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Started By
Message
Word Problem
Posted on 1/21/09 at 1:03 pm
Posted on 1/21/09 at 1:03 pm
Amanda Huginkiss just cleared $3,000.00 from her annual bonus. She wants to put the entire amount toward bills but she's not sure how to distribute.
A) Credit Card $9,500.00 balance @ 9%
B) Loan $1,275.00 balance
C) Loan $1,400.00 balance
D) Credit Card $1,300.00 balance; no interest or payment until April 2009 at which time 22% APR will apply
What say you?
A) Credit Card $9,500.00 balance @ 9%
B) Loan $1,275.00 balance
C) Loan $1,400.00 balance
D) Credit Card $1,300.00 balance; no interest or payment until April 2009 at which time 22% APR will apply
What say you?
9
Posted on 1/21/09 at 1:11 pm to Mr. Shankly
pay off c and d then go out to eat somewhere kinda nice to reward yourself
Posted on 1/21/09 at 1:17 pm to Mr. Shankly
Take $1,701 and pay off as much of (A) as possible. Take the other $1,299 and put it in an interest bearing account; earn one dollar; pay off (D) on April 1st.
This assumes that (B) and (C) are interest free loans.
This assumes that (B) and (C) are interest free loans.
Posted on 1/21/09 at 1:19 pm to Mr. Shankly
Blow it at the casino...
Posted on 1/21/09 at 1:23 pm to Mr. Shankly
Looking at A, B, C, and D, she probably has little to no self control. So:
pay off D, the close the account.
Pay off C, close the account.
pay down B as much as possible and roll the remainder of B into A.
pay off D, the close the account.
Pay off C, close the account.
pay down B as much as possible and roll the remainder of B into A.
Posted on 1/21/09 at 1:44 pm to Mr. Shankly
quote:
What say you?
I'm no debt reduction wizard but that's a lot of debt, so increasing income or decreasing spending is also in order.
This post was edited on 1/21/09 at 1:45 pm
Posted on 1/21/09 at 1:44 pm to Mr. Shankly
quote:
Amanda Huginkiss
this thread is useless without pics.
Posted on 1/21/09 at 2:06 pm to clamdip
Amanda Huginkiss
Posted on 1/21/09 at 2:22 pm to Mr. Shankly
Amanda takes cheap flight to Bimini and rents cheap hotel during Marlin Contest. Amanda meets rich old geezer and marrys him. Rich old geezer pays off Amandas bills from petty cash. Amanda divorces rich old geezer and takes him to the cleaners. Rich old geezer is happy cause he still has plenty of dough and is looking for another Amanda. Amanda is happy till she meets a good looking young hunk that takes her to the cleaners. Amanda goes back to Bimini...
It happens somewhere every day. :)
It happens somewhere every day. :)
Posted on 1/21/09 at 2:44 pm to Colonel Hapablap
quote:
Looking at A, B, C, and D, she probably has little to no self control. So:
pay off D, the close the account.
Pay off C, close the account.
pay down B as much as possible and roll the remainder of B into A.
: kige :
I like the idea of treating herself to something. Take $50 and buy something for her, using cash.
Posted on 1/21/09 at 3:01 pm to MileHigh
MileHigh, if she has no self control she would be better off with the rich old geezer! Maybe if she really works at it she can send the geezer out with a smile on his face and then Amanda can rent the young hunks as required?
Posted on 1/21/09 at 6:35 pm to Mr. Shankly
Over on the OT the solution to everything is to put it in her butt.
But not being a butt guy, and given that D starts charging horrendous interest in just three months, I'd pay that off first.
But not being a butt guy, and given that D starts charging horrendous interest in just three months, I'd pay that off first.
Posted on 1/21/09 at 8:34 pm to Mr. Shankly
quote:Absolutely D first, if Amanda ran up 9,500 in credit card debt, it is doubtful that the high interest card will be paid off within six months, at which point the higher rate begins to really hurt. The remaining $1700 should go towards the other credit card where it will save $12.75 per month, which is a great return on $1700.
What say you?
This post was edited on 1/21/09 at 8:40 pm
Posted on 1/21/09 at 8:39 pm to MileHigh
quote:I wonder how much of the $10,800 in credit card debt was from treating themselves to things. The best treat would be getting closer to out from under the grip of the CC companies.
I like the idea of treating herself to something.
Posted on 1/22/09 at 9:53 am to eelsuee
quote:
I wonder how much of the $10,800 in credit card debt was from treating themselves to things.
Doesn't matter why, it's a sunk cost. Could have been to pay for emergency helicopter evacuation that insurance didn't cover and she had no other way of paying. She should pay it off pronto regardless.
Posted on 1/22/09 at 11:57 am to foshizzle
quote:You're right, that is probably what happened.
Could have been to pay for emergency helicopter evacuation that insurance didn't cover
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