My Financial Meltdown... and my journey to financial freedom

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DoingHomework
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Re: My Financial Meltdown... and my journey to financial fre

Postby DoingHomework » Mon Jan 03, 2011 5:51 pm

peachy wrote:What's this 15 bill pay limit thing you're talking about? It doesn't sound right. Can you pay your bills online, and that won't count? Are you talking about writing 15 checks? I've never heard of such a thing. Who charges you to pay your bills?

Lots of banks used to do this until they figured out people did not want to pay for that. It seems unusual now though.

I used to make regular online transfers from my main bank to another bank. My bank decided to charge a whopping $3 for that (like an ATM fee) so I just started initiating the transfers from the other bank! No fee for that.

As for the 15 limit, lots of banks have a low limit on checks or things that are not electronic. But it seems very unusual to apply it to electronic transfers. I think they are just being greedy.

N2Deep
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Re: My Financial Meltdown... and my journey to financial fre

Postby N2Deep » Mon Jan 03, 2011 6:50 pm

they probably are, and it could be because I have a free checking and they are trying to make up for that. As it stands I have 14 normal bills to pay so I can just make one large debt reduction payment per month which brings me up to 15. Or if I get lucky I can just make that reduction payment with the normal one. That's what I did for the Jan bill. I sent them $175 instead of the min payment required.

Once I get that $1211 paid off... that will be one less bill to pay and I could then make a debt reduction payment with each paycheck and still not go over.
I can not dwell over that to which I have no control...

peachy
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Re: My Financial Meltdown... and my journey to financial fre

Postby peachy » Tue Jan 04, 2011 5:12 am

You're probably right about making up for the free checking and the high interest rate. I hadn't heard of that scheme before.

Good plan of attack. The only thing you should watch for is to make sure they're applying your extra funds to the principle. You may have to call the credit company and let them know that that is what you want to do if ever you have extra (which you will), so they don't rip you off and apply it to accumulated interest over the month and then use the rest for principle.

fantasma
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Re: My Financial Meltdown... and my journey to financial fre

Postby fantasma » Tue Jan 04, 2011 5:34 am

Is this a credit union or a "big" bank? Geezzzz! :swear:
Be what you want to attract.

N2Deep
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Re: My Financial Meltdown... and my journey to financial fre

Postby N2Deep » Tue Feb 08, 2011 10:04 pm

Im not really happy with myself right now....but for reasons you wouldnt imagine.

I have some things that I need to buy... I have the money slated for it... and I cant make myself purchase it.

I've got some things that I want to buy... and its the same story. Before I was spending like it was going out of style... and now I still haven't bought the things I actually set money back for.

:@

It's either one extreme or the other.... I want a happy middle.

**new's casters voice**

In other news.... I have been keeping with my goal of dumping an extra $150 a month on debt.
I can not dwell over that to which I have no control...

suzwantstobefree
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Re: My Financial Meltdown... and my journey to financial fre

Postby suzwantstobefree » Wed Feb 09, 2011 4:18 am

N2Deep,

I understand what you mean about not wanting to buy things even when you have the money set aside. I go through that too - sometimes I think it is good and other times I worry about restricting myself too much and then going overboard when I do buy stuff. Life cannot be just about paying off our bills.

fantasma
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Re: My Financial Meltdown... and my journey to financial fre

Postby fantasma » Thu Feb 10, 2011 10:06 am

N2Deep wrote:Im not really happy with myself right now....but for reasons you wouldnt imagine.

I have some things that I need to buy... I have the money slated for it... and I cant make myself purchase it.

I've got some things that I want to buy... and its the same story. Before I was spending like it was going out of style... and now I still haven't bought the things I actually set money back for.

:@

It's either one extreme or the other.... I want a happy middle.

**new's casters voice**

In other news.... I have been keeping with my goal of dumping an extra $150 a month on debt.

Middle of the road is hard to get to and stay in...your doing grrrreeeaaat!
Be what you want to attract.


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