OK my number have changed what to pay.
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| Wed, 02-25-2009 - 10:39am |
I had posted previously wondering what to pay off first, well I just found out that I actually owe more property tax than originally thought, so here is the break down, what to pay first?
Total Federal Income Tax Return is $4750.
Property Taxes to pay is $2473.75
Leaving me with only $2300 until I get my state which is for $1153.
Card 1: 1603.84 @ 22.90% monthly payment $105
Card 2: 1080.84 @ 21.99% monthly payment $30
Card 3: 1465.46 @ 0% until 4/29 then 12.99%, monthly payment $44
Card 4: 438.00 @ 22.99% monthly payment $13.00
Card 5: 1072.44 @ 0% until 6/09 then 22.99% monthly payment $20
Card 6: 2662.81 broken down as follows $1163 @ 11.90%, 1127 @ 18.90%, 238 @ 1.99% monthly payment $65
Card 7: 1968.33 @ 0% until 1/10 monthly payment $20
Card 8; 6125 @ 9.24% monthly payment $100.
Now the monthly payments I listed are minimums only, I usually always pay extra whether by 20-50 dollars.



Yippie for having money to pay off cards!
I would pay off card #1, 4 and 5. If you hadn't planned on paying off card 5 the interest will hit and kill you. Also, some cards charge BACK interest if the card isn't paid off in the time the 0 % interest wares off. Beware of that card.
Now, that being said - I hope you are doing the responsible thing by getting rid of / cutting up / hiding the cards you pay off so the temptation to run them up is GONE!!!
Congrats to you!
Awe it stinks when you have a spending plan and something mucks it up!
Well at least you have the money to pay the property taxes.
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I would do 1,2 and 4 (with your total tax return). This will leave you with 330.32. I would put that 330.02 in an efund.
Then I would take the $150 a month you are saving (by not having those payments) PLUS any extra you are paying on other CC's (you said you always send an extra $20-50 a month) and pay off #5 before it is due.
This way in a few months you have wiped out 4 cards and simplified your life!
Good luck!
Bex -
"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."
Bex -
Sharon