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Personal Finances / Credit Cards and Consumer Debt
|Subject: Re: Should I pay off a cc with my ING fund?||Date: 1/23/2006 7:21 PM|
|Author: FIgirl||Number: 219137 of 311363|
Hey everybody, thanks for all your replies!
Lael, to answer your question, my snowball is fixed at a minimum of $2000/month. This is independent of the leftover $$ at the end of the month.
I have temporarily reduced my 403b contribution in order to throw an additional $600 at the snowball, so until/unless I up the 403b again, the fixed snowball minimum is $2600.
To top it off, my Sallie Mae loan is in disaster forebearance (because I live in a hurricane-hit state) until March, so for the next two months my loan payment is going to the snowball as well, for a total of $2950.
But unless I get disabled or something truly awful, the snowball will not go below $2000.
From everyone's replies, I am getting the sense that this is not a pure numbers question but a "what makes me able to sleep at night" question. I think I'll sleep better at night if I have a more concrete plan, so I'm going to do some more math and try to forecast what exactly it would take to accelerate the cc paydown while also building the ING fund and funding the Roth. I don't think I can really do all three - although I bet Xray could make it work! - but if I can come up with a solid plan to do 1 or 2 things without a lot of economic risk-taking, I will.
Thanks again Fools! I feel so lucky that I have such a great resource in this board. I'll keep you posted.
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