Reply #72: lol

[PeterPuck]

I take it you are saying I am common-sense challenged... do you even know what common sense is?

If paying thousands of extra dollars in high interest rates to a credit card company is what gives you a sense of motivation, makes you feel like you are making progress... then keep at it. I am sure those companies will be very happy to keep collecting your interest payments.

But understand that the money you wasted on interest payments could have been going to a downpayment on a house or savings for your retirement. While everyone else is building equity at least you will feel like you are making progress.

There are other ways to get motivated or see the progress which will not cost you extra money. Paying off low interest loans before high interest rate loans is a very bad financial plan and will end up costing you lots of money and keep you in debt longer.