Thursday, September 27, 2012

September 2012 Debt Round Up

I've never done a debt round up before but I want to now because I'm in a different place than before.  I will not include my mortgage because I have many other things to do before I will be paying extra on that.  This is for the end of September.

Car  11,250                  0% interest
Student loan 4,748.08            4.5% interest
Best Buy credit card 6,869.75      0% for 18 months, then 25%

Total of $22,867.83

I'm not sure which one I will go after first, probably Best Buy.  I want to have all of them gone by May 2013.  It will be a stretch but possibly doable.

What plan of attack would you do for my situation?

1 comment:

  1. I would hit the Best Buy balance first. A lot of times with those 0% offers it tacks on all the back interest if you don't pay it off in the specified period. With the new house I'm sure you'll be finding random expenses popping up here and there for awhile. Since your income varies with commissions, I'd want to get rid of that ugly beast as fast as possible.

    I'd hit the student loan next and finally the car. The car is at 0% so you've already paid the "interest" when you negotiated the purchase price. The student loan is smaller and carries a larger rate, so it makes sense to knock it out next.

    I like the new layout! It's quite striking!

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