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Savings accounts

April 9th, 2007 at 03:52 pm

Well I had mentioned in the past about how we had some savings accounts scattered here and there with anywhere from $75 to $450 in them. I was able to close two over the weekend and both banks are mailing us checks for the balances which we will be putting into the checking account to pay off more debt. We ended up wiht an additional $250 from those two accounts and today we are going to a third bank that we have another savings account (with $450 in it) so we'll be able to use that to pay down more debt as well. It just doesn't make sense to me to carry balances on credit cards and give these lenders interest when we have the means and ability to continue to chop away at that debt.

We are waiting on Fedex to deliver some money for the company today and we should be seeing that tax return $ in the next day or two. $6820 will go a long way to paying down even more debt. The sooner the better!

Oh and another closed card decided to hit us with a final interest charge of $120 which I promptly paid. I will probably have one or two more of these before it's all said and done since we paid them off before the statements closed. Ah it's good to know those interest charges are history (especially on that card...one of the 18 percent cards).

FYI we did close the other savings and they gave us the cash at the bank ($420) and I gave the wife our $300 refill for this week and will be depositing the $120 into our checking account. This way she's got the cash to last until payday (9 days from today) and I can just use the tax money to attack more debt. That saves us a $300 withdrawal on Weds. Hopefully planning ahead works out!

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