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  • #1

    Debt questions

    Okay, so this year we have been aggressively paying things off. Obviously, I have been reading different things about different ways of doing it. The way I have been doing it, is trying to pay off the highest interest things first. But then you have Dave Ramsey that says to forget about interest rates and pay off the smallest balance first. What are your opinions on this subject? I get so tired of reading so many different things. You read what one expert suggests and then another expert says a totally different thing. And this is with EVERYTHING!! It eventually comes to the question of who do you believe?

    Anyway, I just wanted to get your opinions.
    "He woke up because I kept punching him in the face." --Thiago Alves

    "I'm telling you, once your car's been stolen, it never runs the same again. It's like a guy sleeping with your girl. He leaves his mark all over her."- Drama (Entourage)
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  • #2
    Re: Debt questions

    I just realized that this post is close to one of my others, so it can be merged if need be. But the reason I posted today is because I just read some more Dave Ramsey stuff and it just spurred the post because it is frustrating reading so many different things.
    "He woke up because I kept punching him in the face." --Thiago Alves

    "I'm telling you, once your car's been stolen, it never runs the same again. It's like a guy sleeping with your girl. He leaves his mark all over her."- Drama (Entourage)

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    • #3
      Re: Debt questions

      Follow Ramsey's plan, it works. My brother and his wife followed it to a tee and paid off all debts except their house and saved 55k.
      Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master. George Washington

      I do not condone the use of, nor do I use anabolic or androgenic steroids. My participation on these boards is for informational purposes only. I have done extensive research of AAS and enjoy discussing them for role playing enjoyment.

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      • #4
        Re: Debt questions

        Our credit card has the biggest balance and the highest interest. But I have enough to pay off her car and my little truck, and I think I am going to pay those two off and go from there. Those two being paid off will give us an extra 5xx.00 per month. I know it would be smarter to pay the big card off, but with these out of the way, we can build money faster to pay it off.
        "He woke up because I kept punching him in the face." --Thiago Alves

        "I'm telling you, once your car's been stolen, it never runs the same again. It's like a guy sleeping with your girl. He leaves his mark all over her."- Drama (Entourage)

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        • #5
          Re: Debt questions

          But then again, the interest on the vehicles is over since it's so close to being paid off. So paying those off won't really "save" me money like getting rid of the credit card interest would. So I think I am on the right track with what I am doing, contrary to what Dave says. Haha. Sorry for the thread, but it actually helped me think it out just from typing up the thread.
          "He woke up because I kept punching him in the face." --Thiago Alves

          "I'm telling you, once your car's been stolen, it never runs the same again. It's like a guy sleeping with your girl. He leaves his mark all over her."- Drama (Entourage)

          Comment

          • #6
            Re: Debt questions

            damn....im having a hard time "payng off" a tank of fukin gas!!! congrats on whatever you do!!
            HE WHO MAKES A BEAST OF HIMSELF, GET'S RID OF THE PAIN OF BEING A MAN!!


            http://www.infinitymuscle.com/forum.php







            "Actually for once your actually starting sound quite logical!"-djdiggler 07/10/2007

            I LOVE BOOBOOKITTY...

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            • #7
              Re: Debt questions

              Originally posted by daved150 View Post
              damn....im having a hard time "payng off" a tank of fukin gas!!! congrats on whatever you do!!
              Haha!! I hear you. Well, we have sacrificed a lot of extra curricular activities and that was a biggie! It is pretty much going to take 1.5 years once I'm done, but it will be worth it. I've been doing it for almost a year now. We don't have much longer.
              "He woke up because I kept punching him in the face." --Thiago Alves

              "I'm telling you, once your car's been stolen, it never runs the same again. It's like a guy sleeping with your girl. He leaves his mark all over her."- Drama (Entourage)

              Comment

              • #8
                Re: Debt questions

                Id pay off what would be easiest to pay off first, then go after the larger debt..Might want to do some research on how to make more money..investing your capitol and make it work for you instead of just having the extra money to pay for other things. I know it is hard with so much competition, but people are making money if they are smart and informed.
                sigpic

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                • #9
                  Re: Debt questions

                  Originally posted by Michelle Hayden View Post
                  Id pay off what would be easiest to pay off first, then go after the larger debt..Might want to do some research on how to make more money..investing your capitol and make it work for you instead of just having the extra money to pay for other things. I know it is hard with so much competition, but people are making money if they are smart and informed.
                  aaaaaa....smart and informed!!! there's the fukin problem!!! lol
                  HE WHO MAKES A BEAST OF HIMSELF, GET'S RID OF THE PAIN OF BEING A MAN!!


                  http://www.infinitymuscle.com/forum.php







                  "Actually for once your actually starting sound quite logical!"-djdiggler 07/10/2007

                  I LOVE BOOBOOKITTY...

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                  • #10
                    Re: Debt questions

                    ^Yeah, lol
                    sigpic

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                    • #11
                      Re: Debt questions

                      Originally posted by tn94z View Post
                      But then again, the interest on the vehicles is over since it's so close to being paid off. So paying those off won't really "save" me money like getting rid of the credit card interest would. So I think I am on the right track with what I am doing, contrary to what Dave says. Haha. Sorry for the thread, but it actually helped me think it out just from typing up the thread.
                      All good advise from everyone.

                      You are definitely on the right track....paying off debt. This is a reality that many folks cannot/never accomplish throughout their lives.

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