Well, I'm 1/12th of the way through this thing. I'm more than on track to lose all my weight, and way behind on my efforts to get out of debt. Not that I expected to be any farther on the debt by now, but it hasn't come down by 1/12th, so I'm technically behind. Although the good news is my tax return should even things up.
It is going to be enough to nearly pay off this fine laptop I'm computing on. Since that's the highest interest debt I have, that will be a very good thing.
Something like 30 bucks of the 40 bucks a month minimum payment was going to interest--meaning the "loan" was only going down by 10 bucks a month, despite the fact that the machine itself probably depreciated 1,000 the second it left the factory and came to me.
I read this week that more and more businesses are starting to operate this way. Sears credit is the highest money-making part of the Sears company. No longer does Sears sell tools, now they finance "stuff." Ford's the same way--they keep on making cars so their finance department will have something to finance.
They're all getting rich off the fact that you and I are willing to pay many, many times more for an item than the tag says, as long as they stretch those payments out to make it as painless as possible.
Once that's paid off, I will never finance a household product again.