Geek Book Reviews

Maxwell really sets the bar for leadership and I l...

2010-05-26T19:49:07.358-05:00

Maxwell really sets the bar for leadership and I like the way he paves paths and blazes trails for others.

Hi there, I would like to talk with you about som...

2010-04-17T18:20:46.538-05:00

Hi there,

I would like to talk with you about some fantastic conservative fiction novels we're releasing through the publishing company I represent. Would you please drop me a line at tristi@valorpublishinggroup.com

Thanks!

Thanks for the kind words about my book!

2010-03-13T05:17:36.281-06:00

Thanks for the kind words about my book!

I agree that it makes the most sense mathematicall...

2010-02-23T23:07:31.406-06:00

I agree that it makes the most sense mathematically to pay off high interest debts first. However as Dave says, if we always did things that made the most math sense we wouldn't be in debt. The reasons for paying small loans off first are psychological. It gives people small victories to build on and it also improves monthly cash flow which is a great motivating factor.

I like the general idea, but step 2 is not a good ...

2010-02-23T19:39:26.347-06:00

I like the general idea, but step 2 is not a good idea. Building confidence in paying off your debt is supposed to be a magic bullet to people getting their finances in order? No. This is what you should do:

Arrange your debt in descending order of interest (ie: highest interest first), REGARDLESS OF THE AMOUNT OWED ON THE CARD. Pay off your debt from the top down. Why? Because even if you have $10 on a card that charges 20% interest, moving the money to a card that charges 10% interest will cost you money, albeit very little in this example. Simply pay the minimum balance on all of your debts each month, except for the one with the highest interest which you will throw all of your extra money at.