PinchingPennies

Saving money to pay off student loans and consumer debt

Credit Cards and Student Loan Debt Oh My!

Or an update.

My student loan balances have been going down steadily but the credit cards have been a bit of a challenge. When we moved, I had to put part of the move on the credit cards and paying down the balances has been slow going. If I was following Dave Ramsey, he’d say to pay off my smallest student loan to gain momentum and then pay off all debt from smallest to largest. I tend to pay things off from the biggest interest rate to the smallest but that would put my student loans dead last.

Since my smallest student loan is “only” around $600, I think I will focus on knocking that one off first. Maybe Dave Ramsey will be right and it will get the ball rolling so to speak. Even if he is wrong and I am still discouraged, that student loan will never come back the way my credit card balances did. 😦

Updated my debt chart to keep myself honest.

April 3, 2011 Posted by | Credit Cards, Student Loans | , , | Leave a comment