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Feb 12th, 2024
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 Re: For you Financial guys or I guess just good common sense
[Re: BigPig]
#7466352
03/23/19 07:24 PM
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Joined: Jan 2013
Posts: 19,652
Pitchfork Predator
THF Celebrity
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THF Celebrity
Joined: Jan 2013
Posts: 19,652 |
You have to start with the highest amount. At this point, interest is a moot point. Knock out the biggest cards, then take whatever money he’s paying towards them monthly, and start paying the next highest, then all that money and pay the next highest. Depending on the rest of his finances, he could have that debt cleared out by this time next year.
This is one of the few things that Dave Ramsey preaches that I agree with. This will also improve his credit score, if he cancels the cards after paying them off. Pay off the largest balance first. Then the next largest...... Sell the toys and stuff that you don't need or use regularly to help pay the debt sooner. Cut up your wife's credit cards is the first thing you do.
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Re: For you Financial guys or I guess just good common sense
[Re: okbowhunter]
#7466734
03/24/19 02:57 AM
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Joined: Dec 2011
Posts: 5,834
Lazyjack
THF Trophy Hunter
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THF Trophy Hunter
Joined: Dec 2011
Posts: 5,834 |
I will add this.
Make a plan. Run the numbers over and over until you have an obtainable goal. Have the discipline to follow plan.
If the 2nd amendment was written just to include guns for hunting, why is there not an amendment to protect fishing poles?
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Re: For you Financial guys or I guess just good common sense
[Re: okbowhunter]
#7466879
03/24/19 10:09 AM
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Joined: Dec 2007
Posts: 2,043
okbowhunter
OP
Veteran Tracker
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OP
Veteran Tracker
Joined: Dec 2007
Posts: 2,043 |
[Tell the wife she has to have sex with you every time she charges something. That'll stop her lavish spending in a hurry.]  That's genius he's been wondering how to stop this! The current Credit isn't that bad all cards are current and payment history is excellent on all cards, vehicles and house, his Credit Score is 629 her's is a little bit higher for some reason that he doesn't understand. Been considering options right now it's deciding to pay off the little ones work up or big ones then work down.
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