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  • Tom March 26, 2009, 8:58 am

    In looking at this layout, I would absolutely pay off the furniture loan first. Why? Because most retail establishments are NOTORIOUS for playing games with consumer loans. Odds are, at 6% interest, that’s a teaser rate and I would want it GONE as quickly as possible.

  • JOE March 26, 2009, 11:55 pm

    That’s something MMA isn’t going to consider. The first step is as I showed, but of course, taking other details into account you should decide on the final sequence, in your case you have more information (the shadiness of the lender) for that particular debt. And make your decision accordingly. No problem for me.
    Thanks for visiting.

  • Craig Hansen March 30, 2009, 12:03 am

    Jim, while I’m a fan of Joe’s, it’s not “his technique”. It’s a widely-accepted and easily-understood method of debt reduction that is centuries older than the MMA and it rendered the MMA obsolete before it was even created.

  • JOE March 30, 2009, 7:16 am

    LOL – Craig, I read “technique” to mean “presentation style”, not giving me credit for the concept I demonstrated. Either way, thanks for visiting, and being one of my fans.

  • Aurie April 6, 2009, 8:44 pm

    Hey Joe. I have always been a fan. Thanks for sharing these tips. I’m going to try it out sometime and see how I make out.

  • Blaine Mitton August 13, 2009, 12:54 pm

    You miss the whole point about stagnant money, how interest rates are calculated, and the ability to use low cost interest money to pay off high cost interest money, like the 80% interest you pay on a mortgage for the first 5 years….. You need a little bit more study and a bit more math
    Blaine

  • JOE August 13, 2009, 7:56 pm

    Respectfully, you missed my 60+ pages of analysis. I’ve addressed the rates, the interest, and all of it. I have no new things to discover regarding MMA. 80% in first 5 years? No, the interest rate is the same 6% (as in the example) for every year right to the last month. The fact that in the first 5 years 80.7% of the payments made are interest is really of no point. If you pay huge chunks to principal, the ratio swings down, so what? As agent 906832 (if memory serves me), I’ll leave your link up. If you’re not a one shot visitor, read my PDF compilation, and visit again. With real numbers, and a real story to tell.

    Note – Blaine had linked to a site that’s no longer active. I get error reports on broken links, and remove them from time to time. Now, that it’s 3 years later, as I re-read his remarks, I’m reminded how foolish people can be, they are so desperate to believe in fairies, all it takes is one person to tell them that fairies exist. One thing I learned in the years dealing with people sell the MMA scam – if you understand numbers, you shouldn’t get fooled.

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