Here’s a partial look at the list of debts that I’ll be applying Snowball payments to. It seems that compiling a list of debts (using whatever format or method you find most useful) is a common practice among those of us trying to turn our personal financial situation around. I know for me, it makes frivolous spending and credit card useage much more difficult when I’ve got an overview of my poor financial situation at my fingertips.
Many sheets that you can download online will also help calculate the amount you’re paying in interest every month. Despite the balance transfer fee of $150, I recently shifted $9500 in credit card debt into my CitiBank account at 1.99% APR until 12/10. I think over the course of a year I’ll still come out ahead based on the monthly interest I was paying on this debt with my higher interest rate cards.