Thread: Debt
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Old 02-26-08, 03:35   #10 (permalink)
Pennypacker
is this thing on?
 
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Join Date: Jan 2004
Location: Walnut Creek, CA
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Re: Debt

Thanks for all the input.

Accumulator, that's most impressive!

I do like the lowest balance first philosophy. I think, however, if I had a large cc balance at 20% or more (compared to 5% on the school loan, for ex.), I'd opt to prioritize based on the rates. Fortunately though, I don't have to contend with that and the rates on the car loan and student loan are about equal, so I think paying the lowest balance first is a good approach.

I'm still debating whether I should sell my car, though. That's a tougher one for me to decide. I'm fairly certain I could get around 21k for it and that would go a long way towards knocking down that student debt. My head is saying one thing and my heart is saying another..
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