Suggestions welcome: debt reduction vs. saving/investing

[ceejay74]

I found a good snowball spread sheet. Although it may be difficult to calculate the extra charges for sending money.

But basically pay off the highest interest first. You may also want to pay off those 0% ones before the time is up if you can, because if you dont they may tack on the interest once the time is up since you don't pay it all off.

Heres snowball worksheet. need to remove spaces in w w w

w w w .geocities.com/schizeckinosy/Snowball.html

Cool! I took a look at it, and while it seems a bit complicated, it looks like a helpful tool and a good rainy-day activity sometime in the future! :-)

[ceejay74]

I just had to update this ancient thread to report that I've paid off all the credit card debt, over $70,000!! What's more, we have over $10,000 in EF savings (up from $0) and have begun to consult lawyers and financial planners to make sure all of our financial affairs will make sense in the unlikely event of a breakup.

Now on to student loan debt, and the many many other financial things (retirement, etc.) that badly need to be addressed.

But first: woo hoo!!!

[minnie1928]

But first: woo hoo!!!

Woo Hoo is right!! Congrats!!

[ea1776]

I just had to update this ancient thread to report that I've paid off all the credit card debt, over $70,000!! What's more, we have over $10,000 in EF savings (up from $0) and have begun to consult lawyers and financial planners to make sure all of our financial affairs will make sense in the unlikely event of a breakup.

Now on to student loan debt, and the many many other financial things (retirement, etc.) that badly need to be addressed.

But first: woo hoo!!!

Congrats! and thanks for creating this thread. I love it when people have a unique life setup. It makes for a mind-opening experience and definitely a good financial planning exercise too! Cheers.

[creditcardfree]

I'll say congrats on the forum, too! Because you have done awesome paying down the debt.