What is your interest rate?

I'm actually doing the opposite...attacking the lower balance bill...so it gets paid sooner, and then adding the payoff amount to the next bill. (Wife taught me that method)

Fortunately, I am targeting 2 balances so I project to be done by year's end...maybe sooner!

After that, I can focus on the truck and then the mortgage.

 

Similar to Dave Ramseys debt snowball technique. The way to go imo

 

This is what me and my wife did, we only got mortgage left, although he would probably disapprove of me considering another car loan even for two years and 15k lol.

 

If they are all paid this year, difference won't be much regardless of the method.

Here's a good article that explains when it's best to pay the highest interest first versus paying the highest balance. https://www.experian.com/blogs/ask-...ff-highest-balance-or-highest-interest-first/

 

I had a deal set at 2600 off MSRP and as I’m in the dealership I clicked on their website and all of a sudden there’s a “click for instant savings” button on MY exact truck. I clicked it and it’s for $4100 off MSRP! I say “I want that now”. So my Sport 4x4 was $53,000 but I got it for $48,900

 

Agree here. I had to move last year for a new job. Traded a mortgage at 2.5% for one at 7%. I did roll all my equity into the new house, and I will refinance when interest rates drop. But I'm not throwing one dime extra at the mortgage, other than rounding it up to the nearest $100.
Every dime I have extra is going into mutual funds. Up 47% over the past year. Over 17% past 10 years.

 

Something I heard the other day. The gov is going to raise lower credit scores, so the people with not good credit can afford to borrow money. Yeah it's that stupid.

 

talk about causing a greater issue Country wise! Thats a really bad idea, much like the mortgage issues pre 2008.

Repo stats are 20.4% up

https://www.findthebestcarprice.com/car-loan-repo-stats/

 

I'm hoping I misheard what was said. I can't think the banks would be on board with this... Unless?