Day 49: Figured it out, I think

I think I've figured out the discrepancy in the Average Daily Balance and the payoff amount. All of these purchases are on interest deferred payment plans. Although we're not paying interest, and won't as long as the balances are paid off in a timely fashion, however, the interest is still accruing and is being included in the average daily balance.

I already intended to pay off these purchases before the payment period expired, however realizing that I'm accruing interest on top of interest on top of interest that is deferred has ensured that I will NOT pay these off late. I might even make sure I pay each of these off a month early so there is no way they can charge me the deferred interest.

We keep talking about having a garage sale to clear out our house and make a little money. I think it's time to stop talking and just do it. As long as our minimum payments stay as high as they are, we're never going to get out from under these credit cards. We'll make progress one month, and then as soon as something pops up, we'll be back under again.

I'm having a hard time getting my husband to stick to this too. He texted me yesterday and asked if it was ok to buy $30 worth of books. I felt like saying, "Well honey, we paid our cable bill late and I've got a medical bill in collections. Do you think it's a good time to spend $30 on books?" Instead, I just responded with, "It's probably not the best time."

He wants to crack down on things that are fairly insignificant, like buying necessities at Aldi, but doesn't want to cut the biggest money wasters, like his smoking, or buying books. This past weekend he wanted to go shopping for clothes for the kids because he wanted to get out of the house. We still have a few months until we have to worry about buying winter clothes, or at least one month. My point is, it's not a necessity.

I've cut down on little things too, but it doesn't seem to matter. For example, I used to stop and get breakfast every day at McDonalds on my way to work, easily $5.50 a pop, and then I'd go out for lunch at $8.00+ a day. Now, I stop in the morning and get a parfait and a Diet Coke ($2.08), and I bring a Lean Cuisine for lunch ($1.98) for a savings of $9.44 per day. Multiply that by five days a week and I'm saving us nearly $50 a week on food alone, or about $200 a month. Our grocery bill is a little higher, but not $200 a month higher.

My husband should get his bonus from work next month. That will help, to be able to dump $500 into one of our credit cards. It will at least bring the minimum payment down a bit.