I just checked an email that said “Your Credit Card or Loan Statement is Available.” Woo hoo! What a great way to start the day!
So I look at the balance and expected it to be less than it is. I’m like, “I just paid more than the minimum. Why did the balance only go down $40?” So I open the statement and read that I was charged $30+ interest on previous charges. I must remind myself that a huge chunk of my monthly payment is going to interest. And that really burns my beans, chaps my hide, etc.
In 2014, I’ve been charged nearly $350 in interest. Ugh! I knew credit card interest sucked, but reading the fine print in statements reinforces its suck-iness.
If this isn’t motivation to pay off my credit cards AND less interest, then I don’t know what is. The pros and cons of interest really should be taught in homes and high schools across America. It’s not a game!