Tuesday, October 24, 2006

Thank you to 3 Things About Money...

For the idea to pay Ms. Sallie on a weekly basis with small payments versus the one big payment each month. The interest is no longer accumulating, and for each payment a larger bulk goes to principal. I am now seeing the principal balance go down versus up.

Once again, thank you 3 things about money.

4 comments:

NegroPino™ said...

SO u actually save more by paying weekly than monthly?

Save Sheila said...

Good for you!!

Tired of being broke said...

Negropino the interest is added on daily. So with the weekly payments the principal balance comes down faster leaving a lesser amount for them to apply the daily interest to.
Plus with my 25 to 40 per week it adds up to more than there 86 per month payment.

Sheila it makes me feel better knowing am making some progress.

3 Things About Money said...

Thank you so much for the shout out! Your blog inspires me always, I am a daily reader. Anyway, thanks.