New and Debt Free! Watching the money pile up!

[naturalwoman]

Re: New and Debt Free! Watching the money pile up!

yeah dave is pretty cool, i have his show plugged in right now as i surf this site. ever since i started my BEF (baby emergency fund) i haven't had any emergencies. i'm currently saving for a root canal instead of the free credit financing i was offered and i feel good about now borrowing money. yes and money does start to flow in once you decide to get on board. worry no more.

[humandraydel]

Re: New and Debt Free! Watching the money pile up!

you're right, humdraydel, i didn't move the payment. my spreadsheet is setup so the money 'snowballs' all in one direction....

at this point it simply becomes a question of would i rather save $220 or have fewer debts sooner... for me personally, it's worth 'spending' 220 to have 2 fewer debts sooner. that's just me...

Fair enough. As I said, in your situation the difference is so minimal that it's hardly worth worrying about. However, if you had 20k CC debt at 25% interest, the difference would be significant.

Sorry to be so picky....I just feel it's important that people realize that they WILL save money by paying the highest interest rate debt first. Sometimes the amount is significant, sometimes it isn't.