AWW$HEEET Posted March 11, 2010 Report Share Posted March 11, 2010 pay higher interest shit first. Quote Link to comment Share on other sites More sharing options...
boosted98gst Posted March 11, 2010 Author Report Share Posted March 11, 2010 pay higher interest shit first. "List your debts, excluding the house, in order. The smallest balance should be your number one priority. Don’t worry about interest rates unless two debts have similar payoffs. If that’s the case, then list the higher interest rate debt first." Thats coming from a dave ramsey site, I think he knows what hes talking about. Hes states that 80% of all debt is behavior , motivation is the key to getting out of debt from what ive been reading. Quote Link to comment Share on other sites More sharing options...
AWW$HEEET Posted March 11, 2010 Report Share Posted March 11, 2010 i can see where he would want to reinforce that behavior. paying off something feels good, i could see where it could help motivate you. but from a purely $ standpoint, all "warm and fuzzy" feelings aside, paying off the highest interest rates first is the best method. Quote Link to comment Share on other sites More sharing options...
boosted98gst Posted March 11, 2010 Author Report Share Posted March 11, 2010 i can see where he would want to reinforce that behavior. paying off something feels good, i could see where it could help motivate you. but from a purely $ standpoint, all "warm and fuzzy" feelings aside, paying off the highest interest rates first is the best method. Yeah you're right but what about if you free up money like the smaller debt's then like double pay the bigger loans? Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted March 11, 2010 Report Share Posted March 11, 2010 We are def going to be talking with your wife, its going to be maybe next week before he can call due to being out of state for business. Thank you for the help, if anyone has been in this position before knows how much stress this can bring. Not only for him but our family , he is now on blood pressure meds prolly due from the stress, either way thanks again for your guys help! Just make sure he takes the time to complete her paperwork so she can get a solid background and understanding. He's in the best hands around and I mean that not because she's my wife. She's very good, very thorough and a rarity in the legal world....she actually fights for her clients with a sincere caring. Ask anyone who works with her as a client or colleague. Have him reference me though so he makes it to the top of her schedule. Good luck. Quote Link to comment Share on other sites More sharing options...
87GT Posted March 11, 2010 Report Share Posted March 11, 2010 All the things ive been reading , say to start with the smallest debt first , then work your way up. Everyone is going to have their options but im just going by what I read. Well whatever works for you is fine. Only debt I have now is my house and a few college loans. Paying off small bills feels good it is true. But when I paid off a huge credit card bill with super high interest I instantly jizzed in my pants. Quote Link to comment Share on other sites More sharing options...
OSUGT Posted March 11, 2010 Report Share Posted March 11, 2010 i can see where he would want to reinforce that behavior. paying off something feels good, i could see where it could help motivate you. but from a purely $ standpoint, all "warm and fuzzy" feelings aside, paying off the highest interest rates first is the best method. Paying off the smallest one first translates into progress. Progress translates into traction. Traction translates into motivation. Motivation translates into behavior modification. Behavior modification translates into life changes. Life changes translate into a debt free lifestyle. U may save a couple bucks paying off the higher rates first, but it sure means more when you have that first card payed off and can work toward the next with a clear cut goal. Quote Link to comment Share on other sites More sharing options...
87GT Posted March 11, 2010 Report Share Posted March 11, 2010 Paying off the smallest one first translates into progress. Progress translates into traction. Traction translates into motivation. Motivation translates into behavior modification. Behavior modification translates into life changes. Life changes translate into a debt free lifestyle. U may save a couple bucks paying off the higher rates first, but it sure means more when you have that first card payed off and can work toward the next with a clear cut goal. That makes sense if you are weak minded. Quote Link to comment Share on other sites More sharing options...
boosted98gst Posted March 11, 2010 Author Report Share Posted March 11, 2010 That makes sense if you are weak minded. Thats not true at all, not everybody is the same. Quote Link to comment Share on other sites More sharing options...
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