Quote:
Originally Posted by mercuryguy
I'm planning on doing this
* Pay off 5 ASAP ( $1,250)
* Put $2,000 into the ING saving acct
* pay the rest of my tax refund ($2,000) to No. 2
* I can make payments on No. 6 since its still on 0% APR for 5 months.
What do you guys think?
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I think the 5 people who have replied all said the same thing: pay off 5 and 6 first. Then work on 2. I'm not understanding why you are still planning to do it the way you say above. Your refund is large enough to eliminate 6, which has the highest rate once the 0% expires. You've said you don't have enough to pay off 6, so in essence, your above plan is focusing on a 13.99% debt instead of an 18% debt which doesn't make sense.