Comments on: How Much Our Debt Costs – February 2010 http://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/ Debt Credit & Personal Finance | Bible Help Wed, 08 Sep 2010 06:02:49 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Time to win an iTouch and do some link love!http://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8553 Time to win an iTouch and do some link love! Fri, 12 Mar 2010 09:03:59 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8553 [...] How Much our Debt Cost @ Debt Free Adventure [...] [...] How Much our Debt Cost @ Debt Free Adventure [...]

]]> By: CompleteTax Giveaway Winnershttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8393 CompleteTax Giveaway Winners Sun, 07 Mar 2010 20:26:25 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8393 [...] How Much Our Debt Costs – February 2010. [...] [...] How Much Our Debt Costs – February 2010. [...]

]]> By: Matt Jabshttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8134 Matt Jabs Tue, 02 Mar 2010 08:55:58 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8134 Yep, as soon as LC is paid off our next debt snowball victim will be our 2nd mortgage, which has an 8.8% interest rate. Yep, as soon as LC is paid off our next debt snowball victim will be our 2nd mortgage, which has an 8.8% interest rate.

]]> By: Matt Jabshttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8133 Matt Jabs Tue, 02 Mar 2010 08:54:48 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8133 That is why it is always a good idea to audit your behavior, just as we audit our finances. That is why it is always a good idea to audit your behavior, just as we audit our finances.

]]> By: Matt Jabshttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8132 Matt Jabs Tue, 02 Mar 2010 08:53:50 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8132 I know... we are so pumped, and at least it is $5 less every day than this time last year. I know… we are so pumped, and at least it is $5 less every day than this time last year.

]]> By: Matt Jabshttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8131 Matt Jabs Tue, 02 Mar 2010 08:53:16 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8131 What about your mortgage? If you applied the same progress toward it as you did toward your other debt, you would own your home in just a few years! What about your mortgage? If you applied the same progress toward it as you did toward your other debt, you would own your home in just a few years!

]]> By: Matt Jabshttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8130 Matt Jabs Tue, 02 Mar 2010 08:52:22 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8130 I just smiled. Thanks! :-) I just smiled. Thanks! :-)

]]> By: Matt Jabshttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8129 Matt Jabs Tue, 02 Mar 2010 08:51:46 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8129 That is a great point Erica... definitely worthy of its own blog post! Even better would be an article listing ideas to make saving money just as motivating/attractive as repaying debt. That is a great point Erica… definitely worthy of its own blog post! Even better would be an article listing ideas to make saving money just as motivating/attractive as repaying debt.

]]> By: Matt Jabshttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8128 Matt Jabs Tue, 02 Mar 2010 08:50:25 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8128 Thanks Mr. CC... my wife and I are so excited! We're going to celebrate by taking a one month break from total sacrifice and install a new "life management station" in our home. Thanks Mr. CC… my wife and I are so excited! We’re going to celebrate by taking a one month break from total sacrifice and install a new “life management station” in our home.

]]> By: RainyDaySaverhttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8123 RainyDaySaver Tue, 02 Mar 2010 02:56:35 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8123 Congrats on kicking debt's butt! We're almost done with our consumer debt, and then moving on to the mortgage -- it's slow and tedious sometimes, but it eventually will be all worthwhile. Congrats on kicking debt’s butt! We’re almost done with our consumer debt, and then moving on to the mortgage — it’s slow and tedious sometimes, but it eventually will be all worthwhile.

]]> By: Jizzohttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8114 Jizzo Mon, 01 Mar 2010 23:49:43 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8114 This really illustrates a good principle in ridding ourselves of anything. It must continually make us sick to our stomach. Otherwise, we will not stay the course. The benefits of the behavior (IE spending money we don't have/ the euphoria of getting STUFF) must not outweigh the consequences (debt, sick to stomach realizing what we pay in interest alone each month)I see that applying to almost anything.Ie. Smoking- rotting your lungs, killing others with your secondhand smoke must be more offensive to you than the nicotene, hand to mouth sensation etc. This really illustrates a good principle in ridding ourselves of anything. It must continually make us sick to our stomach. Otherwise, we will not stay the course. The benefits of the behavior (IE spending money we don’t have/ the euphoria of getting STUFF) must not outweigh the consequences (debt, sick to stomach realizing what we pay in interest alone each month)

I see that applying to almost anything.

Ie. Smoking- rotting your lungs, killing others with your secondhand smoke must be more offensive to you than the nicotene, hand to mouth sensation etc.

]]> By: Mrs. Moneyhttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8113 Mrs. Money Mon, 01 Mar 2010 23:20:26 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8113 Man that makes me sad about how much you are spending per day. BUT I am so proud of you that you are going to have Lending Club paid off next month! YAY! Man that makes me sad about how much you are spending per day. BUT I am so proud of you that you are going to have Lending Club paid off next month! YAY!

]]> By: Paul @ FiscalGeekhttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8106 Paul @ FiscalGeek Mon, 01 Mar 2010 20:31:33 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8106 Blast it buddy, that's some solid work. I have to agree with Erica, it felt like a full on frontal assault on our debt and the emergency fund savings is kind of like a nerf gun fight with my boys. It's happening but I can't really be angry at my savings. Blast it buddy, that’s some solid work. I have to agree with Erica, it felt like a full on frontal assault on our debt and the emergency fund savings is kind of like a nerf gun fight with my boys. It’s happening but I can’t really be angry at my savings.

]]> By: Monevatorhttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8103 Monevator Mon, 01 Mar 2010 17:31:05 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8103 Good progress Matt. Really interesting idea to look at it on a cost/day basis.Regarding what $5 a day is worth, another way to show the value of this achievement is to consider what sum of money you'd need to have in a bank account to generate the same amount in passive income.Assuming an interest rate of 3%, for example, you need to have about $60,000 in cash savings to earn $5 in interest a day.Hope that puts a smile on your face! :) Good progress Matt. Really interesting idea to look at it on a cost/day basis.

Regarding what $5 a day is worth, another way to show the value of this achievement is to consider what sum of money you’d need to have in a bank account to generate the same amount in passive income.

Assuming an interest rate of 3%, for example, you need to have about $60,000 in cash savings to earn $5 in interest a day.

Hope that puts a smile on your face! :)

]]> By: Erica Douglasshttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8102 Erica Douglass Mon, 01 Mar 2010 17:26:07 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8102 I am debt-free and an investor in Lending Club, so I guess you could say other people's debt earns me money every month...BUT I have to say that it is far more empowering to pay off debt than it is to put that same amount of money in a savings account every month. Some sort of weird human psychology, I think.-Erica I am debt-free and an investor in Lending Club, so I guess you could say other people’s debt earns me money every month…

BUT I have to say that it is far more empowering to pay off debt than it is to put that same amount of money in a savings account every month. Some sort of weird human psychology, I think.

-Erica

]]> By: Mr Credit Cardhttp://www.debtfreeadventure.com/how-much-our-debt-costs-%e2%80%93-february-2010/#comment-8101 Mr Credit Card Mon, 01 Mar 2010 17:20:10 +0000 http://www.debtfreeadventure.com/?p=5460#comment-8101 congrats on your lending club debt (soon to disappear). keep it up. congrats on your lending club debt (soon to disappear). keep it up.

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