I spent some time today going through what I owe and to whom.  It was a bit annoying looking at a few credit card accounts and realizing that the balances aren’t really going down that much each month.  I know a few sites say you should pay off the smallest CC first, then roll those payments into the next one on the list.  I have one CC with a balance of $1900 and a ridiculous interest rate of 20%, I really need to pay this one off first.

Heres what I owe:

• Nautilus  $1900 @ 20%
• Discover $2600 @ 9%
• Geico CC $1645 @ 12%
• Sears $833 @ 8%
• Circuit City @ $931 12%
• Motorcycle Loan @ $7095 @ 5%
• Car Loan $28,325 @ 8%

Total debt is $43,314

Wow, I need to make a dent in that %20 one fast, it’s killing me. I was going to pay off the Sears card this week but I think that money should go towards Nautilus.  I’ll do minimum on everything paying off the cards in this order; Nautilus, Circuit City, Geico, Discover then Sears.

Good Idea?  If anyone has a suggestion I would love to hear it.

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