Comments on: Welcome WSJ Readers: 6 Tips for Life After College

By: Jenny

Jenny — Mon, 13 Apr 2009 18:42:28 +0000

That works too! I like the idea of building some confidence and momentum – and it’s one less bill to think about

By: Jenny

Jenny — Mon, 13 Apr 2009 18:42:00 +0000

That works too! I like the idea of building some confidence and momentum – and it’s one less bill to think about

By: tom

tom — Mon, 13 Apr 2009 18:37:01 +0000

Some people may choose to pay off the smallest balance to get the momentum going for them, i’ve done it myself.

By: tom

tom — Mon, 13 Apr 2009 18:37:00 +0000

Some people may choose to pay off the smallest balance to get the momentum going for them, i’ve done it myself.

By: Jenny

Jenny — Mon, 13 Apr 2009 16:55:09 +0000

Tom - so sorry for not replying sooner! I thought I had for some reason... Anyhow - when someone has debt, I suggest they prioritize the debt with the highest interest rate first (usually credit cards), and worry about the debt with lowest interest rates last (usually student loans). Even while paying down debt, I definitely recommend that people also contribute to a savings account (especially an emergency fund) - you never know when you will need the cash. There's a great post about this at The Simple Dollar called Get Rid of Debts Slowly but Surely.

By: Jenny

Jenny — Mon, 13 Apr 2009 16:55:00 +0000

Tom – so sorry for not replying sooner! I thought I had for some reason…

Anyhow – when someone has debt, I suggest they prioritize the debt with the highest interest rate first (usually credit cards), and worry about the debt with lowest interest rates last (usually student loans). Even while paying down debt, I definitely recommend that people also contribute to a savings account (especially an emergency fund) – you never know when you will need the cash.

There’s a great post about this at The Simple Dollar called Get Rid of Debts Slowly but Surely.