http://www.paidtwice.com/2008/01/25/were-interest-order-how-about-you/#comment-12606 unequivocal Fri, 25 Jan 2008 17:57:31 +0000 http://www.paidtwice.com/2008/01/25/were-interest-order-how-about-you/#comment-12606 Our case is slightly different. We are infact paying off the debt that has no interest - the money that we borrowed from our parents and the credit card debt that has 0% interest rate for another 8 months. Looking at it from another perspective, these are also the debts with the smallest amounts. Our approach would never be the same - sometimes it would be interest rates and other times it would be the total debt amount. We would concentrate on these two which we are expecting to be done with in the next couple of months. Once this is over, we are going to boost our emergency fund. And after that we are going to pay down 2 higher interest rate debts - our 2nd mortgage and auto loan. As you have mentioned, it is about what bothers you most. Our case is slightly different. We are infact paying off the debt that has no interest - the money that we borrowed from our parents and the credit card debt that has 0% interest rate for another 8 months. Looking at it from another perspective, these are also the debts with the smallest amounts. Our approach would never be the same - sometimes it would be interest rates and other times it would be the total debt amount. We would concentrate on these two which we are expecting to be done with in the next couple of months. Once this is over, we are going to boost our emergency fund. And after that we are going to pay down 2 higher interest rate debts - our 2nd mortgage and auto loan. As you have mentioned, it is about what bothers you most.

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