i normally don't carry a balance... (that's just giving money away..) but when there is interest it goes into the 'interest paid' bucket... mortgage interest has its own bucket (since its tax deductible). any charges the credit card bills me (annual fee etc) go in to bank charges bucket. i use a credit card that pays extra money on my mortgage (in lieu of points or cash back) - so far its made 3 extra payments for me -- so i use it for everything and pay it off right away (as this is all normal stuff like groceries and their for in the spending plan).
ml On Jun 10, 9:37 pm, Kevin Hoctor <ke...@nothirst.com> wrote: > Karen, > > I just pay a flat amount each month to eliminate my credit card debt. > If you carry a balance, it's nearly impossible to separate principal > from interest because interest is charged on interest. > > I don't use my cards anymore so all I care about is paying it off. > > Peace, > > Kevin Hoctor > No Thirst Software LLChttp://nothirst.com > > Sent from my iPhone > > On Jun 10, 2009, at 2:45 PM, Karen <kar...@gmail.com> wrote: > > > > > Kevin, this may be an insanely stupid question but why wouldn't credit > > card > > interest affect your cash flow? Where does the interest money come > > from > > in the end? > > > Karen > > On 10-Jun-09, at 2:11 PM, Kevin Hoctor wrote: > > >> On Jun 9, 2009, at 2:59 PM, Dave wrote: > > >>> Hello! I am wondering what everyone does for their finance charges. > >>> Do > >>> you put them in a bucket or not? Technically, you wouldn't have to > >>> b/c > >>> you are paying the charge and the payment at the same time. But I > >>> could see the other side too. > > >>> What is the gist? > > >> Dave, > > >> I assign bank charges to a Bank Charges bucket but not credit card > >> interest charges because they don't affect my cash flow. > > >> Peace, > > >> Kevin Hoctor > >> ke...@nothirst.com > >> No Thirst Software LLC > >>http://nothirst.com > >>http://kevinhoctor.blogspot.com --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "No Thirst Software User Forum" group. To post to this group, send email to no-thirst-software@googlegroups.com To unsubscribe from this group, send email to no-thirst-software+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~----------~----~----~----~------~----~------~--~---
