View Single Post
Old 03-19-2013, 08:43 AM   #15
krispy79's Avatar
Registered Users
Join Date: Apr 2009
Location: Bangkok, Thailand
Posts: 1,912
My Mood:
Originally Posted by KennedyMommy
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 pay off the higher interest first in this case, it's more than double the one and almost 3x more than the other. For me the win would come from not spending another 20k in interest. It would literally take, based on just paying your minimums, an extra 25 years to pay it all off if you paid the smaller ones first... I see no win there. Start on the big one!

Originally Posted by bluecandi
Ok so.....Im paying off my little cc (600ish) with the refund. It has 0 interest til 10/13. Is it stupid to transfer some from the big cc (7k, 9%) to the little cc and then pay it off? 1k (assuming the transfer fees arent rediculous). Mainly to just have a smaller balance thats collecting interest on the biggun. Is that stupid?
I would do it, save any way you can right!?
Kristy~ISO: Sleep!

Is Someone Hurting you? You can talk to me 1.800.838.8238

Last edited by krispy79; 03-19-2013 at 08:45 AM.
krispy79 is offline   Reply With Quote