Re: Paying off Debts
Have you ever heard of Dave Ramsey? If not check out his site for information on getting out of debt.
Here is what I and Dave would do.
1. Get $1000 in savings for an emergency fund.
2. Pay off debt smallest to largest amount (Dave calls this Debt Snowball), you make the suggested payments on all but the smallest one. Every extra dollar you have goes to the smallest debt and when that’s paid off move to the next debt. Here is what you list should look like. Dave doesn’t care what the interest rate is.
a. Credit Card B: $685.86
b. Credit Card A: $1104.18
c. Unsubsidized Loan: $2676.35
d. Subsidized Loans: $10273.55
If you have any more questions please feel free to leave a comment here.
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