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Mom Confessions Mom Confessions

Pay off car or CC?

Anonymous
Posted by Anonymous
  • 67 Replies
My dh and I seem to disagree on this. He will be getting his bonus in a few months. We have roughly the same amount on our cc as we do until my car is paid off. (roughly $10,000.....the cc is the most we have ever had on one. We used it to put up a fence in the backyard when we moved here. A must for us) My car will be paid off next October. (it's a $430 payment) Which would you pay off? We are not struggling money wise, but not extrememly well off. We are comfortable. Out of those 2 options, what makes more sense to you?
Posted by Anonymous on Oct. 4, 2012 at 10:52 AM
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Replies (1-10):
StrangeDays
by Gold Member on Oct. 4, 2012 at 10:53 AM
The credit card.
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thehickinhickor
by Platinum Member on Oct. 4, 2012 at 10:54 AM
Lol no help we get one in July still not sure tho our car payment is way lower 175 a month. he took a big pay cut with his full time job so nother sure we don't have CC tho it would be other bills we would be paying off.
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Anonymous
by Anonymous on Oct. 4, 2012 at 10:55 AM
10 moms liked this
Whichever has the higher interest rate. Then put the "extra" money into paying the other bill.
3KidsOneMom
by on Oct. 4, 2012 at 10:55 AM

I would pay the car off

macbudsmom
by Ruby Member on Oct. 4, 2012 at 10:56 AM
1 mom liked this
Pay off which ever has the higher interest rate, guessing the cc.
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jaytee
by on Oct. 4, 2012 at 10:56 AM
The credit card. Especially if it has a higher interest rate which I'm willing to bet it does.
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mommy_me
by ~The Three B's~ on Oct. 4, 2012 at 10:56 AM

 The credit card

LadyBugMom09
by Platinum Member on Oct. 4, 2012 at 10:56 AM
I've always heard that you pay off the biggest debt with the highest interest first.

But if my DH and I disagree on an issue like that, my DH has the last word. GL.
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Roxygurl
by Emerald Member on Oct. 4, 2012 at 10:56 AM
This.

Quoting Anonymous:

Whichever has the higher interest rate. Then put the "extra" money into paying the other bill.
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elle7777
by Ruby Member on Oct. 4, 2012 at 10:57 AM

Which has the highest interest rate? It's usually the cc so that's what I'd pay off.

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