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Old 04-13-2008, 05:48 PM
wowitsdark wowitsdark is offline
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Join Date: Nov 2005
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I would start by paying the minimum payment on #3, and putting $300/month towards #2. It'll be paid off in ten months.

Then put $300/month towards #3 for the next six months, and that debt will be down to about $2,400. At that point, the vehicle will be paid off in full from just your monthly payments if my math is correct. It may take one more month... but that should do it.

At that point you'll have $550 available to pay towards that $2,400 debt. In five months, it should be wiped out and you'll be debt free in 19 months.

The only "new" sacrifice you'll need to make to do this is to come up with $90 to make the minimum payment on #3 for those ten months you're paying off #2. If you can do that, and then even after the ten months keep using that $90, you can put $390/month towards #3 (and then $640 towards #3 once the truck is paid off) and you can shorten the life of #3 by a couple of months.
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