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 I have two credit cards, one at $6,000 and one at $8,000. Plus a home equity loan of $36,000. I try to make payments well above minimums on all. My question would be, would it be better to make less amount on two of the balances and put extra amount on the lowest balance to pay it off sooner and then transfer that payment to the next and so on? Or just stick to the game plan? Thanks.
Michael
Waycross, Ga.
 Michael,
Tackle them one at a time. Pay minimums on the $8,000 credit card and the $36,000 home equity loan while you put every dime you can toward the $6,000 credit card. When that's paid off, tackle the $8,000 credit card and when that's gone tackle the home equity loan. Focus is a powerful thing. The faster you pay off one debt, the more motivated you are to attack the others.
| -- Posted: March 24, 2008 |
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