Paying Off Highest Interest Debt FirstWhen I tried paying off my highest rate credit card debts 1st, I got discouraged, because I was still trying to pay all of my bills on time and trying to pay extra on the highest rate debt(which also happened to be the highest balance) and just not seeing any progress or so it seemed to me. So I opted for the way that some financial folks would say not to do. For some this may work and when you look at the interest you're paying on each bill, this may be enough to motivate you to pay off your debt using this method. But as you will see in the next segment, Paying off the highest balance first, once you pay off a bill remember to use what you were paying on the paid off bill toward the next debt, so that you are increasing your monthly payments. Next I tried paying the lowest balances off first regardless of the interest rate.
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