Making A Choice
Here’s the tip from August 8 – Debt Reduction month:
Yes, everyone needs a plan. You can’t get from point A to point B without a map.
There are two schools of thought out there on paying off your debt. Option 1 is to pay off your debt starting with the smallest balance and working your way towards the bigger debts. In my experience, people who want a sense of accomplishment, who like to see things crossed off as they are completed, do well with this method. Option 2 is to pay off the debt with the highest interest rate and work your way down to the lowest interest rate. This works well for the person who is bothered by seeing their money go out the door.
The choice is yours, but you must make a choice today.
To purchase a copy of either of my books Thrive In Five: Take Charge of Your Finances in 5 Minutes a Day or 111 Ways To Save