OK my number have changed what to pay.

iVillage Member
Registered: 10-16-2007
OK my number have changed what to pay.
5
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.


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iVillage Member
Registered: 07-02-2008
Wed, 02-25-2009 - 12:37pm

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!

iVillage Member
Registered: 08-04-2008
Wed, 02-25-2009 - 1:00pm

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.




iVillage Member
Registered: 10-16-2007
Wed, 02-25-2009 - 1:46pm
THanks! No way in he** am I ever going to use cc's again! I am sooooo soooo sick of living like I owe credit companies my life. And my husband is against the use of credit in any way so that will help. It just feels good to be paying something towards this debt.

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iVillage Member
Registered: 04-10-2003
Wed, 02-25-2009 - 1:54pm

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 -

iVillage Member
Registered: 08-02-1998
Wed, 02-25-2009 - 2:00pm
I would pay off card #1 and #4 and put the remainder($258.16) on card #2. Then when your state tax comes in put it on the remainder of card #2(822.68) and that will leave you with $330.32 to put onto Card #3 so that you will hopefully have it paid off before the interest kicks in. If you snowflake the other cards payments (#1,2,& 4) ($148) to card #3 it will be paid a bit quicker. My math may be a bit off.

Sharon