About Me

Denise

I'm a freelance journalist and crafter who dreams of starting my own business-- a hometown Tiki bar. I am a former New Orleans Bourbon Street bartender.

The challenge: I can't use my primary income to fund the tiki bar. I can only use money I earn in other ways. Part of the challenge will be to develop new, creative revenue sources. It's like a pumped-up,long-term $20 challenge.

**2008 Tiki fund goal: $1,500**
$1107.31 in fund, $392.69 to go

***Monthly Tiki Fund Total***

Sept: $0
Misc. writing
Saving act. interest
lottery tix

August: $74.17
$5.03 Web sales
$37.50 eBay profit
$24 Google Adsense
$5 festival prize
$2.64 saving acct. interest

For a full breakdown of Tiki fund money, visit my $20 challenge page.

***Personal Savings Goals for 2008***
$5,000 into my IRA
$2,000 into hubby's Roth IRA
$2,000 into 529 plan
$6,000 into savings account
$3,600 into brokerage account
$650 into new car fund
Total: $19,250

***Progress Report***
$5,000 in my IRA. GOAL MET!
$2107 to Roth, GOAL MET!
$1500 to 529 plan, $500 to go
$5343 to savings, $657 to go
$2355 to brokerage, $1245 to go
$463.17 in car fund, $186.83 to go
Total: $16,768

***
Debt to pay off:
Student Loan: $14,348.68
(Down from $40,000 in 2001)
By the end of the year, I'd like to pay an extra $1,000 on top of my normal payments.
***
Mexico Vacation Goal: $6,000 by Feb, 2009
Fund total: $3,872.53
***
All of these goals will be a little harder to reach this year because I am now self-employed and the hubby and I had our first baby in April.

We have always lived on one salary only. But we aren't quite sure how a new baby and giving up my full-time job are going to affect our finances.

***The Big Picture***
Me 33, Hubby 35
-No credit card debt
-No car loan
-House paid off because we moved to a cheaper city

My Pages

Watch your Bank of America credit card

February 7th, 2008 at 09:37 am

I just ran across this article in BusinessWeek. Apparently Bank of America is brazenly raising interest rates on many of its credit cards. Those affected received notice in the mail, and instructions on how to opt out, but in a letter that was most likely tossed. Some folks are seeing their rates go from 9 percent to 29 percent for no reason!

So if you have a BofA card and carry a balance, keep your eyes peeled.

Here is the article

http://www.businessweek.com/bwdaily/dnflash/content/feb2008/...

Posted in Uncategorized | 6 Comments »

6 Responses to “Watch your Bank of America credit card”

M E Says:
February 7th, 2008 at 09:42 am

Can't say that I am surprised. That is the reason I am no longer a BOA cardholder. Well, technically I do still have both cards. (they bought out a bank I had a different card with) However, once they decided to raise my rate(s) for no reason (I was not late with them or any other bill(s) and they were asked to lower them and they declined, I transfered my balance(s) elsewhere and BOA has been trying to lure me back ever since. (4 or 5 years now) Like that is EVER going to happen! @@
aevans1206 Says:
February 7th, 2008 at 09:43 am

Wow. Thanks for the article. I just was telling my Uncle about Bank of America, who has decided to hand out credit cards to illegal immigrants. I was trying to explain that if they default on their credit cards, other card holders will have to pay through higher interest rates. The article you posted proves my point. I am not anti-immigrant, by the way
Caoineag Says:
February 7th, 2008 at 10:42 am

Yup, I was one of those customers. My balance will be mostly paid off before they can jack the rate. They actually bought out the company I signed up with otherwise I wouldn't have a card with them.
Aleta Says:
February 7th, 2008 at 12:07 pm

They bought out MBNA which my husband had and we miss. You have to read those disclosures.
dtjunkie Says:
February 7th, 2008 at 11:15 pm

I have been meaning to close this card for a while. I think this is the last straw. No rewards, High Annual Fee, now this...pay it in full and close this sucker!

Sigh...I know it will "hurt" my credit rating though.
But it's probably for the best.
Aleta Says:
February 8th, 2008 at 06:05 am

dtjunkie: You can pay off cards without closing them out. What hurts your credit score is by closing it. See if you can get rid of the annual fee from them.

Thrift-o-rama and the quest for a Tiki Bar

One girl's quest to shore up her personal finances and save for her own business

Watch your Bank of America credit card

6 Responses to “Watch your Bank of America credit card”

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