http://www.theamateurfinancier.com/blog/debt-repayment-test/ Thoughts on Money, Investing and Life Wed, 08 Feb 2012 07:50:15 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.theamateurfinancier.com/blog/debt-repayment-test/#comment-3209 Roger Tue, 21 Dec 2010 18:31:32 +0000 http://www.theamateurfinancier.com/blog/?p=297#comment-3209 @Lvnv Funding: I will admit that there is a psychological method behind Dave's suggestion, and if you need a morale boost to keep you moving on the path to financial freedom, a quick victory on repaying your first debt could be it. That said, the more financially advantageous route is going to be to pay down your debts from highest interest rate to lowest (and get your psychological perks from knowing that you'll be debt-free much sooner via that method). @Lvnv Funding: I will admit that there is a psychological method behind Dave’s suggestion, and if you need a morale boost to keep you moving on the path to financial freedom, a quick victory on repaying your first debt could be it. That said, the more financially advantageous route is going to be to pay down your debts from highest interest rate to lowest (and get your psychological perks from knowing that you’ll be debt-free much sooner via that method).

]]> http://www.theamateurfinancier.com/blog/debt-repayment-test/#comment-2432 Lvnv Funding Tue, 07 Dec 2010 04:42:12 +0000 http://www.theamateurfinancier.com/blog/?p=297#comment-2432 I like the debt snowball approach, particularly precisely how Dave recommends accomplishing it. If you happen to be instructing the public such as Dave, the one thing every person lacks is without a doubt enthusiasm. Most of the people have to be determined to keep proceeding, so begin with the tiniest personal debt and repay it first. I like the debt snowball approach, particularly precisely how Dave recommends accomplishing it. If you happen to be instructing the public such as Dave, the one thing every person lacks is without a doubt enthusiasm. Most of the people have to be determined to keep proceeding, so begin with the tiniest personal debt and repay it first.

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