Creative Ways to Spend $2700 (My Finance Charges for 2007)

My recent post, 7 Strategies to Reduce Finance Charges, got me thinking. How much money was I really spending? Sadly, I was way too irresponsible in with financial documents to get a grand total. But thanks to the magic of electronic statements, I have been able to round up most the numbers. There are a couple of store cards and one closed account that I don't have the documentation for so I've compiled an almost complete table.

I present to you, Finance Charges '07...

Drum roll, please...

Over $2700 in Finance Charges!










Monthly Finance Charges:

• January: $307.02
  
• February: $306.29
  
• March: $275.82
  
• April: $332.91 (Graduated From College)
  
• May $294.79
  
• June: $299.85
  
• July: $268.55(Got Prosper Loan)
• August: $239.75 (Balance Transfers)
  
• September: $107.37
  
• October: $98.22
  
• November: $94.27
  
• December: $81.46
  

Best Borrower 2007 Awards from:

• Direct Merchants Bank: $696 Annual Finance Charge
  
• Chase: $671 Annual Finance Charge
  
  

So there it is. I've paid over $2700 in finance charges this year. I get a little bit angry just looking at it. I've started to feel like every dollar finance charge is a personal insult. But today, instead of rant, I'm going to think positively. By 2009 I will have completely eliminated finance charges from my life.

What should I do with my $2700?
Of course I plan on investing and saving, but I could...

• Get a 50" Plasma HD1080 Flatscreen +Wii with all the necessities (as calculated by Patrick at Cash Money Life): $2600
  
  
• Put $100 towards the debt of 27 friends and family members: $2700
  
  
• Install 1/2 kW solar panels: $2500
  
  
• Stock up on a lifetime supply of oatmeal and beans for cheap eats all around (1 ton of beans plus 500 lbs oatmeal): $2700
  
  
• Put hotels on Boardwalk and Park Place: $2750
  
  

How would you spend my $2700?

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See also:

• What is Your Monthly Finance Charge?
• 7 Strategies to Reduce Finance Charges
• Pre-Payment Pays Off: New Feature for Prosper Borrowers
• My Financial Resolution for 2008