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SoulMaster
Posts: 993
Registered: ‎11-08-2011
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Re: Help!! I need to pay off my credit cards!

I hate to be a thorn in this thread since it's so well developed, but do you have a written, monthly budget?  Ideally, you know every penny you're earn and every penny your going to spend before the month even starts (not including real, actual emergencies, example: new tires/brakes are not an emergency).  You need to have a real budget before you start the snowball so you know exactly how much you can put toward your debt. (and so you have a much better chance of finishing the plan). 

 

Once you have a budget... HECK YES, snowball it!

 

If you haven't read it yet, a lot of people in this thread are referring to the book Total Money Makeover by Dave Ramsey, might be worth spending the $10-$20 on.

 

Cheers,

 

-SM

 

 

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of 3/15/14 All 700+. Last CR pull from a lender(housing) was mid-score 729.
Goal Score: 700+ - reached.

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