What’s The Best Way To Pay Off Credit Card Debt?
Credit card debt can strangle you. Making the minimum p[ayment will have you in debt for what seems like forever. Minimum payments on $2,000 at 18% interest will take you 30 years, and you'll pay it back several times over. One school of thought says pay off the card with the highest interest rate first. That makes sense, right? A report from the Motley fool says there's more to it than that. There's a psychology to paying off debt, a lot like weight loss or quitting smoking. Paying off the smallest balance first provides motivation. Fortunately for me, my smallest balance and highest interest card are one & the same. Click here for more recommendations.