likelies" is 2 or 3.

    The one thing that bothers me most is that all of these individuals are desperatley poor. Yes, due to decisions they have made, but desperately poor none the less. And yes, a lot of them have had brushes with the law (or just plain incarceration) in the past too.

    I guess it's just a cycle that continues and continues. Our whole objective has been to deliver this boy out of that cycle.

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