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$1000 To Pay Down Debt! – #FLMonth

by Don Current on April 13, 2011

Wouldn’t you love to be in this situation? Were/Are you in this situation? It is tax time, and many people do get a return this time of year. There’s little better you can do with that money than pay down debt with it. Give this question some thought, and then put your answer into action.

Question: If you had $1,000 to pay down debt, what would you put it towards?

A) Pay off a $1,000 Student Loan (and lose the tax dededuction)
B) Half of a $2,000 Credit Card balance at 9.99%
C) Part of a $5,000 Car Loan at 9.99%

So what do you think? What’s the best use of your money? How can you get rid of the debt the fastest?