ST Alpha - "Pay off the interest-carrying debt in monthly payments quicky but not immediately. (Maybe 4 months.) Then take that monthly payment, or a bit less, " (Reading a Post)

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In response to "Financial opinions: Do I zero out my savings to completely pay off debt? More details inside.." by colin

Pay off the interest-carrying debt in monthly payments quicky but not immediately. (Maybe 4 months.) Then take that monthly payment, or a bit less,

Posted by mara Aug 26 '11, 07:22

and start applying it to the 0-interest debt.

Responses:

yep - one little addition - if the zero percent is on more than one card, apply all extra money to the one with the zero rate that will end first. -- nm - Andie Aug 26, 07:26 2
- most importantly, make up a payment schedule in Excel that gets it all paid off in time and *stick to it* -- nm - znufrii Aug 26, 07:27
- thank you all. thankfully i'm down to just 2 cards. i can keep the 2 month savings and still pay the interest card, then work on 0. -- nm - colin Aug 26, 07:27

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