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from 20 to 0

September 8th, 2006 at 06:52 pm

$1600 credit card debt
$4000 vacation loan
$13438 education loan

i can save $6-what do you suggest $600 a month or apply it to the debt
my immediate goal is to save towardsa downpayment for a home.
I'm open to suggestions?

Posted in from 0 to 20 : 10 months from now | 2 Comments »

2 Responses to “from 20 to 0”

  1. Anonymous Says:
    September 8th, 2006 at 07:39 pm 1157744341
    1157744341

    If you can spare $600/mo. without feeling the pinch anywhere else, I would put it all on the CC debt, then the vacation debt. After those two are paid off, start putting $500/mo. towards saving for your home downpayment and the extra $100 to the education loan, if it's below 3-4%. If it's higher than that, pay off the educ. loan before saving for a house.

  2. stella allenby Says:
    September 14th, 2006 at 12:46 pm 1158238004
    1158238004

    Thanks alot..the advice is well taken..my education loan is currently at 4% and can restructure to 3.5% in 6 months.
    so once again the advice is well taken and much appreciated.

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