January Part II/ February Part I

1 Feb

It’s time for the long-awaited January Part II post.  Since it’s February 1st, this entry is also the February Part I post.  I’m going to try to write this with a minimum amount of snark, but I’m not sure how that will turn out.  You see, I just got a letter from my car insurance company.

Let me begin by saying that I generally adore my car insurance company.  The insurance coverage is excellent, the road-side assistance program is great, the people are pleasant to deal with, and they are the sort who will call you the morning after an accident just to check on how you’re doing.  The company also happens to be my bank.  This makes things easier when paying my car insurance bill.

Which brings me back to the letter I just got.  It seems the company figured out that I’m no longer a student.  They also figured out that I was a bit of a drain on the company’s bank accounts in the last two years (Not my fault.  For more on that story, click [here]).  Therefore, the company has decided to raise my premium by just under $200.  This translates to a $16 a month increase.

That’s kind of a big deal to me.  There’s not a lot of wiggle room in my budget.  Most of my money goes to paying bills, and those recipients like it when they get their full amount.  If they get shorted, they send me poorly written letters expressing their dismay (An actual example from a collections agency last year: “Credit Comes from Character, Prompt Pay Maintains It.”  First of all, it’s “prompt payMENT.”  If you’re going to passive-aggressively threaten me, at least do it properly.  Second, is said payment maintaining my credit or my character? Be clear what’s at stake here.  And third, hey thanks for making me feel like scum because I’m broke after a CAR ACCIDENT.  That’s a great way to ensure I’ll send you a check.)

To get back on point here- that $16 a month has to come out of somewhere.  The only place I could find was the vacation fund contribution ($20 a month, give or take).  Sorry Harry Potter World- you’re going to have to wait until next year.  The first causality in belt-tightening is magic.  There’s poetic justice in there somewhere.

Ok, now for the fun part.

The January End Tally

$11,530.13 (amount owed at beginning of January)

+ $307.41 (accrued interest)

-$250 (January payment)

———

$11,587.54 (end of January balance)

Yep, that’s right.  My loan balance went up $57.41 this month, even though I sent $50 more than the minimum payment ($199.13, for those who are interested). Can we hear it for the evil genius that is compound interest??  What, no one here is a fan? Yeah, me neither.

As you know from my last entry, I fell a bit short on January’s payment.  The good news is, I was able to start February off with a bang.  A big one.

February Beginning Tally

$11,587.54 (beginning of February balance)

– $660 (initial February payment) (BOO-YAH!)

+ $??? (accrued interest)

– $??? (end of February payment, hopefully)

—————–

$??? (aka a balance under $11k, and one very happy blogger)

Stick around.  February has 29 days this year- anything could happen.  Oh, and while you’re here, go ahead and click Like, Share, Follow, or post a comment.  Thanks!

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One Response to “January Part II/ February Part I”

  1. ontario February 16, 2012 at 1:45 am #

    Thanks for the amazing article

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