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Debt Reduction & Money Management Discussions on debt reduction, credit cards, consolidation, debt free living, and money. Snowballing debt, paying yourself first, and money management.

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Old 10-09-2009, 07:18 AM   #1 (permalink)
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Default Yay! Go Me.

So I heard some great news last night. My one debt for rent has been waived!!!

My had to go to court to fight some charges that she didn't feel was right. And now because of it what I owe has been wipe and they are just sating we owe nothing!.
The landlord had come into the apartment and screamed at my friend, like had her in tears and was calling her every name under the sun.

And my virgin mobile is paid off as well.

So now I have about $300 left, what should I put it on?
Visa at 19.5 percent or Dell at 28.99%
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Old 10-09-2009, 07:25 AM   #2 (permalink)
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Pay Your Dad First!

Congratulations on the achievements!
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Old 10-09-2009, 07:38 AM   #3 (permalink)
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Debts in order of smallest to largest - so Dad, then BF, then Dell.

Your relationships with both Dad and BF will be better without the debtor/lender relationship.

And congratulations!
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Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"


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Old 10-09-2009, 09:24 AM   #4 (permalink)
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I remember dad was insisting he should be last and the Dell was high interest I would stick it on Dell

You owe BF ? yeah that needs to be wiped out also.
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Old 10-09-2009, 10:05 AM   #5 (permalink)
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Woo hoo, Congratulations!
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Old 10-09-2009, 10:28 AM   #6 (permalink)
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I agree, pay dad off first. If nothing else my consience would be clear.

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Old 10-09-2009, 12:43 PM   #7 (permalink)
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Quote:
Originally Posted by itlw8 View Post
I remember dad was insisting he should be last and the Dell was high interest I would stick it on Dell
I remember Dad saying that. I just don't care.
__________________
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Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"


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Old 10-09-2009, 12:45 PM   #8 (permalink)
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Given dad's feelings....Dell
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Old 10-09-2009, 01:05 PM   #9 (permalink)
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Hey! Congratulations!
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Old 10-09-2009, 01:15 PM   #10 (permalink)
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At that high of an interest rate, I'd attack the Dell account first.
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Old 10-09-2009, 02:21 PM   #11 (permalink)
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Quote:
Originally Posted by Greebo View Post
I remember Dad saying that. I just don't care.
As a parent it would mean alot to me if my ds came and paid us first and not with what he had left and SHOWED us his plan and how he was coming paying things off.

even if he does not take it it would be good to offer again and to show him your progress. and plans.
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Old 10-09-2009, 03:42 PM   #12 (permalink)
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Regardless of Dad wanting to be paid or not. Pay him. It shows good faith, so if you are ever in a bind and need help, it won't be , "well we helped you before, and it didn't make a difference, and we never got paid back". Pay him back, tell him to take mom out for a nice dinner, because you appreciate his help.

Next is definitely the boyfriend. Never good on a relationship. That gives you a pretty good jump on things! WAY TO GO!
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Old 10-09-2009, 04:30 PM   #13 (permalink)
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Dad first.
Always pay back and then you are secure in the knowledge he comes first and foremost and you can get help again when needed.

Plus pay Dad you have money left. Put the balance on BF.

Anyway you can transfer that Dell credit balance anywhere ELSE cause 28.99% is absolute INSANITY!! I would be seriously looking for a change for that Dell....
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Old 10-10-2009, 12:19 AM   #14 (permalink)
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Congrats! Progress made.....and more to come.

Way to go!
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Old 10-10-2009, 12:56 AM   #15 (permalink)
mauimagic is learning to focus on her health.
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Wonderful news congratulations!!

Please pay your father first and then BF.
__________________

2010
Miles walked or biked or treaded water- 22.5
waist - 40/35

February
Project a month -paperwork and taxes
Needlework challenge - crochet hearts - in progress
Groceries - keep track of all $s spent & $400 limit (9.25)
Quilting - Hawaiian Quilt, baby quilt
Sewing - coasters - Done
Water - 100 oz daily
Exercise - daily
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