Quote:
Originally Posted by TN_fwdsvx
What you need to do is the system Dave Ramsey calls the "debt snowball".
Double (or more) the payments on your lowest balance debt while paying the minimum on all the others. When that debt is paid off, apply it's payment, plus what you were paying, to the next lowest. Contine until all debts are paid in full. Oh, before you do this - stop charging anything! Cash only! Use debit card for online parts purchases.
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This is good but I would pay off the highest interest debt first.
eg. Credit Card @ 20%, Line of Credit @ 8.5%, Mortgage @ 7%
Makes more sense to pay off the credit card first.