I received a funny phone call the other day from one of our loan issuers. He explained that he had received a payment for our loan in the amount of $44.70 and wanted to make sure it was correct.
I logged into our accounts to see where everything was standing and one loan stood out and I couldn’t ignore it. It didn’t end in a nice round number and my
OCD Type A personality took over. I had to put an additional payment on the loan so it would incrementally do down by an ever number, on the dollar, not the cent.
I like round numbers, constantly moving cents around our accounts to even them up to a nice round dollar. When I pay our bills I always round up to the next nearest dollar. When I make additional debt payments I usually wait until I have an even number (unless our account is uneven!) before sending the money in.
There’s something about paying a whole additional dollar to me than change. I know I will never miss the few cents that will be needed to round up to the next dollar so I do it every time. Over many years of doing this I have quite the credit adding up one one of our utility bills. From just rounding to the next nearest dollar I currently have a $60 credit on our water bill. Also, from what I imagine was my dollar rounding strategy, one of our loans is about $100 less than I was expecting when I called to get a balance update.
You’ll never see a debt update saying I put an extra $345.xx onto our debt, I will in most definitely find the change to round it to $346.00. Not that it matters, since the main goal is to see the debt decrease in any way possible but I do wonder if I’m a total weirdo or are there others like me?
Do you pay your debt off by the dollar or cent?