Debt questions

[tn94z]

TweetOkay, 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.

[tn94z]

TweetI 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.

[JsJs24]

TweetFollow 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.

[tn94z]

TweetOur 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.

[tn94z]

TweetBut 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.

[daved150]

Tweetdamn....im having a hard time "payng off" a tank of fukin gas!!! congrats on whatever you do!!

[tn94z]

Tweet

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.

[Michelle Hayden]

TweetId 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.

[daved150]

Tweet

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

[Michelle Hayden]

Tweet^Yeah, lol

[skinnyman]

Tweet

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.