Halloween: Scary Numbers
Three money monsters and how to beat them
Halloween’s meant to be fun, but your budget shouldn’t be the scary part.
Here are three numbers that sneak into statements and mess with your progress, and how to fight back.
Monster #1: 29.99% APR
That number doesn’t look huge until you realize what it does.
At that rate, a big chunk of every payment goes to interest, not the balance.
The debt barely moves, and the payoff drags on for years.
If you carry a balance, the rate matters more than you think.
Monster #2: Compounding Interest
Credit cards charge interest on your average daily balance, not just what’s left at the end of the month.
That means interest grows on interest.
Paying only the minimum keeps this monster alive. Even small extra payments, or paying a few days early, can stop the spiral.
Monster #3: Fee Creep
Late fees. Annual fees. Balance transfer fees. Each one looks tiny but together they eat real money.
One late fee can wipe out a month’s progress.
How to Unmask the Monsters
Stop judging loans or cards by the rate alone. Look at the total cost.
List your balances, APRs, and any required fees.
Note your monthly payment and total payments over time.
Check prepayment rules. If paying early saves interest, do it.
Pay before your statement date. It lowers next month’s interest.
Turn on autopay for at least the minimum. Add a small extra if you can.
Try This Week
Pick one card. Make a small extra payment today. Set a reminder three days before the statement date. Turn on autopay if it’s off.
High APR, compounding interest, and fees are the real monsters. Seeing your total cost is the flashlight. When you shine a light on the full picture, debt gets less scary and progress gets faster.