|
debt. what to pay off first
| Posted By |
Message |
| Pages: 1 [2] |
pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
|
Re: debt. what to pay off first
Posted by KeithHernandez
Pay the minimum on all the higher balances and put any extra money into the smallest balance.
Once THAT balance is paid off, do the same for the smallest balance etc etc.
it really works.
exactly, this works the best
|
Posted 1/28/09 5:08 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
wannabemom
look who's freshly baked!
Member since 12/07 7364 total posts
Name:
aka marriedinportjeff
|
Re: debt. what to pay off first
IMO:
if all credit cards carry balances, and one is a low balance that you can clear-up in a month or 2, do that first. then you will have 1 card that you can make purchases with, pay off at the end of the month, and never carry interest on the new purchases.....
Then, pay off the highest interest card first. If you are able, you can transfer to a 0% interest card and pay down the other cards for a while.
Don't use any card that has a balance... you'll be needlessly paying interest on every purchase....
HTH
|
| Posted 1/28/09 6:21 PM |
| |
|
Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
|
Re: debt. what to pay off first
Posted by wannabemom
IMO:
if all credit cards carry balances, and one is a low balance that you can clear-up in a month or 2, do that first. then you will have 1 card that you can make purchases with, pay off at the end of the month, and never carry interest on the new purchases.....
Then, pay off the highest interest card first. If you are able, you can transfer to a 0% interest card and pay down the other cards for a while.
Don't use any card that has a balance... you'll be needlessly paying interest on every purchase....
HTH
ITA.
Download this worksheet so you can see the savings of paying the highest interest debt first.
Debt Payment Schedule
|
| Posted 1/28/09 7:06 PM |
| |
|
smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
|
Re: debt. what to pay off first
Logically, you should pay the higher interest one.
|
| Posted 1/28/09 7:10 PM |
| |
|
| Pages: 1 [2] |
Potentially Related Topics:
Currently 399461 users on the LIFamilies.com Chat
|
