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Frustrated - Help Me Stay Focused

May 6th, 2011 at 06:28 am

So, I think I could have an extra $800 to work with this month. What I would like to do is wipe out the Goodyear and the Doctor Bill, but I know I should be slapping the extra money right on the Discover.

It always feels good to get straggling bills out of the way, like the Goodyear and the Doctor Bill, but I am not paying any interest on them.

But, the Discover I have been paying $105 on every month, with $80 of it going to interest. So, of course, I should be paying as much as I can to get that darn Discover debt eliminated, then my snowball would really be rolling.

So frustrating.

6 Responses to “Frustrated - Help Me Stay Focused”

  1. momcents Says:


    I'd pay down the Discover simply because of the interest rate. Goodyear and the medical bill will cost you less in the long-run. Or even $700 to Discover and $50 to each of the no interest ones would be better than nothing.

  2. MonkeyMama Says:

    I don't think it really matters either way.

    Obviously the Discover is logical, BUT if you really feel better paying off the stragglers - do it. Sometimes emotions are more important than math.

    That said, meditate on the Discover card a while and how awesome it would be to be rid of it, with all that interest!

  3. creditcardfree Says:

    Well, your goal is less debt. Either way you win!

    If your snowball rolls faster without the Discover, it probably is the way to go. I sure won't harp on you if you need the motivational factor of two less debts though either!

  4. marvholly Says:

    Get RID of the highest interest debt first.

  5. ceejay74 Says:

    Be strong--put it toward Discover! Smile I have the same problem, where we have a low balance on a student loan that I'm really itching to pay off--but it has the lowest interest rate, so I'm forcing myself to pay down the higher-interest rate student loan with the massive balance instead.

    It's not a huge amount of money saved in the long run, probably, but you'll feel so much smarter if you keep at that Discover balance till it's gone!

  6. Jerry Says:

    Interest first makes the most sense, because it leads to the best numbers-result... however, there is also something to what MonkeyMama said about paying off what emotionally feels right! If the doctor bill is to the doctor, and not to an insurance company, I have had very good results in making payment arrangements with them in the past. Either way, you can't really go wrong!
    Jerry

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