Hello,

I have multiple student loans, and 2 credit cards with balances.

I've been doing pretty well at getting out of debt recently and I have a pretty sound plan. My question is a small one about optimizing it. My plan isn't original. It's just a "Roll-Over" plan in which you allocate a set amount of money per month for debt, then pay the minimum on everything but the debt with the highest interest rate. Put the remainder of your budgeted money on that one. Once that is paid off, repeat on the next highest rate account "rolling over" what you used to pay on the one that is paid off. Pretty simple.

I've been doing this for a couple of months when one of my older credit cards (already paid off) offers me an 18 month 0% balance transfer offer. Pretty sweet deal. So I did that. The rate after the intro rate is pretty high, about 18-20%.

My question is, since this rate is 0% for 18 months, should I start paying extra on the highest rate loan (highest now) or make payments on the 0% first since it will have the highest in 18 months? I'm leaning toward highest now.

Is there a simple answer for this that doesn't require a ton of math? Or maybe someone knows of a great spreadsheet that can help. I can provide more details if anyone needs them, like some balances and other rates.

Any input will help! Thanks!

I have multiple student loans, and 2 credit cards with balances.

I've been doing pretty well at getting out of debt recently and I have a pretty sound plan. My question is a small one about optimizing it. My plan isn't original. It's just a "Roll-Over" plan in which you allocate a set amount of money per month for debt, then pay the minimum on everything but the debt with the highest interest rate. Put the remainder of your budgeted money on that one. Once that is paid off, repeat on the next highest rate account "rolling over" what you used to pay on the one that is paid off. Pretty simple.

I've been doing this for a couple of months when one of my older credit cards (already paid off) offers me an 18 month 0% balance transfer offer. Pretty sweet deal. So I did that. The rate after the intro rate is pretty high, about 18-20%.

My question is, since this rate is 0% for 18 months, should I start paying extra on the highest rate loan (highest now) or make payments on the 0% first since it will have the highest in 18 months? I'm leaning toward highest now.

Is there a simple answer for this that doesn't require a ton of math? Or maybe someone knows of a great spreadsheet that can help. I can provide more details if anyone needs them, like some balances and other rates.

Any input will help! Thanks!

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