Current Events > How would you approach paying off $50K in debt?

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wackyteen 04/18/23 7:08:16 AM #1:	Which method? Presume you are capable of making the additional payments Focus on higher (double the lower) interest rate, shorter personal loan by paying an additional $500 a month Focus on lower interest rate, longer car loan by paying an additional $500 a month Focus on both loans by paying 1.5 minimum payments on each loan Focus on both loans by adding the amount paid in interest each month on top of the minimum payment Other focus Just pay the minimum lmao Which method? Presume you are capable of making the additional payments - Results (35 votes) Focus on higher (double the lower) interest rate, shorter personal loan by paying an additional $500 a month 57.14% (20 votes) 20 Focus on lower interest rate, longer car loan by paying an additional $500 a month 2.86% (1 vote) 1 Focus on both loans by paying 1.5 minimum payments on each loan 2.86% (1 vote) 1 Focus on both loans by adding the amount paid in interest each month on top of the minimum payment 2.86% (1 vote) 1 Other focus 8.57% (3 votes) 3 Just pay the minimum lmao 25.71% (9 votes) 9 How would you approach? --- The name is wackyteen for a reason. Never doubt. <cite>wackyteen posted [p:972916110] in How would ... [t:80415935]...</cite> <quote> Which method? Presume you are capable of making the additional payments Focus on higher (double the lower) interest rate, shorter personal loan by paying an additional $500 a month Focus on lower interest rate, longer car loan by paying an additional $500 a month Focus on both loans by paying 1.5 minimum payments on each loan Focus on both loans by adding the amount paid in interest each month on top of the minimum payment Other focus Just pay the minimum lmao Vote View Results Which method? Presume you are capable of making the additional payments - Results (35 votes) Focus on higher (double the lower) interest rate, shorter personal loan by paying an additional $500 a month 57.14% (20 votes) 20 Focus on lower interest rate, longer car loan by paying an additional $500 a month 2.86% (1 vote) 1 Focus on both loans by paying 1.5 minimum payments on each loan 2.86% (1 vote) 1 Focus on both loans by adding the amount paid in interest each month on top of the minimum payment 2.86% (1 vote) 1 Other focus 8.57% (3 votes) 3 Just pay the minimum lmao 25.71% (9 votes) 9 Show Voting Form function poll_vote() { var vote_option = $("input[name='poll_vote']:checked").val(); if(!vote_option) return; $.ajax({ type: 'POST', url: '/ajax/forum_poll_vote', data: { option: vote_option, board: '400', topic: '80415935', message: '0', key: '6c1fbe50' }, success: function(response) { if(response.error) { alert(response.error); } else { $("#poll_vote").hide(); $("#poll_results").html(response.html).show(); } } }); } function view_results_legacy() { $("#poll_vote").hide(); $("#poll_results").show(); } function hide_results_legacy() { $("#poll_results").hide(); $("#poll_vote").show(); } How would you approach? </quote> ... Copied to Clipboard!
wackyteen 04/18/23 1:20:32 PM #2:	1/3 of ce just eating interest --- The name is wackyteen for a reason. Never doubt. <cite>wackyteen posted [p:972921782] in How would ... [t:80415935]...</cite> <quote>1/3 of ce just eating interest</quote> ... Copied to Clipboard!
NoxObscuras 04/18/23 1:24:06 PM #3:	The poll options are really fucking specific for how little information you give... --- PSN - NoxObscuras Z490 \| i9-10900K \| EVGA 3080 FTW3 Ultra \| 32GB DDR4 3600 \| 4TB SSD <cite>NoxObscuras posted [p:972921837] in How would ... [t:80415935]...</cite> <quote>The poll options are really fucking specific for how little information you give...</quote> ... Copied to Clipboard!
Pitlord_Special 04/18/23 1:28:32 PM #4:	Pay minimums while letting all my extra cash flow ride on bitcoin. The returns will outstrip whatever you would save on interest. --- Posted from my iPhone 13 <cite>Pitlord_Special posted [p:972921919] in How would ... [t:80415935]...</cite> <quote>Pay minimums while letting all my extra cash flow ride on bitcoin.The returns will outstrip whatever you would save on interest.</quote> ... Copied to Clipboard!
MacadamianNut3 04/18/23 1:50:12 PM #5:	Very carefully... --- Roll Tide & Go Irish <cite>MacadamianNut3 posted [p:972922338] in How would ... [t:80415935]...</cite> <quote>Very carefully...</quote> ... Copied to Clipboard!
Offworlder1 04/18/23 1:50:31 PM #6:	I would not put myself in such a stupid fucking situation by having all that debt. --- "Always two there are, a master and an apprentice" 3DS FC: 1564 - 7512 - 1815 , Switch FC: SW- 2262- 2551- 5244 <cite>Offworlder1 posted [p:972922344] in How would ... [t:80415935]...</cite> <quote>I would not put myself in such a stupid fucking situation by having all that debt.</quote> ... Copied to Clipboard!
wackyteen 04/18/23 3:20:19 PM #7:	Offworlder1 posted... I would not put myself in such a stupid fucking situation by having all that debt. Life hits like a truck sometimes. Sometime you can have a perfectly logical, reasonable plan and then life is like "Haha but like fuck you" --- The name is wackyteen for a reason. Never doubt. <cite>wackyteen posted [p:972924027] in How would ... [t:80415935]...</cite> <quote>Offworlder1 posted... </cite><quote>I would not put myself in such a stupid fucking situation by having all that debt.</quote>Life hits like a truck sometimes. Sometime you can have a perfectly logical, reasonable plan and then life is like "Haha but like fuck you" </quote> ... Copied to Clipboard!
realnifty1 04/18/23 3:32:40 PM #8:	Loan consolidation, pay as much as possible above the minimum every month after establishing an emergency fund. <cite>realnifty1 posted [p:972924277] in How would ... [t:80415935]...</cite> <quote>Loan consolidation, pay as much as possible above the minimum every month after establishing an emergency fund.</quote> ... Copied to Clipboard!
Garioshi 04/18/23 3:32:57 PM #9:	Fucking die --- "I play with myself" - Darklit_Minuet, 2018 <cite>Garioshi posted [p:972924283] in How would ... [t:80415935]...</cite> <quote>Fucking die</quote> ... Copied to Clipboard!
knightmarexx 04/18/23 3:33:19 PM #10:	I'd have to eat into my $500,000 savings.... and just pay it off, outright (depending on the interest, obviously... but unless it's a very cheap it's usually better paying off than waiting). <cite>knightmarexx posted [p:972924289] in How would ... [t:80415935]...</cite> <quote>I'd have to eat into my $500,000 savings.... and just pay it off, outright (depending on the interest, obviously... but unless it's a very cheap it's usually better paying off than waiting).</quote> ... Copied to Clipboard!
Irony 04/18/23 3:34:01 PM #11:	Die in poverty --- I am Mogar, God of Irony and The Devourer of Topics. <cite>Irony posted [p:972924306] in How would ... [t:80415935]...</cite> <quote>Die in poverty </quote> ... Copied to Clipboard!
TMOG 04/18/23 3:34:49 PM #12:	Garioshi posted... Fucking die Honestly, yeah I wouldn't even be able to pay off a $500 debt right now <cite>TMOG posted [p:972924322] in How would ... [t:80415935]...</cite> <quote>Garioshi posted... </cite><quote>Fucking die</quote>Honestly, yeahI wouldn't even be able to pay off a $500 debt right now</quote> ... Copied to Clipboard!
Trumpo 04/18/23 4:57:37 PM #13:	Just get a 20 year old shitbox --- Lancool II \| Z690 Tomahawk \|12700K \| Fuma 2 \| RTX 3070Ti \| 16GB 3600MHz \| FireCuda 530 1TB \| Inland NVMe 1TB \| RM750x <cite>Trumpo posted [p:972926106] in How would ... [t:80415935]...</cite> <quote>Just get a 20 year old shitbox </quote> ... Copied to Clipboard!
bigblu89 04/18/23 5:00:55 PM #14:	I need more detail. But assuming you have zero savings you can dip into that can pay off a good chunk, I'd hammer the one with the lower balance and get that one paid off first. The less balls you have to juggle the better. --- It takes zero effort to be a good person. <cite>bigblu89 posted [p:972926169] in How would ... [t:80415935]...</cite> <quote>I need more detail.But assuming you have zero savings you can dip into that can pay off a good chunk, I'd hammer the one with the lower balance and get that one paid off first. The less balls you have to juggle the better.</quote> ... Copied to Clipboard!
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Current Events > How would you approach paying off $50K in debt? (+) Yeah! (+)

Current Events > How would you approach paying off $50K in debt?