 Is it true, that if I pay-off a credit card at the end of every month, I won't have to pay any interest? |
| I'm thinking of getting a credit-card but I'm wary because of the horror stories I hear about people destroying their lives with it. I want to know if this is really true about paying off a ... |
|
 Can you get a job when your 13? |
i need about 3000 dollars by may..........and i don't know how to get it.....i know that 3000 dollars in a 13 years olds hands is alot but i really need it.....i can't babysit !
... |
|
 If you won 50 000 dollars would you pay off your debts, or....? |
| or would you put it in an investment fund and let it build up THEN pay off your debt? Or would you just spend it?... |
|
 "Healthy" debt? |
I have heard that there is such a thing as "healthy" debt. I am just wondering- if it actually exists -how much/what kind of debt is healthy to have?
I'm a student with no ... |
|
 Can the balance on a loan increase as you pay? |
| The interest must be accumulating at a faster rate than I can pay it down, as the car loan was approximately $30,000 at a rate of 7% interest. I just checked with the bank, and after making 7 months ... |
|
 Hey all....In January of this year, my best friend asked me to borrow $300.00? |
| because she needed to go to the doctor. She thought she might have kidney stones. She does not have health insurance, so I did not hesitate to help her out. I gave her a check and she cashed it and ... |
|
 I just reached 50k!!!? |
| My bank account has just gone over £50.000...and the interest rates are increasing all the time...how should I invest my money?... |
|
| People are so shallow these days? |
| if you met someone and you truly got along with this person and yo could laugh and be yourself, and then you found out how much they made each year, and it was not a lot AT ALL....would this change ... |
|
 What's a quick way to make $50? |
| I need a LEGAL way to make $50 by tomorrow afternoon. Any ideas?... |
|
 Help, I need impartial opinions! How much should I pay my friend for his lawn mower? (see details)? |
He bought the mower 2 years ago and has only used it once. He paid $150 for it. If he sold it at this point, he might get $50-$100 for it. A new one would cost me about $200.
So what... |
|
 What's a good way to not spend money? |
| I am trying to save up to go shopping, but everytime I get money, I spend it. I got 10 bucks, and in 2 days I spent it on 60 chocolate covered pretzels for other people. (it was for valentines day) W... |
|
 I need to make money!? |
| i need to make money (no internet surveys, thanks you) in some way that a 6th grader can do.I dont want to work for one of u(sorry) but i already have $50 from v-day so if u have ways to spend money ... |
|
 Are pensions worth investing in? |
Additional Details
Thanks DCGIRL - I am UK based.... |
|
 Do you think Money is the devil??? |
| My little cousin (7years old) told me that money was the devil because people fight over it and have to work so hard just to give it away...what do you think???... |
|
|  |
christie43551 | Pay off credit card or pay off my car? |
I have been fortunite enough the last 6 months to be able to pay down my debet and I know to pay off the highest interest rate first. However I have a car payment that is $148.00 monthly @ interest rate 7&1/2% I can pay off the car loan by Febuary 2007 or I can pay off my 11.5% credit card in August or late 2007. The part about freeing up $148.00 a month so I can pay more towards my credit card seems like a better idea do you agree
I owe the credit card $9.000, and I owe $5000.00 on an a 2002 Impala blue book value $8.000.00
Can you give a sweet little girl some help
Thanks and many Hugzzz
Kristy |
 |
 
ernie_fergler
|
Pay down the credit cards, and cancel them. The interest rate is TOO HIGH. |
|
zoo2626
|
work on the card. the interest on that will continue to compound and it will take longer to pay off. |
|
new to soccer
 |
Pay off the higher interest credit cards first.
You will pay more in intrest if you pay off the car first.
Get yourself out of debt and then just buy what you can afford. |
|
NC
 |
Take care of the credit cards first. |
|
kiddo shorty
 |
The car will help build your credit, go for the cards, DON'T cancel them, that shows on your credit report and if you keep canceling one card and getting another that hurts you. |
|
smiley
|
Have you thought about consulidating your debts with a loan so you only have to make one payment to the bank? The interest rate should be lower too. |
|
homeschoolmom
|
The difference in interest saved is surprisingly small. I would advise you to pay off the car and then start paying that $148 on the credit card. Put all you can on the car and see if you can't pay it off even sooner (can you do $200/month?)
We paid off our $20,000 48-month car loan in 20 months by paying a bit extra each month. Now we've moved all that money to our last debt (student loans - UGH!) and should be debt-free by mid-2007.
You can do this! Go for it! |
|
Thundercat
|
Paying down the high interest rate would be the choice based on the math alone. But there is also the factor that the lower debt amount can be eliminated first which will give you larger sense of relief. As long as you continue on the good path of debt reduction and have eliminated the behaviors which put you into that position, whichever one you choose to pay first really doesn't matter. It is the lesson of money you will have learned which will be the most valuable next to being debt free. |
|
Kitty
 |
First of all, congrats on paying off bills- it is such a good feeling!
I know it is tempting to free yourself from that $148 a month, but I would still stick to your first thought which was paying off the higher interest rate. In the long run, even if you pay off the car loan, you are still paying more on interest with the credit cards.
Also, if possible, you could get a loan to consolidate the two loans with a lower interest rate. I just got one through ING direct for a 6.5% to pay off other c.cards.
Good luck either way sweetie! |
|
timmyshawn76
|
you could pay the credit card, then use it to pay for the car... could save you a month's interest anyways. |
|
klaw5806
 |
Your credit card debt has both the higher interest rate and balance. If you have an opportunity to make a substantial payment towards one of them, I think it would be prudent to work on your credit card debt first. Remember that the higher the principal balance on a credit card, the more in interest you are paying in terms of actual cash output per month, while the car loan is set up as an amortized schedule and you know what that is going to cost, making it easier to budget. Besides, while your car loan will help you some in the overall credit realm, paying down a large credit card debt will help you A LOT when it comes time for a credit report. Besides, paying off the credit card, or even paying it down significantly, will put you in a good position to negotiate with the credit card companies for a lower interest rate. Hope this helps you make a wise decision. Good luck. |
|
SHARRON N
|
i WOULD TRY AND PAY OFF MY CREDIT CARD THE INTEREST WILL GET YOU ALIVE. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
12 | 36 minutes(s) ago
| | | |
12 | 37 minutes(s) ago
| | | |
14 | 2 hour(s) ago
| | | |
12 | 5 hour(s) ago
| | | |
12 | 6 hour(s) ago
| | | |
1 | 8 hour(s) ago
| | | |
11 | 9 hour(s) ago
| | | |
12 | 2 day(s) ago
| | | |
1 | 3 day(s) ago
| | | |
12 | 1 week(s) ago
| |
|
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
