Reverend Conehead
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Kinda dry topic, I know. I won't be traveling back in time or putting some voodoo curse on Amber Heard, but I don't know that much about finance, so here's my question.
I've been paying down a credit card with each paycheck. I get paid every two weeks, so every 2 weeks, more gets paid down. Of course, the billing cycle is every month, not every two weeks. I'm just trying to really keep on this. I want the debt killed off ASAP. So the first payment more than takes care of the minimum payment, and the second payment pays down even more. Could that second payment kill off the next minimum payment? Or does it just pay more of the debt down this billing cycle, and you can't do anything about the next minimum payment until you're actually in that billing cycle? Make sense? I think it's the latter, but I'm not sure.
My strategy is to always pay way more than the minimum, if at all possible. I want to pay as much down as I can without suddenly making me unable to afford my normal expenses. I went for years without any credit card debt because I didn't have any credit cards. I want it all GONE! You hear about people with so much stinking credit card debt that they can't even afford their minimum payment. I'm determined not to let that be me.
I've put payment reminders in my Google calendar just in case a bill gets lost in the mail, I'll still know when it's due, and so I'll log in to pay it. Not gonna let this bite me in the butt like so many people do.
I've been paying down a credit card with each paycheck. I get paid every two weeks, so every 2 weeks, more gets paid down. Of course, the billing cycle is every month, not every two weeks. I'm just trying to really keep on this. I want the debt killed off ASAP. So the first payment more than takes care of the minimum payment, and the second payment pays down even more. Could that second payment kill off the next minimum payment? Or does it just pay more of the debt down this billing cycle, and you can't do anything about the next minimum payment until you're actually in that billing cycle? Make sense? I think it's the latter, but I'm not sure.
My strategy is to always pay way more than the minimum, if at all possible. I want to pay as much down as I can without suddenly making me unable to afford my normal expenses. I went for years without any credit card debt because I didn't have any credit cards. I want it all GONE! You hear about people with so much stinking credit card debt that they can't even afford their minimum payment. I'm determined not to let that be me.
I've put payment reminders in my Google calendar just in case a bill gets lost in the mail, I'll still know when it's due, and so I'll log in to pay it. Not gonna let this bite me in the butt like so many people do.