Comments on: The Cost of Having Too Many Debt Accounts http://www.debtgoal.com/blog/the-cost-of-having-too-many-debt-accounts/ Debt Organized - The Personal Finance Blog on Debt Fri, 16 Jul 2010 03:09:36 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: randomguy http://www.debtgoal.com/blog/the-cost-of-having-too-many-debt-accounts/comment-page-1/#comment-8370 randomguy Fri, 25 Sep 2009 16:45:21 +0000 http://www.debtgoal.com/blog/?p=1277#comment-8370 interesting article interesting article

]]> By: Milne http://www.debtgoal.com/blog/the-cost-of-having-too-many-debt-accounts/comment-page-1/#comment-8363 Milne Sun, 13 Sep 2009 22:57:38 +0000 http://www.debtgoal.com/blog/?p=1277#comment-8363 The most effective way to make debt stacking work is to open a separate bank account, WITHOUT CHECKS !!! Direct deposit a fixed amount to this account each month and create autopayments from this account. Set the Autopayments for $10 above the latest minimum and 5 days before the due date so that the payment will always be made on time ... even when you forget. When the bill comes in reset the payment to minimum on each account. Make a second payment on the target high interest account for the bonus payment amount. Always leave enough money in the account to avoid service fees.... This scheme insures that you don't cheat and use paydown money for play money. It insures that you won't have late payments that impact interest rates and credit ratings. It insures that you won't have late fees. The most effective way to make debt stacking work is to open a separate bank account, WITHOUT CHECKS !!!

Direct deposit a fixed amount to this account each month and create autopayments from this account. Set the Autopayments for $10 above the latest minimum and 5 days before the due date so that the payment will always be made on time … even when you forget.

When the bill comes in reset the payment to minimum on each account. Make a second payment on the target high interest account for the bonus payment amount. Always leave enough money in the account to avoid service fees….

This scheme insures that you don’t cheat and use paydown money for play money. It insures that you won’t have late payments that impact interest rates and credit ratings. It insures that you won’t have late fees.

]]> By: Solid Planning http://www.debtgoal.com/blog/the-cost-of-having-too-many-debt-accounts/comment-page-1/#comment-1488 Solid Planning Mon, 06 Apr 2009 00:41:00 +0000 http://www.debtgoal.com/blog/?p=1277#comment-1488 Great example! Keep up the good work! ~ Solid Planning Great example! Keep up the good work! ~ Solid Planning

]]> By: “How to administer your money” carnival - 03/14/2009 http://www.debtgoal.com/blog/the-cost-of-having-too-many-debt-accounts/comment-page-1/#comment-726 “How to administer your money” carnival - 03/14/2009 Sun, 15 Mar 2009 03:15:25 +0000 http://www.debtgoal.com/blog/?p=1277#comment-726 [...] Patel presents The Cost of Having Too Many Debt Accounts posted at [...] [...] Patel presents The Cost of Having Too Many Debt Accounts posted at [...]

]]> By: DebtGoal » Blog Archive » Young and in Debt: The Federal Reserve Analysis http://www.debtgoal.com/blog/the-cost-of-having-too-many-debt-accounts/comment-page-1/#comment-675 DebtGoal » Blog Archive » Young and in Debt: The Federal Reserve Analysis Fri, 13 Mar 2009 21:09:58 +0000 http://www.debtgoal.com/blog/?p=1277#comment-675 [...] Know your debt status. Identify all of your credit cards, savings accounts, and investment accounts. Bring together the mess of [...] [...] Know your debt status. Identify all of your credit cards, savings accounts, and investment accounts. Bring together the mess of [...]

]]>