The post whore thread.

[HoneyBadger]

Wait your car is $1800/month? You're kidding right?

That's how much I'm currently paying on it. Actual payment due is $430/mo, but I'm dumping $1800/mo on it to get paid off ASAP.

[Irving]

Wait your car is $1800/month? You're kidding right?

It's an Xterra, and you thought Toyotas were expensive. I always over paid car payments as well. I've been over paying my mortgage by a few thousand dollars every year and it takes a 30 year mortgage down to something like an 18 year mortgage.

These conversations really have to be framed in the state of mind that there are more than one way to skin a cat. For example, even though I almost zero money in any retirement fund (due to previous job loss and working at places that didn't provide), I'm not really worried be because if things got very bad, I could move in with in-laws and immediately rent my house for $1200-$1500 a month, which would easily pay my mortgage that is only $870 a month.

[bogie]

Are you guys doing debt stacking?

[HoneyBadger]

I snowballed. None of the interest rates on my debts were significantly different. Plugging the numbers it was a $206 difference over 4.5 years and $105k. Barely a drop in the bucket for me.

[HoneyBadger]

Stacking is mathematically smarter, but as I said above (which just echoes Dave Ramsey) personal finance is 80% behavior and 20% knowledge. Gaining the momentum and motivation from paying off the smallest debt is much more valuable to me than my $206.

[Irving]

I had a lot of debt and did the snowballing method a few years ago. It worked so well for me that I started telling other people about it. Then one day I decided to check out Dave Ramsey and found that was what he has been promoting for years. I can second that the system does work to mentally condition yourself and actually get you some where against your second. Doubly so since I figured it out on my own before thinking to ask.

What is the debt stacking method?

[HoneyBadger]

I had a lot of debt and did the snowballing method a few years ago. It worked so well for me that I started telling other people about it. Then one day I decided to check out Dave Ramsey and found that was what he has been promoting for years. I can second that the system does work to mentally condition yourself and actually get you some where against your second. Doubly so since I figured it out on my own before thinking to ask.

What is the debt stacking method?

I had to look it up. Whereas Dave Ramsey suggests paying debts smallest to largest (in amount), "stacking" is where you order them largest to smallest in terms of interest rate, so you pay off the highest interest debts first.

[Great-Kazoo]

I had to look it up. Whereas Dave Ramsey suggests paying debts smallest to largest (in amount), "stacking" is where you order them largest to smallest in terms of interest rate, so you pay off the highest interest debts first.

Very Interesting
Outside a mortgage, we have no debt. However i also have no retirement fund. Oh well. Can't say i didn't enjoy life to the fullest over the years.

Nice to see you have long range plans, one of which doesn't require working in the later years. Hopefully

[hghclsswhitetrsh]

I see no budget for cocaine and strippers.

Edit: kazoo addressed it.

[Great-Kazoo]

I see no budget for cocaine and strippers.

Edit: kazoo addressed it.

I did?? The smart person has strippers bring their own cocaine. Or so i read, in playboy, sometime back. For the articles, no really, i mean it.