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Old 03-18-2013, 05:51 PM   #11
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lyn1270
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Re: Dave Ramsey Support Thread ~ March 18-24

Quote:
Originally Posted by KennedyMommy View Post
Hi Ladies,

This is what I posted on the last page.

Okay so here is my dilemma... I owe $80,000 to student loans. I owe $20,000 at 9.5% interest (paying $200/month), $10,000 at 3.25% (paying $40/month), and $10,000 at 4% (paying $35/month). I know DM says to pay off the smallest amount first, but if I paid the other 2 off first, it wouldn't leave me with much of a sb. What should I do? Thanks ladies
I would stick w/DR method of paying the smallest first. One of the reasons he recommends that is to get your momentum going, to make you feel successful. We owe $60k in CC debt (yes, i know, it made me vomit too ). I didn't even look at the interest rate when determining which to start paying first. I paid the smallest first, and now I'm working on the rest. I do have some larger ones that have higher interest rates, but I'm sticking w/the Dave method. My DH tired the other way, paying the higher debt w/the higher interest first, and it blew up in his face. so that's my
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