Which Debts Should You Pay First?

Paying off debt is a great way to build your long-term financial security. It isn’t easy, but the most effective way to wipe out your debt is to have a plan. For example, some experts suggest that you focus on paying off your smallest debts first, while making minimum payments on the larger ones. As you pay off each debt, you apply that payment to the next-smallest one. It’s an approach that works for many people, because it provides the satisfaction of seeing each debt
disappear. Continue reading