Becoming Debt Free in 2009

November 28, 2008

Working on the 2009 Budget – Skipping Black Friday

Filed under: Budget,Debt,Journey to Debt Freedom — ambercouric @ 10:40 am
Tags: , ,

I have decided to skip all of the Black Friday sales and work on my budgets.  I’ll do a little on the December budget and goals but mostly concentrate on the 2009 budget and goals.

I hate car payments.  I just hate them.  But I am wondering if I should pay off my credit card first.  The interest is about the same.  I think the card is 3.99% forever and the car is 4.99%.  Currently, I am almost two years ahead on the car payment. 

I also think I am just going to go ahead and pay off the hospital even though there is no interest.

Advice? Opinions?



  1. Hi there-paying off the hospital does just leave you with 2 main debts, which is a good idea. The % rates on the loan and credit card are very good indeed. Good luck with the budgeting for 2009.

    Comment by sharon rose — November 28, 2008 @ 11:01 am

  2. The rates are very close on the car and the credit card; which has the higher minimum payment? If it were me, I would probably aim to pay off that one first to give myself more freedom with my cashflow. Just a thought

    Comment by Money Minder — November 28, 2008 @ 3:35 pm

  3. wow ~ look at you!! skipping Black Friday — there weren’t a ton of deals to get… very disappointing.. so you didn’t miss much! lol

    I know that people would say to pay off ccs first, but in my opinion getting rid of car payments is the most rewarding & then it gives you more $ to roll in…

    good luck – I know I need the luck when it comes to my December budget – it is pretty scary.

    Comment by jpkittie — November 29, 2008 @ 8:50 am

  4. I would definitely pay off the hospital. It leaves extra money to pay on the other bills. If your monthly payment is higher on your car loan, I would pay that off first, to free up extra money when that is paid off. We were so thrilled to pay off our cars…what a large amount it was! $950 a month! Of course, we managed to transfer that payment to other bills…daughter’s orthodonture…etc.!

    You’ll make it! You sound very committed! Great job not going out on Black Friday…you’ll soon see that those sales will stay around until Christmas!

    Comment by Sharon — November 29, 2008 @ 2:25 pm

  5. I would always choose to pay off the higher interest debt first. Additionally, the fact that you have such a visceral reaction to the car payment makes me feel like you should retire that one first!

    Comment by Mary@SimplyForties — November 29, 2008 @ 11:31 pm

  6. You’ll always save the most paying off in order of highest interest, but go with whatever makes you happy really. It’ll all get done eventually!

    Comment by Slinky — December 1, 2008 @ 12:47 pm

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