2 thoughts on “Step 2: Pay off your Credit Cards – Written a while a go

  1. Hey bud…I was wandering through this blog of yours and found your finanical ideas thoughtful, but I thought I’d share a link for other folks out there:

    http://www.daveramsey.com

    or specifically, the 7 baby steps:

    http://www.daveramsey.com/etc/cms/baby_steps_2867.htmlc

    (1) $1,000 to start an Emergency Fund
    (2) Pay off all debt using the Debt Snowball
    (3) 3 to 6 months of expenses in savings
    (4) Invest 15% of household income into Roth IRAs
    and pre-tax retirement
    (5) College funding for children
    (6) Pay off home early
    (7) Build wealth and give!

    Using this approach, we have reduced all debt (except our mortgage) by 50% is 4 months, and we have managed to continue to donate money to worthy causes.

    Cheers,

    Sco

  2. Sco,

    Thanks for the comment!! (and on my birthday!). I totally agree with the baby steps…those are perfect.

    I am doing my refi to payoff my house as soon as I can now…after that, I need to sell my RV.

    Laters,

    Jeff (Yooper)

Comments are closed.