Question

Question about minimum payments: mine seems to change? I was just paying a random amount before TBM (I don't know why, don't ask ) but now I'm paying attention to minimums owed so I can pay extra and snowball and all that good stuff. But my minimums are different this month than they were last month. Do you pay the same each month or do you pay the requested minimum and adjust accordingly?  

Answer 1

Personally, when I started my minimums were higher than they are now, but I budgeted for those amounts and as they dropped I kept what my original budget amount was. I still throw more money at it as I have extra, but I figure this just continues putting a little extra money into those accounts regularly for the months I can't add a couple of extra hundred at it.  

Answer 2

I use whatever the actual minimum is.  

Answer 3

Mine have gone down but I stick to the $290 I’ve always paid on it ( for one card, I’ve noticed always differs)

Answer 4

My lones varies depending in if its on a fixed rate or not

Answer 5

I pay the minimum, no matter the change. The rest goes into your snowball!  

Answer 6

I pay the minimum and put any extra on the snowball payment at the end of the month.  

Answer 7

Your minimum fluctuates due to the interest and interest rate. You need to pay at least the minimum to keep moving forward. Once you can pay the minimum and then some (like look at the min pmt is 50 and the interest is 40 each month). when can you pay $90 or more? I started there and just kept adding the extra on top of That as my snowball. Otherwise that little section in the statement where it tells you how long it will take to pay it off becomes true LOL