I’ve Paid For This Twice Already…

Tell All Tuesday ~ The Verdict

Last week, I put up a poll for which debt my Revolution Money Exchange referral bonus should go to, and throughout the week, readers voted. With just over 50% of the vote, my spouse’s student loan (our highest interest debt) won, and this morning, I made a $645 payment to that loan ($525 in RME bonuses and $120 in other money I had saved in the student loan payoff account). Thanks for voting! Coupled with making a car payment last week, this is how the numbers look as of today:

• Debt at start of blog (6/19/07) : $36,451.71
  Current total as of 04/22/08: $22,729.06
  Principal paid to date: $13,722.65
  Broken down into:
  • • Credit Card: PAID OFF 2/7/08
    • Student loan (at 7%): $11,467.76
    • Spouse student loan (at 9%): $8781.03
    • Car loan (at 4%): $2480.27
• % of original debt paid off from NCN Network Chart: 37.65% (last week 35.38%)

Everything is trending steadily downwards! If you missed out on getting a $25 bonus from Revolution Money Exchange and you wanted to, don’t despair - RME extended their bonus period to May 15th! My spouse has decided he wants in on the action (I think he thinks the readers would choose for his bonus to go towards a Playstation 3 instead of towards debt… hah hah). So I have my spouse’s referral banner up, and May 15th I’ll post how much he earned and a poll to decide if he gets to put more towards his PS3 or he pays off more of our debt. I’m guessing debt. We’ll see. Revolution Money Exchange is like PayPal in that it is a person to person money transfer service - it has drawbacks (like the money needs to be in your RME account, no direct debit or credit transfers) but there are no fees for transactions which is an improvement over paypal for me. They are offering a $25 bonus for opening an account (your referrer gets $10 as well), and you can sign up by clicking the banner below:

Again, no pressure from me to sign up if you’re not interested or don’t want to open another account - but if you are interested, feel free to use my spouse’s referral. I’ve used it once for a person to person transfer, as well as transferred money to my bank account three times from the RME account, and I am going to use it again this week for a person to person transfer instead of paypal. I’ll write an in depth review soon of what I see, for me, as the pros and cons of the service. For me, I think in many situations it is a very viable alternative to paypal and I hope it catches on. I don’t mind paying fees to paypal when the payer uses a credit card, but the fact that I pay fees for everything with paypal really bothers me.

With my new taekwondo position, we are using a lot more gas than we used to. Not to mention, gas is more expensive than ever! I need to figure out how much of my taekwondo salary needs to go into our budget for rising expenses, and how much can go towards debt. I hope to figure that out this week, and then put more money from my April paycheck into the student loan payoff fund. I like that every time I make a payment, it seems the balance goes down by a number in the thousands place. It is really starting to feel real that we will get this loan paid off before the end of the year. Maybe by the time the car loan ends (March 2009) we’ll have paid off the rest of our debt as well. That is more than a stretch at this point, but anything is possible.

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