Monthly Financial Update! (better late than never)

by jolyn on October 8, 2011

in Personal Finance Updates

Debt Balances as of the End of September 2011:

  1. *Credit Card Transfer: $93.40
  2. Vegas Rental Property:  $103,446.49
  3. Ohio Rental Property: $167,277.10

Total Debt: $270,816.99

This is a difference of -$10,380.62 owed since last month.

*The credit card transfer used to be our second mortgage for the Ohio rental. Back when the rental was still our primary residence.

Breakdown of Regular Payments:

  1. Credit Card Transfer: $0 due –> $9.999.99 paid
  2. Vegas Rental Mortgage: $647.00
  3. Ohio Rental Mortgage: $1641.58

Total Monthly Payments: $12,288.57

You May Have Noticed Something…

We are SO CLOSE to paying off the credit card slash second mortgage! In fact, if I’d had my act together, we would have paid if off completely and once and for all. However. I totally dropped the ball on the end of the original (12-month) balance transfer offer of 0% which expired in the middle of September and not at the end as I was kind of sort of thinking without actually digging up the original offer (because it couldn’t just be spelled out on the account details online) and confirming … and you guessed it.

Interest kicked in.

That would be the $93.40 up there. Uh-huh.

And not just any interest; they coded the transfer as a “cash advance” and not as a regular purchase. Zouchers.

So I called in to ask for a “courtesy reversal of interest fees” and neglected to remember that it’s just my husband’s name on this account and not mine (because I know how to sign into his stuff better than he does, I always belatedly remember these things actually matter to official financial types) so the guy wouldn’t/couldn’t help me even though I sweet-talked him with my nicest sugary voice and seriously I’m good at that, people and it almost worked so well that I felt bad for the guy when he came back on after “talking to his superiors” who reminded him how taboo it was to be speaking to someone about an account whose name was not on it and I assured the guy that if anyone ever asked me I would tell them he never mentioned a number or any other gosh-darned detail about the account that I hadn’t told him first. Poor thing, he was so nervous.

Then it took another two-three days before John could call in and I could sit there and wait to take the phone after he gave permission so that I could go over my pathetic I Dropped the Ball Story once again (because it usually works better if you acknowledge upfront that you screwed up and you’re asking them for a favor) (I hate that I know this) and I got half the charges waived. I really think I could have asked for a manager and raised a big stink and pretended to cry and maybe gotten the whole lot of it credited back, but a big part of me felt like this really was my fault and hadn’t I spent enough time and energy on it already.

This is why debt sucks, people: it saps away your very life force.

We were able to pay off our credit card/second mortgage debt because I slashed our emergency savings down to nothing ala Dave Ramsey style. The only reason we’d had that amount in savings to begin with — and hadn’t paid off this debt months ago — was because we moved this summer with all the expenses involved and I was waiting for the financial dust to settle. I just waited a few days too long, that’s all.

And now this Financial / Debt Update is way later than usual and I do hope you all have managed better than I in posting yours. If you posted an update on your blog, please add your link below! I do love to check in on you all, and I hope you all do the same with each other. Don’t forget that if you’re reading this via email to click on through to the site itself to view the links.

(And please remember to copy the url link to the actual post of your financial update — not just to the blog/website in general. Otherwise your link will be deleted!)

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{ 1 comment… read it below or add one }

Jerilyn October 12, 2011 at 5:28 pm

Wow!! I’m impressed.

[Reply]

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