{"id":82,"date":"2008-01-19T23:23:58","date_gmt":"2008-01-20T04:23:58","guid":{"rendered":"http:\/\/www.samcarrara.com\/marketing\/debt-got-you-down-part-2\/"},"modified":"2008-01-19T23:23:58","modified_gmt":"2008-01-20T04:23:58","slug":"debt-got-you-down-part-2","status":"publish","type":"post","link":"http:\/\/www.samcarrara.com\/marketing\/debt-got-you-down-part-2\/","title":{"rendered":"Debt Got You Down? Part 2"},"content":{"rendered":"<p>If you&#8217;re suffering under debt, stick close and learn. If you missed the last post read: <a href=\"http:\/\/www.samcarrara.com\/marketing\/debt-got-you-down\/\">http:\/\/www.samcarrara.com\/marketing\/debt-got-you-down\/<\/a><\/p>\n<p><span style=\"color: rgb(0, 0, 255);\">Here we go&#8230; Part 2<\/span><\/p>\n<p>Now that you&#8217;ve listed out your debt&#8230; You did do that right? <b>Which debts do you pay off first?<\/b> Here are two things to keep in mind:<\/p>\n<ul>\n<li><b>Pay off small debts<\/b>&#8211; Pay off the smallest one and then move on to successive ones. This gives you a sense of accomplishment by being able to mark debts off your list.<!--more--><\/li>\n<li><b>Pay off higher interest rate debts<\/b>&#8211; Start with the highest interest rate debt before lower ones.<\/li>\n<\/ul>\n<p>Let&#8217;s make an example chart of debts:<\/p>\n<table width=\"300\" cellspacing=\"1\" cellpadding=\"0\" border=\"1\" align=\"left\">\n<tbody>\n<tr>\n<td><b>Type<\/b><\/td>\n<td style=\"text-align: center;\"><b>Amount Owed<\/b><\/td>\n<td style=\"text-align: center;\"><b>Monthly Payment<\/b><\/td>\n<td style=\"text-align: center;\"><b>Interest Rate<\/b><\/td>\n<\/tr>\n<tr>\n<td>Home Mortgage<\/td>\n<td style=\"text-align: center;\">$ 79,000<\/td>\n<td style=\"text-align: center;\">$ 905<\/td>\n<td style=\"text-align: center;\">7.3%<\/td>\n<\/tr>\n<tr>\n<td>2nd Mortgage<\/td>\n<td style=\"text-align: center;\">$ 13,575<\/td>\n<td style=\"text-align: center;\">$ 251<\/td>\n<td style=\"text-align: center;\">6.3%<\/td>\n<\/tr>\n<tr>\n<td>Car Loan<\/td>\n<td style=\"text-align: center;\">$ 14,289<\/td>\n<td style=\"text-align: center;\">$ 316<\/td>\n<td style=\"text-align: center;\">2.9%<\/td>\n<\/tr>\n<tr>\n<td>Credit Card<\/td>\n<td style=\"text-align: center;\">&nbsp; $ 7,300<\/td>\n<td style=\"text-align: center;\">$ 609<\/td>\n<td style=\"text-align: center;\">18.4%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>&nbsp;<u>Which has the lowest amount due?<\/u><\/p>\n<p>&nbsp;<i>Credit Card<\/i><\/p>\n<p>&nbsp;<u>Which has the highest interest rate?<\/u><\/p>\n<p>&nbsp;<i>Credit Card<\/i><\/p>\n<p>So for this example it&#8217;s simple. Work to pay off the Credit Card first.<\/p>\n<p><iframe loading=\"lazy\" width=\"300\" scrolling=\"no\" height=\"170\" frameborder=\"0\" class=\"MajikWidget\" src=\"http:\/\/www.majikwidget.com\/mw\/api\/poll1\/poll1.php?id=273448411df1962cba1db6c05b3213c9\"><\/iframe><\/p>\n<p><b>Knock the Debt Down,<br \/>\nSam Carrara<br \/>\n<\/b><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>If you&#8217;re suffering under debt, stick close and learn. If you missed the last post read: http:\/\/www.samcarrara.com\/marketing\/debt-got-you-down\/ Here we go&#8230; Part 2 Now that you&#8217;ve listed out your debt&#8230; You did do that right? Which debts do you pay off &hellip; <a href=\"http:\/\/www.samcarrara.com\/marketing\/debt-got-you-down-part-2\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[32],"tags":[63,184,64,33],"class_list":["post-82","post","type-post","status-publish","format-standard","hentry","category-finances","tag-debt","tag-finances","tag-interest-rate","tag-money"],"_links":{"self":[{"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/posts\/82","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/comments?post=82"}],"version-history":[{"count":0,"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/posts\/82\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/media?parent=82"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/categories?post=82"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.samcarrara.com\/marketing\/wp-json\/wp\/v2\/tags?post=82"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}