Question

Do you guys tackle the small balances first, then the big? Just started here!  Any advice would be GREAT!  

Answer 1

The 2 most popular ways are snowball (smallest balance first) and avalanche (highest interest first). Generally CCs have higher interest so my guess is when you run the calculator the amount you will pay in the long run for snowball vs Avalanche will be similar. I personally would knock out those CCs first even if the interest rate is low, it will feel good to get rid of them super fast.  

Answer 2

Enter your amounts on undebt. it and see if snowball or avalanche method is best :) You will get a breakdown of interest saved, how long it will take you to pay off with whatever monthly amounts you can afford!  

Answer 3

I would get rid of the Discover balance first for the sense of accomplishment. Money is emotionally connected so it would be a great moral victory to have one less debt next paycheque.  

Answer 4

Smallest to largest after you have a $1000 emergency fund.  

Answer 5

Go on YouTube and search Dave Ramsey, he has changed my life. 5 1/2 months and I have paid off $70, 000 in debt. I still have $130, 000 to go. Dave Ramsey, Dave Ramsey. His book “total money makeover”

Answer 6

Dave’s free podcast, 3 hours everyday

Answer 7

Knock out the small ones first. My guess is that they have a higher APR anyway.  

Answer 8

I did smallest to biggest. I needed that feeling of accomplishment

Answer 9

We snowball ❄️

Answer 10

Vertex42. com. Search “debt payment calculator. ” Use that spreadsheet to calculate the best way to pay off the fastest and least amount of interest. All you have to do is put in your numbers. It’s a game changer.  

Answer 11

Small ! Makes you feel better.